'Venezuela state oil company Petroleos de Venezuela or PDVSA, on Wednesday agreed to buy a 49% stake in the Dominican Republic's Refidomsa refinery, which can process 34,000 barrels of oil a day. Oil-rich Venezuela is already a major supplier of crude oil to the Dominican Republic, and the purchase of a stake in the Dominican's state-owned refinery will allow it to expand its role as a supplier of fuel in the Caribbean. Venezuelan officials have said the 49% stake is worth more than $130 million, but have indicated that Venezuela would pay it by shaving off some of the debt that the Dominican Republic has with Venezuela. The agreement was signed during a visit to the Dominican Republic by President Hugo Chavez, with PDVSA President Rafael Ramirez, who is also Chavez' oil minister, by his side.'  Read on:

http://online.wsj.com/article/BT-CO-20100505-716706.html?mod=WSJ_Deals_LEFTLatestHeadlines

http://www.caribbeannetnews.com/news-23024--18-18--.html