NGP Leader Urges Pierre To Explore Sourcing Oil From Venezuela

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The leader of Saint Lucia’s National Green Party (NGP) has urged Prime Minister and Minister of Finance Philip J. Pierre to consider Venezuela as an oil source amid the rising fuel costs.

“We urge the PM to take a long hard look at all the possible options including the possibility of sourcing oil from Venezuela, to speak with Trinidad and to encourage CARICOM to come up with a regional energy policy. Energy security is just as important as food and water security,” Andre de Caires stated.

The NGP leader noted that with the war in Ukraine plus the lingering social effects of COVID lockdowns, the high cost of oil has negatively affected the already backlogged supply chains worldwide.

“This has caused many more of us to think of oil, as now, the rising prices for all commodities are starting to affect everyone. There is a perfect storm approaching. We believe that the price of oil will continue to rise in the short term, at least for the next 6 months , as NATO seems to be preparing to be fighting to the death. This war will be dragging on,” de Caires told St Lucia Times.

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At the same time, he observed that Saint Lucia is vulnerable because of being an oil importer.

“Where will we be able to source the cheapest oil to run this nation in the near future? Just south of us are two oil producing nations – Trinidad and Venezuela and soon to be Guyana when production starts. The US has placed sanctions on Venezuelan oil meaning that any country that intends to purchase Venezuelan oil will be sanctioned as well. Ironic when the very same nation that placed the sanctions on Venezuela is now negotiating with Venezuela to purchase oil from them,” de Caires asserted.

He explained that drastic and occasionally unpopular decisions are necessary in these times of crisis to ensure that Saint Lucia survives with as little collateral fallout as possible.

Venezuela had been a major oil exporter to the Caribbean, particularly under PetroCaribe – an energy initiative through which Caracas provided crude oil to some countries at discounted prices.

But by 2019, the PetroCaribe programme had virtually collapsed amid a steep drop in Venezuela’s domestic production and refining, mainly due to American sanctions. 

As a result, Caribbean governments resorted to sourcing most of their fuel from the open market.

 But Antigua and Barbuda Prime Minister Gaston Browne has been quoted in the regional media saying that given the escalating price of oil on the global market, the PetroCaribe initiative that Venezuela had in place could help allow the region to navigate the current situation.

According to a Caribbean Media Corporation (CMC) report, Browne said Washington could not determine with whom the Caribbean conducts trading affairs.

And the CMC said the Antigua and Barbuda leader was calling on CARICOM leaders to approach Caracas for help in dealing with the rising costs of energy products.

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

7 COMMENTS

  1. The current economic situation in the world dictates that we have traveled a long way past the point of mere exploration for sourcing energy! Caricom should have already established full cooperation with both Venezuela & Mexico with regards to energy supplies. The economies of both the US & Canada (who throughout our arrested development as a nation, we have regarding as our “pawens”) are cratering fast via their economic suicide pact!

    The governments of the Caribbean basin need to pay close heed (even 25 years later than appropriate) to the prevailing global economic & social realities…as outlined in the video link presented below:
    https://www.youtube.com/watch?v=SvVC1VBiWKM&t=3089s

  2. St.lucia with the oil terminal can build a small refinery(original plan from HESS ).
    We built a small refinery in (CBI)ECUADOR producing 1000 bpd gas,and 1500 bpd diesel.It took less than 8 months erection and commisioñing.It can be the size you want.The extra production can be sold to the rest of the windward islands.
    Plus employment for locals.
    Primary eqiupment An FCC.
    Fluid Catalytic Cracking is the conversion process used in petroleum refineries to convert the high-boiling point, high-molecular weight hydrocarbon fractions of petroleum into gasoline, olefinic gases, and other petroleum products.

  3. ok i have a question . in what way does this war in ukraine affect us when it comes to gas prices? do we get gas from ukraine? where do we get our gas from isnt it the US?

    • Oil is a very complex topic. There are various grades of oil depending on where it is drilled. Refineries have to be tooled to process a particular type of oil. Also keep in mind that oil is used in pretty much every product that gets to your table. Plastics, food package, roads, jets. Everything you can imagine has oil in it at some level. It doesn’t matter where you get your gas from. If a supplier can sell gas on the open market at $120 a barrel why would they sell to St. Lucia at $90? And keep in mind you can’t take US oil and process in a Venezuelan refinery. But to the point. Venezuela offered cheap oil to the region. Chastanet said no to PetroCaribe. Many other islands benefit from their social programmes. We did not.

      • ok i think i understood a little of what you said but what i dont get is if there are other suppliers right, then why is it that everything and everyone talking in saint Lucia is blaming the war in ukraine? its like ukraine is the only supplier

      • SLP is back in office and is not executing the UWP agenda. Why doesn’t the SLP administration return to the PetroCaribe arrangement?

  4. a regional energy policy, sounds like a great idea Pancho and true dat the USA cannot dictate who St. Lucia does business with, smp. We are a sovereign, Independent Island Nation. Washington could not determine with whom the Caribbean conducts trading affairs.…St Lucia Represent!

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