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Nicaraguan business leaders question oil accord with Venezuela. Prices charged higher than those of world market, they claim

Monday, October 10, 2011

Business leaders in Nicaragua are questioning the supposed benefits of the country’s oil agreement with Venezuela.

The accord stipulates exports of crude to Nicaragua at subsidized prices, but the business leaders see no benefits for consumers.

Mario Amador, president of the Nicaraguan industry chamber, said that prices on the world market are just below about $80 a barrel, but the country is paying as much as $120.

Original source (in Spanish): El Nuevo Diario