Cuba
to produce oil, natural gas
HAVANA
Petroleumworldtt.com
11 18 07
Cuba will produce about four million tons of oil and natural gas this year,
a top government official has said in comments published by state media. It
would be a slight increase over 2006.
Touring
the Nico Lopez refinery on the east side of Havana
Bay, Vice President Carlos Lage said
Cuba "is in position to meet its plan of almost
four million tons of oil and natural gas this year."
In 2006, Cuba produced 3.9 million tons of oil
and natural gas: 2.9 million tons of oil equal
to more than 22 million barrels, and about 100,000
tons of natural gas. The new report did not break
down the oil and gas figures for this year.
The Communist Youth newspaper Juventud Rebelde
quoted Lage as saying that modernization of the
Nico Lopez facility have helped save nearly one
million liters (26,000 gallons) of gasoline in
just two months. The paper reported that upgrading
the refinery took nine months and cost more than
US$4.3 million (euro3 million).
Cuba has been producing 85,000 barrels of petroleum
and 120 million cubic feet (3.4 million cubic meters)
of natural gas a day, a dramatic increase from
a decade ago but still not enough to meet its needs.
Officials are betting on even richer deposits
offshore, where foreign companies are engaged in
exploratory drilling in partnership with the communist
government.
Venezuelan President Hugo Chavez, a close friend
and ally of Fidel Castro, is providing nearly 100,000
daily barrels of oil to the island in exchange
for Cuban social services including doctors and
health care initiatives.
Story
from
Trinidad Express
Trinidad
Express
Wednesday, November 14th 2007
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