Pdvsa has requested Petropar USD 265 million plus 2% of annual interest. The Paraguayan company has acknowledged the balance. The debt was established under the Caracas Energy Agreement, signed in 2004 for supply of fuel oil to Petropar.

A debt owed by Paraguay to state-run oil company Petróleos de Venezuela S.A. (Pdvsa) is “channeled,” reported on Thursday Eddie Jara, CEO of the Paraguayan state-owned company Petropar.

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“The problem right now is that Paraguay  has been requested to pay the oil debt only for thinking otherwise; some countries contribute nothing to the Venezuelan State and their debt has been pardoned many a time; law is for everyone, nor for particular cases; this is what expects anybody who does not kneel down to the revolution. He who has eyes to see, let him see. Look at the pathetic case of Uruguay; it was forced by means of debt of Venezuela for dairy products,” he said.

Jara specified that Petropar is “recovering its financial health” and estimates a larger growth of its net worth at the end of this year.

Because of these results, Paraguay is able to face “the great challenge” of repaying its debt with Pdvsa “shortly,” he affirmed.

Pdvsa has requested Petropar USD 265 million plus 2% of annual interest. The Paraguayan company has acknowledged the balance.

The debt was established under the Caracas Energy Agreement, signed in 2004 for supply of fuel oil to Petropar.