Venezuelan President Hugo Chavez has agreed with London Mayor Ken Livingstone to send cheap oil to London in exchange for the capital's expertise in a range of public services, The Guardian reported.

Chavez made the offer in a visit to London's City Hall in May, and officials in the British capital and Caracas have been working since then to hash out the details.
Livingstone confirmed the agreement was in the making to The Guardian, adding that the finer details were still yet to be agreed upon.
'We have poor people in London. We are the richest city in Europe and yet we have the disgrace of child poverty,' he told the newspaper.
'They have a vast population living in slums, and we have a lot of experience in terms of housing policy and all the things we know about how to take a city and make it function.'
According to a memo seen by The Guardian, London would receive an unspecified amount of oil needed to run the capital's bus network.