See how acute fuel shortage is affecting life in Cuba amid U.S. sanctions. More here:
- Long lines of drivers at gas stations in Cuba and hours of wait for public transport are signs of the impact of sanctions imposed by the United States this year on the Caribbean island and its main ally, oil producer Venezuela.
A bilateral pact signed in 2000 allows Cuba to pay for Venezuelan oil imports by offering services to the South American country ranging from doctors to advisers. Analysts say it is hard for Cuba to cover the shortfall with its fuel consumption by importing at market prices, given it is strapped for cash.
Cuba imports not only crude from Venezuela but also gasoline, diesel, fuel oil, lubricants and cooking gas, according to internal PDVSA data.Yes. But volumes have decreased. Venezuela this has sent year some 55,300 bpd of crude and fuel to Cuba, below the average of the last decade, according to internal PDVSA data and Refinitiv Eikon data.
Vessels owned by a joint Venezuela-Cuba transportation company, Transalba, also are covering the route, but the number of vessels operators and maritime crew willing to touch Venezuelan or Cuban ports has decreased in recent months due to the sanctions, according to shippers.Yes, but the island still overwhelmingly relies on oil supplies from Venezuela.
Analysts are not so confident. Cuba does not have a large number of oil suppliers since the U.S. government imposed an embargo on the island nearly 60 years ago and growing problems to find vessels are creating new obstacles to imports.Other than Venezuela, Algeria historically has supplied up to 5,000 bpd as barter, mostly for ophthalmology services received from Cuba, said Jorge Pinon from the University of Austin in Texas.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Honduras, Cuba to sign deal on deporting some Cuban migrants: Honduran presidentHonduras will sign an agreement with Cuba to deport Cubans who arrive in the Cen...
Read more »
Cuba 'sonic attack' might be connected to insecticide intended to fight Zika, study saysA mysterious illness that hit dozens of American and Canadian diplomats in 2016 in Havana, Cuba, is likely connected to insecticides sprayed to fight Zika virus, according to a new study from a team of scientists in Canada.
Read more »
France may face sperm shortage under Macron plan to ease IVF rulesFrance risks a shortage of frozen sperm if lawmakers approve new legislation tha...
Read more »
Honduras, Cuba to sign deal on deporting some Cuban migrants: Honduran presidentHonduras will sign an agreement with Cuba to deport Cubans who arrive in the Cen...
Read more »
Explainer: 'Only Bibi' no more - Israel's Netanyahu seeks power-sharing dealAfter failing to secure a clear election victory twice in six months, Israel&03...
Read more »
Explainer: Thomas Cook collapses - What next and why?Thomas Cook , the world's oldest travel firm, collapsed on Monday, strandin...
Read more »