Latin America

Argentina The first fuel oil shipment from Venezuela has arrived in the country—a 51,000 tonne cargo. Buenos Aires and Caracas signed a fuel-supply deal earlier this year in an effort to mitigate the country's fuel crisis. In exchange for fuel oil, food and manufactured goods will be supplied to Venezuela. Venezuela will ship a total of 300,000 tonnes of fuel oil and receive goods worth $200m in return. Brazil's development bank, BNDES, says it will fund work that helps to reduce the effects of the energy crisis in the country and has set aside $1bn for infrastructure projects during the next three years. Bolivia President Carlos Mesa has authorised the sale of 4m cm/d of gas to Argentina fo