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Venezuelan crude imported by Nicaragua is being bought at higher than international prices, central bank reports

Thursday, October 6, 2011

The oil that Nicaragua imports from Venezuela is being bought at prices than are higher than those of world markets.

Reports from the nation’s central banks show that in the last three months the Venezuelan crude is being paid at between $11 and $13 per barrel more that West Texas Intermediate, the marker for Venezuelan crude.

Venezuela’s Energy ministry reported that Venezuelan crude cost $102.25 per barrel, compared with $101.30 for West Texas.

Original source (in Spanish): La Prensa