Over $12-million in economic investment by PDV Caribe in Dominica says General Manager

Blanco said $12-million has been spent in Dominica

General Manager of PDV Caribe (Dominica) Ltd, Henry Blanco, has revealed that a staggering $12-million has been spent by the company on economic investments across Dominica.

Speaking at the 12th Anniversary of the PetroCaribe Agreement ceremony on Thursday, June 29th, 2017, Blanco said that the company has shown support to the Dominica as a partner in social events such as Jazz n Creole, Dive Fest, and Creole in the Park.

“In fact, it was a very proud and moving moment to have for the first time the Vocal Song band from Venezuela to perform in the Jazz n Creole Festival this year,” he said.

He added that the company has also provided over $1.8-million dollars in assistance towards education, sports and other social programs that focus on uplifting people.

Blanco commended the government, and the people by extension as customers, for buying products of the company which then allows them to make social investments in the country.

“Our ability to continue to make social investments in Dominica is partly because of your support by purchasing the PetroCaribe products. Every time you purchase our cooking gas for example, you are investing in your country,” Blanco remarked.

He reported that in Dominica there are 71 Liquefied Petroleum Gas (LPG) Agents, and the company has developed “strategic partnerships” to ensure energy security in Dominica.

Blanco assured the government of Dominica that the commitment to supply petroleum products to Dominica under the PetroCaribe Agreement “remains firm.”

PDV Caribe (Dominica) Ltd. has been a supplier of gasoline and diesel to Dominica for twelve years.

The PetroCaribe Agreement was signed in 2005 between Venezuela and some Caribbean territories to purchase oil on preferential payment conditions. It allows member nations to buy oil at market value and only pay a percentage of the cost up front, with the balance being paid over 25 years at one per cent interest.

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3 Comments

  1. Cheche
    July 2, 2017

    How can their commitment to Dominica be firm, when they are about to start importing oil themselves? I mean at what point do we either ignore these folks, or ask them clarifying questions?

    http://oilprice.com/Energy/Energy-General/Crisis-Stricken-Venezuela-Looks-To-Import-Fuel.html

    https://www.washingtonpost.com/news/worldviews/wp/2017/06/08/stuck-in-a-death-spiral-venezuela-is-borrowing-money-at-any-cost/?utm_term=.3cbc7e69998f

  2. Gullible
    July 1, 2017

    Personally I appreciate the help received but now is to concentrate on your own people through brutality from the Government of Venezuela. Use the money to feed Venezuela people

  3. Me
    June 30, 2017

    And how much has Reggie been paid since he became boss in 2005?

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