Algeria Will Send Oil To Cuba After Venezuelan Supply Falls / 14ymedio
14ymedio (with information from agencies), Havana, 8 September 2016 –
The Algerian state oil company will send crude to Cuba for the first
time in the coming month, after a fall of 40% in the supply from
Venezuela recorded in the first half of the year, according to
information from Reuters on Thursday.
The sources consulted, which preferred to remain anonymous, revealed
that they anticipated sending about 515,000 barrels of crude to the
island in October and that Sonatrach could repeat the operation in
November and December.
Cuba produces only 40% of the oil it consumes and imports between 200
million and 300 million dollars in oil products from Algeria every year,
as well as maintaining an agreement for the supply of crude under an
assistance program with Venezuela, which is experiencing the worst
decline in production in more than a decade, because of its economic
situation as well as low world fuel prices.
Although there are no official figures, Cuba is estimated to be
receiving fewer than 80,000 barrels a day from Venezuela, far from the
105,000 that arrived during Hugo Chavez’s presidency.
On Monday, Cuban President Raul Castro asked Russian President Vladimir
Putin for a stable supply of petroleum and its derivatives for the island.
Source: Algeria Will Send Oil To Cuba After Venezuelan Supply Falls /
14ymedio – Translating Cuba –