Venezuela to ship oil to Honduras from next month

Venezuelan oil shipments to Honduras under the Petrocaribe agreement will be dispatched in September, Honduran entrepreneur Gerardo Meraz said.

Meraz also outlined that a group of entrepreneurs from Honduras will travel to Venezuela next August 8 to begin legal proceedings to receive the first shipment, of 330,000 barrels.

Under the Petrocaribe agreement, Honduras shall pay 60 percent of the oil bill in cash and the other 40 percent in installments for 25 years at a two percent rate of interest.

Source: El Universal