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Venezuelan President Hugo Chavez, energy minister arrive in Cuba
NEW YORK
Petroleumworld.com, Apr. 13, 2009Venezuelan President Hugo Chavez and Energy and Oil Minister Rafael Ramirez arrived in Cuba on Friday ahead of a regional trade summit set for later this month, the Cuban state-owned newspaper Granma reported.
The goal of the visit is to plan an April 16 summit of the Chavez-driven trade group Bolivarian Alternative for the Americas, or ALBA, which is scheduled to be held in Caracas, Granma said.
Alfredo Carquez, a spokesman for Venezuelan state-owned PDVSA, declined to give details to Platts on the purpose of Chavez's trip, but said officials plan to discuss existing agreements between the countries, "among other things."
PDVSA in December said the capacity of two refineries in Cuba will be expanded and a new one will be built, boosting the country's refining capacity to a projected 350,000 b/d from its current 87,000 b/d.
The expansions and the new refinery will be handled by a joint venture called Cuvenpetrol SA between PDVSA and Cuba's state-owned Cupet. PDVSA has not given a timeframe for the expansions and the size of each party's stake in Cuvenpetrol was also not revealed.
Venezuela provides crude oil to Cuba, PDVSA has said, though it has not disclosed the volume. Chavez's visit follows one by members of the US Congressional Black Caucus earlier this week with Cuban President Raul Castro and his brother and former long-reigning president Fidel Castro. Members of the delegation called for an "open dialogue" with Cuba and an end to the US embargo against the island-nation.
Asked about a possible detente between US and Cuba, American Petroleum Institute spokeswoman Cathy Landry said on Friday in an e-mail that "our priority is opening now off limits areas of the [US Outer Continental Shelf] to add more jobs, revenues and enegy security for the US."
The API has previously said it "does not support any US unilateral sanctions."
Story by Leslie Moore Mira from Platts
-leslie_moore@platts.com
Platts 04/10/2009
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