Venezuela Ups Oil Supply To Jamaica

Venezuela is to increase the amount of oil it supplies at preferential rates to Jamaica by around 12%. It will now supply 23,500 barrels of crude per day as part of its regional energy plan agreed under the Petrocaribe agreement. Venezuela’s president, Hugo Chávez, visited Jamaica earlier this week to discuss the increase in supply. Venezuela is also working with Jamaican state-run oil company Petrojam to increase the production capacity at a local refinery from 36,000 barrels of oil per day up to 50,000 bpd.