Russia poised to take over subsidization of Cuban dictatorship from Venezuela

How few are the days left for Venezuelan dictator Hugo Chavez? So few that Cuba’s dictatorship is already lining up another financial supporter to prop up and maintain their tyranny.

Via Russia Beyond the Headlines:

Russia to inject $3 billion into Cuban projects

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Russian state-run oil company Zarubezhneft is poised to invest about $3 billion in Cuban projects over the next 13 years, according to presidential aide Yury Ushakov, who made the announcement last week. Ushakov commented on Russian-Cuban engagement in the energy sector at a briefing covering upcoming talks between President Vladimir Putin and Cuban leader Raúl Castro.

Most of the current oil deposits in Cuba were explored by Soviet specialists, Ushakov said, adding that Zarubezhneft and Gazpromneft are already implementing large oil projects in the country.

“Zarubezhneft alone has invested $40 million in Cuba since 2009, whereas by 2025, the company plans to invest a total of $2.9 billion,” Interfax quoted Ushakov as saying.

According to RIA Novosti, Zarubezhneft will start drilling an exploratory well at Cuba’s Block L this November. The Russian company has leased a Songa Mercur drilling rig from Songa Offshore.

Last year, Zarubezhneft and Cuban Cuba?etroleo signed four contracts for geological exploration and production of hydrocarbons. The contracts were the first of this kind between Russia and Cuba in the last 20 years. Specifically, they explain the involvement of Russian companies in exploring and producing hydrocarbons on four blocks – two onshore and two offshore.

Block L is located to the north of Sancti Spíritus and Ciego de Ávila provinces, in the central part of the country. Previously, Zarubezhneft said it would give up one of the blocks, citing its poor prospects, and would focus on the other three instead.

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3 thoughts on “Russia poised to take over subsidization of Cuban dictatorship from Venezuela”

  1. There’s no end to the castro dictatorship. The castro’s are singularly evil and ruthless dictators that will do anything to insure that their family syndicate stay at the helm of the country. They’ve already destroyed the integrity of the nation by selling it off piecemeal to every foreign investor willing to buy into its wealth, they’ve already destroyed the country demographically, culturally, socially and spiritually, now they are trying–as I mentioned–to ensure that the future generations of castro’s keep control. For its always been about them and that is it. Cuba es el latifundio de los castro’s.

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