Burkina Faso Signs Deal to Import Venezuelan Petroleum Products

OUAGADOUGOU – Burkina Faso’s Minister of Foreign Affairs and Venezuela’s Minister of Oil signed a memorandum of understanding on February 6, aimed at facilitating the export of Venezuelan petroleum products to Burkina Faso.

According to Burkina Information Agency, the agreement was reached on the sidelines of the joint cooperation commission between Burkina Faso and the Bolivarian Republic of Venezuela. The memorandum is set to pave the way for the importation of petroleum products from Venezuela to Burkina Faso, establishing a direct partnership between the Burkinabè National Hydrocarbons Company (SONABHY) and Petroleos de Venezuela (PDV-SA).

Following the signing, technical teams from both nations are expected to convene to discuss the specific quantities and types of hydrocarbons Burkina Faso requires. The memorandum represents the culmination of negotiations that began last June in Caracas, led by Burkina Faso’s Minister in charge of trade, Karamoko Jean Marie TRAORE, and Venezuela’s Minister of Oil, Rafael Tellechia.