RealNews

Cuba to triple oil refining with Venezuelan ally

Revolutionary allies Cuba and Venezuela will pour billions of dollars into downstream oil projects in Cuba with the goal of tripling its refining capacity to 350,000 barrels per day (bpd) by 2013, Cuban state-run radio said on Tuesday, citing the country’s Basic Industry Minister. Minister Yadira Garcia’s announcement came despite falling oil prices which are expected to slow Venezuela’s plans to build around a dozen refineries in the region. Full Story

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