Portofino Resort- Now with a new BEACH BAR!!
Topic Options
#500634 - 02/03/15 10:06 AM Last shipment of premium from Venezuela
Marty Offline
Venezuela has formally suspended shipments of premium fuel to Belize, with the last shipment of premium fuel having arrived last week via Curaçao, on Monday, January 26, 2015.

John Mencias, deputy chairman of Alba PetroCaribe Belize, the joint venture company which Belize and Venezuela had established to manage the PetroCaribe program, told Amandala that the shipment left port on January 22 and arrived in Belize 4 days later, on January 26.

Belize had ordered 9,000 barrels of premium gasoline, as well as gasoil (diesel), regular fuel and kerosene from the refinery Isla, a subsidiary of the state-owned Pedevesa (Petróleos de Venezuela S.A.).

Mencias explained that it is still Puma Energy which is responsible for importing fuel into Belize. They had agreed to purchase all Belize’s fuel imports through PetroCaribe, as long as Venezuela could supply it, but now, since Venezuelan authorities have indicated that they are unable, Puma is able to get premium fuel from other sources, Mencias explained. He indicated that the company may already be moving to do so, but Mencias is optimistic that Puma will get the fuel from an alternate source.

Despite numerous attempts, we could not reach Freddy Flores, deputy general manager of Puma Energy in Belize, to verify if plans are already in place to procure premium fuel from other sources.

Since the premium fuel will be sourced from elsewhere, the payment terms for the purchase of such fuel will be different from those of the PetroCaribe deal and Government will not be able to retain a portion of the proceeds through the long-time financing arrangement. Most likely, the bill for premium fuel will have to be paid under normal commercial terms, but without substantial price changes to consumers, since Venezuela charged Belize at world market prices.

Mencias explained that with the fall in market prices for crude, and the resultant fall in pump prices, although Government has been receiving fewer dollars via the PetroCaribe arrangement, consumers are getting to keep more money in their pockets.

Due to current prices, Government pays Venezuela 60% of the fuel bill but gets to retain 40% as a loan financed by that country at a rate of 1% for social programs. That means that for January 2015, the Government would have kept roughly $5 million as the financed portion for spending at home, and it would have paid Venezuela roughly $8.8 million.

However, Mencias notes that this is about half of what would have been the tab when the price of fuel was around $100 a barrel.

The real story, though, Mencias said, is the $160-$180 million which consumers will have saved on an annual basis, assuming that low prices continue to hold, but he questions what consumers, including the productive sector, are doing with those savings.

“What should have happened is that the productive sector should be producing products more cheaply,” he suggested.

He said that when pump prices are low, consumers get the direct benefit at the pumps, but the Government still has the smaller portion which Venezuela continues to finance for social programs.

Mencias says that while pump prices are falling, Government borrows less from PetroCaribe – which, he said, is how the program was designed.

He said that Belize gets roughly 20 fuel shipments a year at intervals of 2 to 3 weeks.

Mencias noted that consumers who had begun to switch to regular fuel switched back to premium when prices fell substantially in December. However, he maintains that the quality of regular fuel obtained from Venezuela is suitable for most vehicles in Belize.


#500636 - 02/03/15 10:37 AM Re: Last shipment of premium from Venezuela [Re: Marty]
elbert Offline
Yesterday on the island gas dock I paid $6.94 bz a gallon for regular, that's $3.47 usd. Last year at this time it was over $12.bz a gallon. I hope they keep this price war up for a while.
The Dive Shops Daily Blog

#500660 - 02/03/15 06:28 PM Re: Last shipment of premium from Venezuela [Re: Marty]
Golfr Offline
Seven forty-something this morning on the lagoon side.

Edited by Golfr (02/03/15 06:29 PM)


Click for excellent scuba lessons with Elbert Greer!

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
Caye Caulker

TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Bound for Belize
Conch Creative
As The Coconuts Drop
More Blogs...
Search thousands of Belizean-only websites
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Conch Shell Inn: All rooms are right on the beach in the heart of San Pedro, so within walking distance to anything and everything!!
Lil’ Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
Mini Chat

Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31
Who's Online
1 registered (1 invisible), 46 Guests and 7 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
18,631 Registered Members
44 Forums
63,687 Topics
461,187 Posts

Most users ever online: 1,262 @ 06/10/07 02:16 PM

AmbergrisCaye.com CayeCaulker.org HELP! Visitor Center Goods & Services San Pedro Town
BelizeSearch.com Message Board Lodging Diving Fishing Things to Do History
BelizeNews.com Maps Phonebook Belize Business Directory
BelizeCards.com SanPedroDaily.com Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.