Cuba Eyes Importing Crude from Iran, Russia

Cuba plans to import crude oil from Iran and Russia in a bid to make up for declining oil supplies from Venezuela, a report said.

The Cuban government is preparing to start talks with Iran and Russia for the supply of crude and refined oil products “to counter possible disruptions in imports from current sources”, an official with Cuba’s state-run oil company Cupet said as cited by Argus Media.

Cuba currently relies on Venezuela for crude and products which are effectively supplied for free. Venezuela had been supplying around 80,000 b/d of oil to Cuba in 2015.

Iran and Cuba discussed cooperation in several areas including oil supply during a visit to Havana last month by Foreign Minister Mohammad Javad Zarif.

Cuba has been trying to restart deepwater oil drilling in the Gulf of Mexico that ran aground in 2012 after foreign companies, including Spain’s Repsol, India’s ONGC, Norway’s Statoil, Malaysia’s Petronas, Russia’s Gazpromneft and PdV, struck dry holes.

(Source: Tasnim, under Creative Commons licence)

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