The Heads of State and Government of the PETROCARIBE Member States gathered in Cienfuegos, Cuba, on 21st December 2007:

Recognizing that, by virtue of Venezuela's strategic and open-handed initiative, PETROCARIBE is now a real and effective programme in full implementation, as a demonstration of the spirit of solidarity, cooperation and integration which inspired it; 

Emphasizing the dire consequences of an inequitable international economic order that, among other things, has a negative impact on commodities prices, including hydrocarbons, and stressing the duty to protect developing nations from the harmful repercussions of rising fuel prices;

Acknowledging the serious effects of the weakening of the US dollar in the escalation of international oil prices;

Highlighting the fact that, when the oil bill is rising at a faster rate, the Caribbean nations have a scheme that increasingly guarantees the necessary supplies on fair and sustainable terms;

Noting that PETROCARIBE has proved to be more than a trade mechanism for oil supply and currently constitutes a strategic framework for energy security also including cooperation to ensure efficiency and savings in the generation, distribution and consumption of energy, as widely demonstrated by energy cooperation projects which have been implemented in various Caribbean countries;

Stressing that the initiatives of a social nature aimed at benefiting the poorest sectors of the participating countries have started to produce positive results and will remain a central objective of PETROCARIBE and that the literacy, healthcare, education and housing programmes are fine examples of the equitable uses to which the large revenues nowadays received by exporters of energy resources can be put, in a spirit of solidarity, while the same considerations apply to the savings generated in importing countries participating in the scheme;

Stressing also the role of PETROCARIBE and the integrationist principles of the Bolivarian Alternative for the Peoples of Our America, in the ongoing creation by the Caribbean nations of an efficient sub-regional energy scheme, involving additional oil-refining, storage and transport capacity, an infrastructure for natural gas export, import and processing, as well as education and training programmes for energy-industry personnel;

1.            Are convinced that the agreements reached within the PETROCARIBE framework constitute an important tool for ensuring energy security and hence for contributing decisively to promoting sustainable economic and social development among the participating nations.

2.            Confirm our commitment to contributing to common energy security, as well as to the development and further integration of the countries of the Caribbean and Central America, through the sovereign use of energy resources.

3.            Assert that PETROCARIBE is a model for cooperation between developing countries, guided by the principles of solidarity and special and differential treatment in relation to nations lacking natural energy resources.

4.            Take note of the significant contribution of the agreements concluded within the PETROCARIBE framework, in mitigating the negative impact of the high and rising cost of hydrocarbons on the economies relying upon these imports.

5.            Recognize the positive social impact on our peoples caused by the programs financed by the Alba Caribe Fund, as a complementary arm in support of the Petrocaribe energy projects.

6.            Note with satisfaction the progress made in implementing the agreements reached since the 1st PETROCARIBE Summit and welcome that the first steps have been taken in establishing the infrastructure required for meeting the commitments arising from these. In this context, we undertake to adopt the measures required to ensure due progress in these matters.

7.            Reiterate the need for continued investment of the economic resources saved through the financing of 40% of the total oil bill in projects of high social content that have an impact on reducing poverty in our countries.

8.            Acknowledge that the protagonists of the energy integration process are the State, the sector companies and society as a whole, such that a balance is achieved between the interests of the countries, the needs of the peoples and sectoral efficiency.

9.            Express our support for the national and popular processes taking place in Latin America, in defence of their sovereignty and their natural resources and, particularly, our solidarity towards the government of Bolivia and its president, Evo Morales, in the face of attempts to subvert Bolivia’s democratic process and dismantle the country.

10.        Have resolved to stimulate energy saving and efficient use of energy, as well as development of renewable-energy systems, as a contribution to energy security, promoting universal access to energy and environmental preservation.

11.        Welcome the resolution adopted at the 3rd Meeting of the PETROCARIBE Council of Ministers held during the present 4th Summit.

12.        Have similarly resolved to maintain the impetus of PETROCARIBE and create within it new initiatives that, to an increasing degree, decisively and tangibly contribute to economic and social development among our nations and to the wellbeing of our peoples.

13.        Agree to hold the 5th and 6th PETROCARIBE Summits in Saint Kitts and Nevis and Belize, respectively.

Cienfuegos, Cuba, 21st December 2007