Emerging South

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1. Sep 2 2008

   Venezuela and South Africa: Signing Major Energy Deal

   By John Baeyens | Share This | 10 Comments

   I just received the news that Chavez and Mbeki are signing a major, far-stretching energy deal (hat-tip to Vincent). I already wrote back in december that I suspect SA's next president Zuma to heavily incline to the extreme leftist Chavez. This is a very bad early signal of what will come under Zuma's command. Rest asssured the US and Europe are closely watching this evolution and surely not liking it.
   
   "September 2, 2008 Venezuelan President Hugo Chavez and South African President Thabo Mbeki are expected to sign a strategic energy agreement during a two-day visit by Chavez to South Africa that began Sept. 1, South African commercial daily Business Day reported Sept. 2. Under the deal, South African energy firm PetroSA reportedly will receive oil from Venezuelan state firm Petroleos de Venezuela while exploring for natural gas off Venezuela and possibly acquiring oil production facilities in the country. PetroSA is also expected to promote the adoption of gas-to-liquid technology in Latin America."

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