Category: Latin America
In his economic dreamland of surrealist juxtapositions and non-sequiturs, with visions free from conscious rationality, General Castro believes that improved state management is the way to save Cuba’s communist system. The hostility toward individual freedoms and success embodied in his … Continue reading
Will President-elect Trump confront the Russian psychological operations in Europe and Moscow’s meddling in the Middle East? Will the new administration be capable of strengthening the NATO alliance, thus keeping the Germans in and the Russians out? By Nicholas Dima … Continue reading
On January 18, 2011, I published on this website a report about Cuban oil prospects entitled, “Petroleum in Cuba: Current Situation and Mid-term Outlook,”.
The spectacular growth of shale gas in the U.S. has opened the path for similar developments in other countries. The speed at which these other countries can progress could be much higher since the technology perfected in the U.S. can now be applied elsewhere.
The most recent issue (November 2011) of $2.4 billion in bonds by Petróleos de Venezuela S.A. (PDVSA) will have the main purpose of paying part of its debt to the Venezuelan Central Bank.
Cuba currently produces about 48,000 barrels of oil per day and receives about 98,000 barrels per day of highly subsidized oil from Venezuela.