Wednesday, December 27, 2006

Cuba gives the shaft to business partner

It is a good thing that the Venezuelan castro wannabe does not expect to be paid back for the 90,000+ barrels per day provided to Cuba. That equates to about $2 billion per year…ouch! However, this will serve as fair warning to those who wish to give the Cuban regime credit…

Cuba owes Canadian oil firms $69 million: Pebercan
27/12/06
CALGARY, Alberta (Reuters) - Cuba's state-run oil company is behind in $69 million of payments to its Canadian partners in a heavy-oil-producing block on the north side of the island, one of the partners said on Wednesday.

The rest of the story [here].
But since it is a Canadian company, I am 16% less concerned.

2 comments:

Alberto P.R. said...

The article states that they plan to keep on drilling despite the amount of money owed. Greed and stupidity in my opinion.

Orlando said...

Alberto,

Avaracia total, se merecen lo que le pasa.

Saludos,