Caribbean leaders meet for PetroCaribe summit
Published:Friday | June 12, 2009 | 2:29 PM
Members of Venezuela\'s PetroCaribe energy initiative are now meeting in Basseterre, St. Kitts to assess the impact of oil prices on the agreement.
Jamaica’s Prime Minister Bruce Golding and Energy Minister James Robertson are among those participating in the discussions.
The drop in the price of oil over the past year has meant that the 17 Caribbean and Central American member nations are not able to buy oil from Venezuela on the cheapest terms.
Petro Caribe\'s best rates are applicable once the oil price is above US$100 per barrel.