Cuba’s Camilo Cienfuegos oil refinery was reopened on the closing day of the fourth Petrocaribe Summit, following a joint renovation effort carried out by Cuba and Venezuela. The refinery eventually will expand its daily processing capacity from 65,000 to 100,000 barrels.
Built with assistance from Moscow, the refinery sat idle for 14 years following the overthrow of the Soviet Union. Now, it will process crude oil supplied by Venezuela and possibly even Cuban crude, should Cuba’s deep-water exploration pan out.
The Petrocaribe Summit brought together 12 regional heads of state to discuss energy collaboration accords. In his opening speech, Venezuela’s Hugo Chávez offered to sell oil to Petrocaribe countries in exchange for goods and services, following the same model that has allowed Cuba to buy oil for health services.
