PetroCaribe and CARICOM: Venezuela’s Resource Diplomacy and its Impact on Small State Regional Cooperation

Beyond Free Trade

“…347-346). New forms on non-reciprocal, preferential treatment from the South, however, must be understood as emerging within the context of very difficult social and economic crises for the Caribbean and in relation to other options that are currently available -the "lifeline" aspects of South-South cooperation should not be underestimated (Bryan 2013). Beyond this, however, South-South cooperation in the Caribbean points the way toward emerging trends globally that offers alternative pathways and visions for small Southern states over the longer term, two of which are particularly salient.…”

Still Lonely After All These Years?: Contemporary Development in the ‘Three Guianas’

“…Petrocaribe was launched in 2005 and provides budgetary and development support to a number of countries in South America and the Caribbean, along with cheap oil for which only a percentage has to be paid up front, with the remainder transferred into a soft loan. The full cost of the oil can then be deferred for a period of 25 years at a concessionary interest rate of approximately 1 percent (Bryan 2013). Guyana was one of the initial signatories of the deal and has received approximately 5,000 barrels of oil a day since then-equivalent to about 50 percent of its daily consumption.…”

International Clientelistic Networks: The Case of Venezuela at the United Nations General Assembly, 1999–2015

“…He also came up with alternatives to traditional institutions at all levels (domestic, regional, global); for example, the Bolivarian Alternative for Our American People (ALBA) and PetroCaribe, heavily based on Venezuelan oil shipments (Bryan 2009). 1 Chavistas became valuable partners to several Latin American and Caribbean (LAC) countries, providing benefits to improve their economic situation, given their vulnerabilities.…”