The Mexican Embassy in Jamaica is denying reports in the international media that its government is seeking to replace the Petrocaribe agreement between Venezuela and Caribbean and Latin America countries if the Nicolas Maduro administration were to fall.
The claims were made in a report by Reuters news agency last Friday and carried on Nationwide News on Monday.
Reuters reported that Mexican officials have started discussions on a possible design by which that country could sell low-cost crude and other oil products to Petrocaribe clients in the Caribbean and Central America.
The report says Petrocaribe nations’ loyalty to Venezuela has prevented Mexico and allies from winning enough votes to censure Venezuela in the Organization of American States, OAS.
Head of Mission at the Mexican Embassy in Jamaica, Martha Cecilia Jaber, says the reports are not true.
Petrocaribe allows Caribbean states such as Jamaica to pay cash up front for only a portion of each oil shipment with the balance being financed at low interest rates over a long period of time.
But a collapse in oil prices has caused a major recession in Venezuela with President Maduro’s administration facing months of deadly protests amid allegations of dictatorship.
Jamaica is currently paying for the majority of its oil imports up front at full market price.