Algeria Sends More Oil to Cuba as Venezuelan Supplies Fall

Source: Reuters 1/10/2018, Location: Africa

Algeria sent 2.1 million barrels of crude oil to Cuba last year and will ship the same amount in 2018, an official at state energy firm Sonatrach said on Wednesday, helping Cuba to offset lower supplies from the island’s closest ally, Venezuela.

“We delivered in 2017 three times 700,000 barrels, a total of 2.1 million barrels to Cuba,” Omar Maaliou, Sonatrach’s vice president in charge of trade and marketing, told Reuters. “We will do the same this year, the first 700,000 barrels are about to be delivered.”

Saharan Blend light sweet crude is Algeria’s main export grade. Cuba and Algeria have maintained a close relationship in recent years. The island annually imports some $200 million to$300 million of oil products from the African country, including some purchases of naphtha.

Cuba is also a regular buyer of Algerian jet fuel.

But Cuba has relied almost exclusively on Venezuela, also an OPEC member, for its crude supplies through a 15-year-old assistance program that Caracas has been struggling to maintain as power cuts, lack of investment and payment delays slash its oil output.

Insufficient crude imports last year – mainly from Venezuela - forced Cuba’s state-run oil company Cupet to cut operations at its 65,000-barrel-per-day Cienfuegos refinery, where Venezuelan state oil company PDVSA had a 49-percent stake until August. It only refined 24,000 bpd of crude last year, according to official numbers.

Along with the drop in volume, the quality of the crude PDVSA had available for export also changed to heavier grades than Cuba’s refinery was used to.

Cuba bought the light Algerian crude for the first time in 2016 to blend with the heavier oil. PDVSA had previously supplied Cuba with a few cargoes of other light foreign crude grades.

Cuba has also been buying oil products from Russia’s Rosneft, which recently started talks with the Cuban government on exploring partnerships there.




Netherlands/Holland >>  8/1/2022 - Gasunie subsidiary EemsEnergyTerminal has sold the remaining capacity of the LNG terminal in Eemshaven to ENGIE SA who purchased the last 1 billion cu...
Russia >>  7/29/2022 - In the course of its business, the JSC “Latvijas Gaze” purchases natural gas from other suppliers, paying in the EUR currency as required under the re...

United States >>  7/27/2022 - NextDecade Corporation (“NextDecade”) announced the execution of a 20-year sale and purchase agreement (“SPA”) with ExxonMobil LNG Asia Pacific (“EMLA...
India >>  7/26/2022 - Cheniere Energy, Inc. announced that its wholly-owned subsidiary, Corpus Christi Liquefaction, LLC (“CCL”) has entered into a long-term liquefied natu...

Russia >>  7/22/2022 - The volume of total cargo throughput in the port of Rotterdam was 0.8% higher in the first half of the year (233.5 million tonnes) than in the same pe...
China >>  7/20/2022 - A long-term liquefied natural gas ("LNG") sale and purchase agreement ("SPA") has been signed between Cheniere Energy, Inc. ("Cheniere") (LNG) and a s...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.