September 03, 2008
PRETORIA -- South Africa and Venezuela sealed a major oil deal Tuesday during a visit by Venezuela's President Hugo Chávez, who touted it as an example of southern nations cooperating in a new strategic alliance.
The two countries' state oil companies reached agreements on oil and gas.
''It will be a wonderful day, the day when the first Venezuelan tanker will stop by to leave oil for South Africa,'' Chávez said.
No details of the deals were immediately available, but they were likely to include plans for Venezuela to supply crude at preferential rates to South Africa's PetroSA state oil company.