August 19, 2008

Venezuela to Guarantee Oil Supply to Paraguay: Chavez

Venezuela to guarantee oil supply to Paraguay: Chavez

MEXICO CITY, Aug. 16 (Xinhua) -- Venezuelan President Hugo Chavez said Saturday that oil exports to Paraguay will be guaranteed, according to news reaching here from Paraguay.

Paraguay will receive "all the oil it needs" from Venezuela, said Chavez, who is on a visit to Paraguay to attend the inauguration ceremony of President Fernando Lugo.

Venezuela's state oil company PVDSA later confirmed that a deal was inked by Chavez and Lugo under which Venezuela will export up to 23,500 barrels of oil and derivatives to Paraguay per day.

Paraguay, with no oil reserves, consumes over 27,000 barrels of oil daily.

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