Venezuela/SA sign deal

Venezuela and South Africa have signed an agreement to strengthen cooperation between their oil and gas industries.



The deal reportedly includes plans for oil-rich Venezuela to supply crude to South African oil firm Petro SA at preferential rates.



The deal is particularly important for South Africa, which has been plagued by energy shortages.



Venezuelan President Hugo Chavez signed the agreement, while on a state visit to South Africa.



Mr. Chavez said the deal was an example of southern nations cooperating in a new strategic alliance.



South Africa\'s President Thabo Mbeki said the agreement would further empower countries of the south.