Modernization of Cuban oil refineries

The modest but stable economic recovery and the integration with Venezuela have created favorable conditions for Cuba to modernize its oil refineries. The re-inauguration of the refinery located at the South Central province of Cienfuegos last year-- closed due to inefficient operation since the 90s-- enabled the island to process 65 barrels of fuel a day. Under a cost of 136 million dollars, the energy base is already able to produce liquefied gas, diesel, gasoline, fuel oil and turbo- combustible for airplanes, but it will soon start a second phase aimed at processing more than 100 thousand barrels of fuel daily. However, the program aimed at the development of energy potential on the island does not only include Cienfuegos, but also the Hermanos Diaz refinery located in the eastern Santiago de Cuba province, to be modernized as a result of an agreement between Cuba and Venezuela. During his visit to the Eastern territory last year, the Venezuelan president, Hugo Chavez signed several agreements with the Cuban authorities to increase oil purification for the development of the Santiago de Cuba generating plant, which is capable of processing the entire hydrocarbon used throughout the Eastern territory. Its strategic value is considerable as the second most important port of the nation holding a million tons purchasing power. The modernization plan includes the chemical and petro- chemistry industry that provides municipalities, Nuevitas and Sagua la Grande, located in the Central-Eastern provinces of Camaguey and Villa Clara respectively. Last year Venezuela and Cuba negotiated a seven thousand million dollar commercial exchange, under which Cuba sent 39 thousand co-workers including doctors, teachers and sport trainers to the Bolivarian nation. Cuba hopes to move out of its present economic crisis with the modernization of two of the four Cuban oil refineries as it is guaranteed to save the country spending more foreign currency on importing the so-called black gold; the key to the project being to save instead of wasting and over-consuming.

Radio Havana Cuba News posted on 8/21/2008 5:16:00 PM

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