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Page added on September 20, 2005

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Sandinistas in Venezuela oil deal

Nicaragua’s left-wing opposition party has announced an agreement to buy Venezuelan oil at preferential rates.

Sandinista leader Daniel Ortega said councils governed by the party would be able to buy oil at a 40% discount.

The rise of global oil prices has caused an energy crisis in Nicaragua which has led to power rationing.
But the government, which did not take part in the deal, is questioning the Sandinistas’ access to the proper infrastructure to carry it out.

Nicaragua’s main energy supplier, Fenosa, began rationing power for up to eight hours a day earlier in September.

BBC



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