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Friday, July 14, 2017

Venezuela Cuts Shipments To Cuba By 13% Through June 2017


Venezuelan shipments of crude oil to Cuba have fallen 13 percent in the first six months of 2017, according to official PDVSA data seen by Reuters this week. Havana reduced electricity use quotas for its state-run businesses by 28 percent last year, but the government did not put caps on residential consumption. Former Venezuelan President Hugo Chavez set up contracts with communist Cuba regarding oil supplies back in 2000. In return, Cuba offers Venezuela doctors and other medical services. The documents showed that PDVSA sent Cuba 72,350 barrels of crude and refined products per day through June – 13 percent less than the same period last year. More…

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