Oil Drilling in Cuba

The Cienfuegos Project is moving forward. Read about the new deal that is upping China’s plans in Latin America. The deal is to lead a $6 billion refinery expansion project on the island. More on Reuters.com. According to ParticularCuba blog:

“The oil marriage of China with Latin America is one made in energy heaven, said analyst RoseAnne Franco at energy and mining consulting firm Wood Mackenzie in Houston. ‘The regions are clearly of complementary interest. China is looking for energy security while Latin America is eager for new consumer capital markets,’ she said. ‘There is a good foundation there for the relationship.’ “

They also quote an oil expert at Florida International University in Miami, Jorge Pinon, who thinks if normal relations with the United States were ever to be restored, then Cuba (only 90 miles from Florida) would be well positioned to serve the US market.

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