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The US is now the leading oil supplier of Nicaragua

Friday, August 4, 2017


Until March 2015, Venezuela was Nicaragua’s principal supplier of hydrocarbons. That month the South American nation provided Nicaragua with $43.9 million worth of petroleum and its derivatives – 83 percent of the total hydrocarbon imports of $52.9 million. That was the last time that Venezuela was the majority supplier of this raw material.

Since then, oil supplied from Venezuela has come to cover only a third of the country’s hydrocarbon purchases, leaving the United States as the principal source of oil. This change adds additional pressure to the international reserves in dollars that the Central Bank of Nicaragua guards.

Source: Havana Times