Venezuela Expands Its Energy Bartering Program

June 7, 2016

On Friday, Venezuelan President Nicolas Maduro announced that Venezuela will seek to greatly increase the PetroCaribe program. This enterprise sells oil on credit to other Carbbean and South American nations at steeply reduced prices through a “partial bartering” program. President Maduro made the announcement in Caracas before a gathering of PetroCaribe’s 16th annual ministerial council. […]