Guatemala inks PETROCARIBE deal

Guatemala: Guatemala signed an energy cooperation agreement with PETROCARIBE, resulting in 20,000 barrels of oil daily.

Guatemalan Vice President Rafael Espada and Venezuelan President Hugo Chavez signed the deal during the PETROCARIBE Summit in St. Kitts and Nevis.

"The investment the country is making in this century of economic crisis is an undoubtedly favorable and constructive negotiation for Guatemala," Baseterre told Telesur. The government had designated the ministers of energy and public finance to implement the agreement, but the model of the operative contract must be recognized by Congress.

"Solidarity cooperation is indispensable to achieve mutual socioeconomic development goals, in at atmosphere of peace and justice," the document reads. The contract will take effect when the two sides accomplish their internal legal requirements.

Guatemala, Prensa Latina