ESPACIO PUBLICITARIO
CARACAS, Friday January 04, 2013 | Update
 
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OIL

Ancap pays Pdvsa USD 517 million

The agreement on the anticipated payment was reached on August 4, 2012

EL UNIVERSAL
Friday January 04, 2013  02:44 PM
Uruguayan state oil company Ancap made an anticipated payment of USD 517 million to Venezuelan state oil firm Pdvsa, thus reducing a debt amounting to some USD 828 million, the Uruguayan company said Friday in a statement.

"Ancap canceled (...) the debt incurred during August 2005-March 2012, which included the financing of 48 cargoes of crude oil," the firm said as quoted by AFP.

The agreement on the anticipated payment was reached on August 4, 2012, after years of negotiations, during a brief visit Venezuelan Minister of Energy and Petroleum and President of Pdvsa Rafael Ramírez paid to Montevideo, a few days after Venezuela joined the Common Market of the South (Mercosur).
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The rock of discord

A shipment of over 30,000 tons of phosphate arrived at Puerto Cabello port in late July on board the Shi Long Ling, a Chinese-flagged vessel that began its long journey in northern Africa. The cargo boat docked on July 26 after traveling more than 3,200 nautical miles. Undoubtedly, this would just be considered one in many cargo ships crisscrossing the oceans if it were not for the fact that Venezuela has denounced Western Sahara occupation by Morocco and yet purchases the territory's natural resource products from the occupying power.

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