• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour World’s Biggest Battery In California Overheats, Shuts Down
  • 55 mins Evergrande is going Belly Up.
  • 11 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 20 hours U.S. Presidential Elections Status - Electoral Votes
  • 14 hours Poland Expands LNG Powered Trucking and Fueling Stations
  • 2 days And now, hybrid electric locomotives...
  • 21 hours Ozone layer destruction driving global warming
  • 1 day The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 2 days The Painful Death of Coal
  • 19 hours The coming Cyber Attack
  • 20 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 22 hours 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
Norway Votes On Future Of Oil Exploration

Norway Votes On Future Of Oil Exploration

Norway—the world’s North Sea offshore…

Strong Dollar Keeps Lid On Oil Price Rally

Strong Dollar Keeps Lid On Oil Price Rally

Oil prices rose this week…

Venezuela Won’t Stop Sending Oil To Cuba Despite New Sanctions

Venezuela will not stop shipping crude oil to its political ally Cuba despite U.S. sanctions, the country’s foreign minister said as quoted by Reuters.

“When the conventional power of capitalism attacks you, you have to know how to respond through non-conventional means, always respecting international law,” Jorge Arreaza said.

The official’s statement follows the imposition of more sanctions by Washington on Caracas. This time the sanctions targeted 34 tankers owned or operated by PDVSA along with another vessel and two companies involved in shipments of Venezuelan oil to Cuba.

Washington is calling the oil deal between Venezuela and Cuba “oil for oppression”.

Cuba is heavily reliant on subsidized Venezuelan oil shipments, which is why Washington is apparently trying to hit two birds with one stone by stopping these shipments. The leader of the Venezuelan opposition, Juan Guaido, last month ordered the suspension of these deliveries, but PDVSA’s management is still loyal to the Maduro government, so the order had more of a symbolic significance than anything else.

The Venezuelan crisis has already forced Cuba to adjust its energy sources, and the country increased its imports from Russia and also last year signed a contract for more oil product deliveries from Algeria, another long-term partner.

Yet Venezuelan oil and oil products have continued to play an important role in Cuba’s energy supply, not least because it has been, from a certain perspective, free. The two have a barter deal; Cuba sends highly trained doctors and other personnel to Venezuela in exchange for the barrels.

According to Reuters shipping data, the latest cargo of Venezuelan oil products to Cuba left the port of Jose last Thursday: liquefied petroleum gas. In the second half of March, Reuters added, four tankers—two loaded with crude and two with oil products—left Venezuela for Cuba.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News