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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).
"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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José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."
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