New York, NY —

Venezuelan President Hugo Chavez is following through on a promise made to Bronx residents during a visit to the borough in September. Cheap oil was delivered by the Venezuelan oil company Citgo to a building on 176th Street. And there is more on the way. WNYC's Cindy Rodriguez reports.

REPORTER: About 8 million gallons of oil will be sold at a 40 percent discount to non profit building owners who will then be obligated to pass on the savings to tenants. Congressman Jose Serrano helped broker the deal and called on American corporations to follow citgo's example.

SERRANO: The Citgo corporation has on the record said we make alot of money there is nothing wrong with sharing some of that wealth that we make in this country.

REPORTER: The non-profits say they will save hundreds of thousands of dollars and tenants will receive rent reductions. Part of the savings will also go to making building repairs About 8-thousand residents will benefit from the program. Chavez is a harsh critic of the Bush administration and some polticial analysts believe the oil contribution was meant to embarass President Bush.