Costa Rica keen to join Petrocaribe oil alliance

Costa Rica said on Tuesday it was eager to join energy alliance Petrocaribe, Venezuela's oil scheme that offers members soft financing for crude and allows debt repayments with products and services. President Oscar Arias said despite his country's interest in joining the oil alliance, there was no set time for this yet. 'What we need to see is whether we need to wait until the next (Petrocaribe) presidents' meeting in December or if it is possible to benefit sooner from this help,' Arias was quoted as saying in a statement from the presidential office. Costa Rica says entering Petrocaribe would enhance its energy security since the country depends on oil for two-thirds of its energy needs. Venezuelan President Hugo Chavez, the fiercest antagonist of the United States in Latin America despite being a major US oil supplier, set up Petrocaribe in 2005 to bolster his regional influence. Cuba, several Caribbean nations and Honduras are among Petrocaribe's members and Guatemala says it plans to join later this month. Petrocaribe sends 85,900 barrels per day in crude and derivatives to its members.