Venezuelan dictator Hugo Chavez continues his petrodollar-fuelled diplomatic offensive, aiding strategic political allies with access to lower cost energy. Caracas newspaper El Universal reports:

Venezuela has started land surveys required for construction in Nicaragua of a USD 2.5 billion 150,000 bpd refinery expected to be completed in four years, Reuters reported. [....]

...financial aid to Nicaragua is totaling some USD 430 million in energy, agriculture, health and social projects. "These investments are huge," Ortega conceded.

Out of this USD 430 million, USD 340 million has been earmarked for oil supply and other means to solve the Central American country's grave energy crisis