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Venezuela slashes oil shipments to Cuba, Caribbean in half
Miami Herald ^ | March 26, 2015 | By Antonio Marķa Delgado

Posted on 03/27/2015 5:16:56 PM PDT by Brad from Tennessee

Venezuela has cut in half its subsidized shipments of crude oil to Cuba and Petrocaribe member nations to 200,000 barrels per day, down from 400,000 shipped in 2012, a Barclays report says.

Also, the British investment bank’s report considered it “ironic” that Venezuela would ship any oil at all, highlighting that while the country is going through extreme difficulties, it continues to subsidize oil sales to countries that have healthier economies. . .

Because of the cuts in oil shipments to the Caribbean, the firm reduced its deficit forecast for Venezuela to $22.6 billion, down from more than $30 billion predicted for 2015.

“The oil agreements have been a heavy burden for Venezuela. These deliveries reached 400,000 bpd at their peak in 2012, though Venezuela only received payment for 200,000 bpd,” said the Barclays report, citing figures from Petrologistics, the firm that follows tanker movements. “In the last decade, the agreements have cost Venezuela up to $50 billion,” added the report, titled Reducing Generosity.

(Excerpt) Read more at miamiherald.com ...


TOPICS: Extended News
KEYWORDS: caribbean; communism; cuba; economy; oil; venezuela

1 posted on 03/27/2015 5:16:56 PM PDT by Brad from Tennessee
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To: Brad from Tennessee

can’t afford to ship it ? LOL


2 posted on 03/27/2015 5:25:33 PM PDT by molson209 (Blank)
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To: Brad from Tennessee

Maduro’s father Fidel will not take this news very well coming from his adopted protege.


3 posted on 03/27/2015 5:45:45 PM PDT by tflabo (Truth or tyranny)
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To: Brad from Tennessee

Does Venezuela still ship cut rate heating oil to the Kennedys to distribute to Democrat voters in the Northeast?


4 posted on 03/27/2015 5:47:20 PM PDT by nascarnation (Impeach, convict, deport)
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To: Brad from Tennessee

So Venezuela basically gave Castro fifty billion dollars, and now they can’t afford toilet paper?

Hey! Venezuela! Wipe your ass with Castro’s beard!

Hahahahahahahahaha!


5 posted on 03/27/2015 5:51:36 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: Brad from Tennessee

Life in Cuba’s about to get harder.


6 posted on 03/28/2015 2:51:24 AM PDT by RWB Patriot ("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
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