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Petrocaribe summit for Cuba | ||||||||||||||||||||||||||||||||||||||||||
Leaders of Caribbean countries which are members of the Petrocaribe protocol will gather in Havana in December for their next summit. The announcement has come from Venezuela's ambassador to Cuba, Ali Rodriquez. Under the Petrocaribe agreement, Venezuelan provides oil to Caribbean 14 nations under preferential terms. The exact date for the meeting was not announced by Mr Rodriquez but he said the meeting would coincide with the inauguration of a Cuban refinery being rehabilitated by Venezuela. Venezuelan President Hugo Chavez plans to open the plant in mid-December. Refined Products The Soviet-era refinery at Cienfuegos on Cuba's south coast, is expected to process some 65,000 barrels of crude oil per day at the beginning and to reach 100,000 in the mid-term. It will serve as a Petrocaribe hub to supply participating countries with refined products such as gasoline, diesel and aviation jet fuel. Caribbean nations -- except Trinidad and Tobago and Barbados -- benefit from the 2005 Venezuelan initiative, which allows them to finance a portion of their costs long-term at low interest rates. The last Petrocaribe summit was held in Caracas in August | |||||||||||||||||||||||||||||||||||||||||||
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