Venezuela has pulled out of a partnership
with Cuba in its Cienfuegos oil refinery and the Caribbean island has taken
full ownership of the plant, Cuban state media said on Thursday. Venezuela is
grappling with a crippling economic crisis that already forced it to slash
cheap oil shipments to Cuba, which has had a knock-on effect on the island’s
ailing economy. The reason for the dissolution of the partnership was not
immediately obvious. A former Venezuelan government official said Cuba had
taken Venezuelan state oil-firm PDVSA’s 49 percent stake in the Cienfuegos
refinery as payment for debts it said the country incurred. More…
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