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Chavez tour ends in energy deals | |
(about 17 hours later) | |
The presidents of Bolivia, Venezuela and Argentina have signed joint energy deals worth more than $1bn in Bolivia. | |
The accords come at the end of a regional tour by Venezuelan leader Hugo Chavez. He signed bilateral energy deals in the four countries he visited. | |
During his trip, Mr Chavez has repeatedly attacked the US for trying to dominate world energy supplies. | |
He has pledged to use Venezuela's oil wealth to help guarantee the energy needs of his allies in Latin America. | He has pledged to use Venezuela's oil wealth to help guarantee the energy needs of his allies in Latin America. |
Mr Chavez, his Bolivian counterpart Evo Morales and Argentina's leader Nestor Kirchner met in the southern Bolivian city of Tarija. | |
Mr Morales and Mr Kirchner finalised a $450m agreement to build a gas processing plant in the border region of Chaco and in the Amazon region north of La Paz. | |
This deal came after Mr Chavez signed an accord with Mr Morales on Thursday to create a $600m joint venture, Petroandina, formed by Venezuela's state-run oil company PDVSA and Bolivia's state energy company YPFB. | |
Oil refineries | Oil refineries |
Mr Chavez has pushed energy integration through public investment throughout the tour. | |
"The story of neoliberal globalisation was that privatisation was going to bring us big investment. That was a lie," he said. | |
"The delivery of our natural resources to transnational companies... left us only underdevelopment, technological backwardness, poverty, misery and dependence." | |
Mr Chavez's tour has also taken him to Argentina, where he announced plans to buy up some $1bn (£500m) in Argentine government bonds. | Mr Chavez's tour has also taken him to Argentina, where he announced plans to buy up some $1bn (£500m) in Argentine government bonds. |
In Uruguay, he discussed ways of expanding the country's oil refining capacity and promised Uruguayans that they would be provided with oil and gas for a century. | |
Mr Chavez then travelled on to Ecuador, where he signed an agreement with President Rafael Correa to build a giant oil refinery costing some $5bn. | |
During his visits, the Venezuelan leader has again spoken out against the US and capitalism, telling his allies that they needed to work together to make South America strong. | During his visits, the Venezuelan leader has again spoken out against the US and capitalism, telling his allies that they needed to work together to make South America strong. |
Mr Chavez's domestic opponents have criticised what they see as hand-outs of Venezuelan wealth for political gain. | Mr Chavez's domestic opponents have criticised what they see as hand-outs of Venezuelan wealth for political gain. |
But Mr Chavez says that the deals signed during his trip will bring mutual benefit to the countries involved. | But Mr Chavez says that the deals signed during his trip will bring mutual benefit to the countries involved. |
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