Guatemala's freshly inaugurated chief of state has said he intends to seriously consider creating a state oil company. The country produces some oil and is exploring for more, but the main reason for a state company, President Alvaro Colom said, would be to negotiate imports of oil from Venezuela. As president-elect, Colom said in December he would send a delegation composed of his Minister of Energy and Mining Carlos Meany and his transition manager Edgar Barquin to look into joining Petrocaribe, the Venezuelan program that supplies oil under special terms to Central America and the Caribbean.
NotiCen writers. "Guatemala mulls state oil company to deal with energy needs; socialist inroads feared." (2008). http://digitalrepository.unm.edu/la_energy_notien/131