(Prensa Latina, 14.Dec2020) â The new electricity tariff to be implemented in Cuba next January 1 as part of the monetary regulation process, will protect vulnerable families, a government practice in force on the island. Cuban Deputy Prime Minister Alejandro Gil explained that the increase in prices will occur in […]
Category: Cuba
Cuba energy
Cash-short Cuba Orders More Power Cuts
(Argus, 26.Aug.2020) â Cuba is deepening power cuts as US sanctions on its main fuel supplier Venezuela make it harder for the island to keep its lights on. Venezuela’s state-owned PdV has long supplied crude and fuel to Cuba under a barter agreement dating back two decades. But PdV’s own […]
Maduro Sends Iranian Oil To Cuba
(Panam Post, 27.May.2020) â A Cuban vessel arrived in Venezuela to allegedly provide the island gasoline that has just arrived from Iran. According to the Marine Traffic portal, this is the Petion ship, which sails under the Panamanian flag and departed from Cuba on May 21. It arrived this Monday […]
PdV Restarts Coker For Export Via Cuba
(Argus, 20.May.2020) â State-owned PdV has partially restarted a 70,000 b/d delayed coker which had been off line for over a year at its 305,000 b/d Cardon refinery, three PdV and oil union officials said. Once the coking unit operations have stabilized, PdV plans to ship the coke to Cuban […]
PDVSA Steps Up Shipments To Cuba
(Reuters, 14.Feb.2020) â Venezuelaâs state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island, according to sources and internal company documents seen by Reuters. Six vessels, most of them owned by PDVSAâs maritime […]
US Cuts Venezuelan Flows Plans For China, Rosneft
(S&P Global Platts, 24.Dec.2019) â US sanctions on PDVSA shut down roughly 500,000 b/d of crude flows from Venezuela to Gulf Coast refineries within a matter of weeks after being imposed in January, and helped cut the South American nation’s oil production roughly in half before the end of the […]
Venezuela And Cuba âCircumvent Sanctionsâ
(Miami Herald, Jim Wyss and Nora Gamez Torres, 3.Dec.2019) â Washington continued to tighten its grip on Venezuela and Cuba on Tuesday, naming six oil tankers that deliver fuel from the South American nation to the island as âblocked property.â The action â just the latest in a series of […]
US Acts Against Movement Of Venezuelan Oil To Cuba
(US Department of State, 3.Dec.2019) â On December 3, the United States identified six PDVSA-owned vessels, pursuant to E.O. 13884 or 13850, being used by the former Maduro regime to ship oil to Cuba, announced US Secretary of State Michael R. Pompeo. Related Story: OFAC Adds Six Vessels To List […]
OFAC Adds Six Vessels To List
(Piero Stewart, Energy Analytics Institute, 3.Dec.2019) â The US Department of the Treasuryâs Office of Foreign Assets Control (OFAC) add six vessels to its SDN list as of 3 Dec. and as follows. — ICARO Crude Oil Tanker Panama flag; Vessel Registration Identification IMO 9038842 (vessel) [Venezuela-EO13884] (Linked To: PDVSA). […]
Cuba Working To Boost Renewable Energy
(Xinhua, 29.Nov.2019) â Cuba hopes to generate a quarter of its energy needs from renewable sources over the next decade, an industry official said on Thursday. The government’s Renewable Energy Development Program aims to raise clean energy output from today’s 4 percent to 24 percent by 2030, said Tatiana Amaran, […]
Apache To Explore Offshore Cuba
(Dominican Today, 27.Nov.2019) â The Ministry of Energy and Mines (MEM) awarded Apache Dominican Republic Corporation, a subsidiary of the US Apache Corporation, an offshore block in the San Pedro de MacorĂs basin for exploration and exploitation of oil and gas. The award was delivered at the countryâs first auction […]
Venezuela Ships Petcoke Cargo To Cuba
(Energy Analytics Institute, Piero Stewart, 25.Nov.2019) â OPEC member country Venezuela reportedly shipped a cargo of petroleum coke to Cuba valued at an estimated $1.7 million, according to sources in Punto Fijo, Venezuela. A cargo of 26,000 metric tons of petcoke was loading onto the Lagonda tanker on 24 Nov. […]
Maduro Pledges 30 MMbbls To Back Cryptocurrency
(Oilprice.com, Irina Slav, 21.Nov.2019) â Venezuela will use some 30 million barrels of oil it has in storage as backing for its national cryptocurrency, the petro, Reuters reports, citing a speech by President Nicolas Maduro. âI will deliver these 30 million of barrels as a liquid, physical, material backing for […]
CUPET To Host Licensing Round Workshop
(GEP, 18.Nov.2019) â As the official CUPET meeting and roadshow to mark Cuba’s first offshore bid round, the Cuba Energy, Oil and Gas conference will be returning at the end of the month (26-29 November) hosted by CUPET. Featured as part of this year’s four day conference programme, CUPET, alongside […]
Venezuela Using Invisible Oil Tankers To Skirt Sanctions
(Oilprice.com, Irina Slav, 16.Nov.2019) â U.S. sanctions on Venezuela have been squeezing the life out of its economy in an attempt to remove the government of Nicolas Maduro from power, but so far those sanctions havenât been entirely successful. The reason: Venezuela is still exporting oil. So far in November, […]
Reliance To Resume Venezuela Oil Loadings
(Reuters, Marianna Parraga, 9.Oct.2019) â Indian refiner Reliance Industries Ltd is scheduled to resume loading Venezuelan crude in October after a four-month pause, according to sources and internal documents from PDVSA seen by Reuters, a move that could help Venezuela’s state-run company drain its large oil inventories. The United States in January […]
Energy Cos Caught In Spat Over Venezuela Sanctions
(Chron, Sergio Chapa, 7.Oct.2019) â Frequent power outages, theft of equipment, a political tug-of-war and billions of dollars in losses would seem to signal to businesses that itâs time to get out of Venezuela. But energy companies with headquarters or major operations in Houston â including the oil major Chevron […]
PdV Floods Cuba With Stranded Oil
(Argus, 3.Oct.2019) â At least three Venezuelan fuel tankers are heading towards Cuba today, part of a flotilla meant to free up domestic storage space while defying a US campaign to cut off Venezuela’s oil supply to its political ally. Up to 3mn bl of refined products and heavy crude […]
US Press Secretary Statement On Venezuela
(White House Press Secretary, 25.Sep.2019) â Today, President Donald J. Trump and other United States officials hosted leaders from Western Hemisphere countries to discuss the need for a democratic transition in Venezuela to resolve the prolonged political, economic, and humanitarian crisis caused by Nicolas Maduro and his regime. The United […]
Venezuela Oil Exports To Cuba Rising: Sources
(Reuters, Mircely Guanipa and Marianna Parraga, 25.Sep.2019) â Venezuelan state oil company PDVSA ordered an increase in exports to ally Cuba to ease fuel shortages on the island this month, challenging U.S. sanctions on shipping firms involved in the trade, according to three industry sources and Refinitiv Eikon data. The […]
US Targets Entities, Vessels Moving Venezuelan Oil To Cuba
(US Treasury, 24.Sep.2019) â Today, the U.S. Department of the Treasuryâs Office of Foreign Assets Control (OFAC) designated four entities that operate in the oil sector of the Venezuelan economy pursuant to Executive Order (E.O.) 13850. Additionally, OFAC identified four vessels that transport oil and other petroleum products from Venezuela […]
US Actions Against Entities Assisting Venezuela
(US Treasury, 24.Sep.2019) â On September 24, the United States designated four companies that operate in Venezuelaâs oil sector as sanctioned, and identified as blocked property four vessels associated with this activity. This action further targets Venezuelaâs oil sector and the mechanisms used to transport oil to NicolĂĄs Maduroâs Cuban […]
Cuba Wonât negotiate On Venezuela, But Russia Might
(Miami Herald, Nora GĂĄmez Torres and Michael Wilner, 24.Sep.2019) â Moscow has maintained communication with members of the Venezuelan opposition even as the Cuban government plans on âgoing down with the shipâ alongside NicolĂĄs Maduro, a senior Trump administration official said on Tuesday. In an interview with the Miami Herald […]
Fallout From Sweet Oil Deal For Venezuela’s Neighbors
(NPR, 20.Jul.2019) â It sounded like such a good idea at the time. The year was 2005. Global oil prices were climbing dramatically. Countries in the Caribbean were facing major fuel shortages. Venezuela, one of the world’s largest producers of crude, offered to ease the staggering fuel costs faced by […]
Venezuelan Petroleum Exports To Cuba Surge In Response To US Sanctions
(Platts, 23.May.2019) â Venezuela has increased oil supplies to ally Cuba in May four-fold as US sanctions severely limit exports to other countries, PDVSA documents show. According to the documents, seen by S&P Global Platts Thursday, state-owned PDVSA exported 1.416 million barrels of combined crude and products in May to […]
Repsol Winds Down Operations In Venezuela
(VOA, Martin Arostegui, 21.May.2019) â Spain’s Repsol, the last western oil giant with major operations in Venezuela, is leaving the embattled country, as pressure mounts from U.S. sanctions and continuing unrest. Repsol’s investments in Venezuela, valued at nearly $1.7 billion (1,480 billion euros) in 2017, have fallen 70% over the […]
US Targets Shippers For Bringing Venezuela Oil To Cuba
(AFP, 17.May.2019) â The United States last Friday imposed sanctions on two shipping companies for delivering Venezuelan oil to ally Cuba in what it called a response to actions against opposition lawmakers in Caracas. The Treasury Department said it was taking aim at the Monsoon Navigation Corp, headquartered in the […]
New U.S. Sanctions Seek To Block Venezuelan Oil Shipments To Cuba
(NYT, Annie Karni and Nicholas Casey, 5.Apr.2019) â The Trump administration announced on Friday its latest round of economic sanctions against the government of President NicolĂĄs Maduro of Venezuela, this time aimed at oil shipments between Venezuela and Cuba, a country that the administration has accused of propping up Mr. […]
LatAmNRG Q&A Series With Refinitivâs Carl Larry
(Energy Analytics Institute, Ian Silverman, 31.Mar.2019) â As part of Energy Analytics Instituteâs ongoing coverage of the Latin America and Caribbean energy sectors from conventionals, unconventionals to renewables, Houston-based Refinitiv Market Development Manager Carl Larry weighs in on Peru LNG and issues it faces from increasing US natural gas volumes […]
OPEC Releases MOMR With Data Thru Feb. 2019
(Energy Analytics Institute, Piero Stewart, 14.Mar.2019) â OPEC announced publication of its Monthly Oil Market Report (MOMR) as of 14 March 2019 with details on producers in Latin America and the Caribbean from Venezuela, Ecuador, Brazil, Colombia, and Mexico. *** © Energy Analytics Institute (EAI)
Cuba And Bolivia To Cooperate In Peaceful Use Of Nuclear Energy
(Prensa Latina, 28.Nov.2018) â Cuba and Bolivia on Wednesday signed an interagency agreement to strengthen, facilitate and expand the opportunities for technical, scientific and academic cooperation, and to develop the peaceful applications of nuclear energy. The document was penned by the Cuban deputy minister for Science, Technology and Environment, Jose […]
UNICEF Works on Developing Resilience in Caribbean Islands Affected by Hurricanes
(UNICEF Canada, 12.Sep.2018) â A year after two category 5 hurricanes caused destruction across parts of the Caribbean, most children in the affected countries are now back in school and have access to the services they need, thanks to the efforts of UNICEF and partners. In September 2017, hurricanes Irma […]
Guyana to Become 5th Largest Oil Producer in LAC Region
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) â If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region. Thatâs according to an analysis of data posted by Trading Economics, and extrapolation of estimates of Guyanaâs future oil production, […]
Venezuela Dodges Oil Asset Seizures
(Reuters, Marianna Parraga, Mircely Guanipa, 7.Aug.2018) â Reuters) – Venezuelaâs state-run oil company PDVSA has limited the damage from an unprecedented slump in crude exports by transferring oil between tankers at sea and loading vessels in neighboring Cuba to avoid asset seizures. But the OPEC member nation is still fulfilling […]
Petroleum Geology of Mexico and the Northern Caribbean
(The Geological Society, 25.Jul.2018) â The Gulf of Mexico is a world class prolific hydrocarbon system. As a result of recent energy reform the Mexican sector of this basin has been open to international companies for the first time through a series of competitive licence rounds. The first phase of […]
Why Is Venezuela Still Sending Subsidized Oil To Cuba?
(OilPrice.com, Haley Zaremba, 17.Jul.2018) â In the past, oil has accounted for 96 percent of Venezuela’s exports and over 40 percent of government revenues. Now, as the nationâs economy continues to crumble amid sanctions, political strife, and low oil prices, the Venezuelaâs all-important oil production is plummeting. In fact, last […]
FDI in LAC Region Falls for Third Straight Year
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) â Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPALâs annual report titled […]
Melbana Says UK Investors Eyeing Cuba
(Melbana Energy Limited, 2.Jul.2018) â Melbana Energy Limited announced a potential dual listing on the UKâs Alternative Investment Market (AIM) is being actively considered, as it is clear there is strong UK investor interest in Cuba as an investment destination. The company is considering any number of corporate business development […]
Melbana to Spud Cuba Well in December
(Melbana Energy Limited, 2.Jul.2018) â Australiaâs Melbana Energy Limited announced preparatory work is continuing in Cuba in readiness for the planned drilling program in Block 9. From a permitting perspective, intermediate approvals are continuing to be obtained for both the Alameda and Zapato exploration wells as progress is made towards […]
India, Cuba Shake Over Renewable Energy
(PTI, 23.Jun.2018) â India and Cuba have agreed to enhance cooperation in biotechnology, renewable energy and traditional medicine as President Ram Nath Kovind held wide-ranging talks with his Cuban counterpart Miguel Diaz-Canel to further cement the strong bilateral ties. Kovind, who arrived here on Thursday on the last leg of […]
Data Confirms Cuban Oil Prospects
(UPI, Daniel J. Graeber, 12.Jun.2018) — New data taken from an oil reservoir on the northern coast of Cuba confirm the assessment of a highly prospective site, Australia’s Melbana Energy announced. Melbana, which changed its name from MEO Australia to reflect a Caribbean flair, said a new study of the […]
Cubaâs Fuel Supply and Exports Pressure Currency
(Energy Analytics Institute, Piero Stewart, 7.Jun.2018) â Cubaâs foreign currency will be under pressure this year. âDifficulties with fuel supply and a drop in exports have continued to put pressure on the availability of foreign currency,â wrote Caribbean Economist Marla Dukharan in a recent Caribbean Economic Report, which is available […]
Why Melbana Choose Cuba?
(Energy Analytics Institute, Piero Stewart, Jared Yamin) â Melbana Energy Limited Chief Geologist Errol Johnstone explains why the company choose Cuba. ***
Ramnarine Talks About Southern Caribbean Deepwater Industry
(Energy Analytics Institute, Ian Silverman, 31.May.2018) â Former Trinidad and Tobago Energy Minister Kevin Ramnarine will speak in Port of Spain about the regional deepwater industry in the Southern Caribbean. An abstract from his technical talk about the regional deepwater industry in the Southern Caribbean, and the case of Guyana, […]