Venezuela offers to expand Cuban refinery

Oct 15, 2007 02:00 AM

Venezuela's President Hugo Chavez said that Venezuela and Cuba would jointly finance the expansion of the Cuban Camilo Cienfuegos oil refinery, raising its production to 108,000 bpd from 65,000 at present.
Speaking live on the TV show "Alo Presidente" from the Cuban city of Santa Clara, Chavez told his Cuban counterpart Fidel Castro, who participated in the show by telephone and spoke live publicly for the first time since July 2006, that "we are targeting the strengthening of the economy with these projects. We will go to Cienfuegos with a refinery, a tremendous refinery. You (Fidel) gave the event its name."

Chavez said the construction would be one of the most important tasks of the Bolivarian Alternative for the Americas (ALBA), a regional integration project which is made up of Venezuela, Cuba, Bolivia and Nicaragua. The project features a deal in which 100,000 barrels of oil a day are produced for medicine, education and sports training.
Chavez also said he was interested in building gas liquefaction plants at the refinery. Venezuela and Cuba were to sign joint venture agreements worth $ 1.8 bn, Chavez added.

Source / Xinhua News Agency
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