• Submitted by: manso
• Business and Economy
• 09 / 10 / 2010

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CIENFUEGOS, Cuba, Sept 9 (acn) A refinery operated by Cuban and Venezuelan oil companies in Cienfuegos has processed more than 55 million barrels of crude since January 2008, when the plant resumed operations.

Company’s executives made the announcement during a visit to the CUVENPETROL S.A. joint venture of Cuban vice president Ramiro Valdes accompanied by vice president of the Council of Ministers Ricardo Cabrisas and the minister of Basic Industry Yadira Garcia, reported Prensa Latina.

Some 14.4 million barrels of the total output were produced this year, said PL.

The government officials visiting the refinery learned about the progress of investment process on the industry seeking to increase the plant’s current refining capacity from 65,000 to 150,000 barrels a day by 2014.

Reactivated in 2007 after a US$160 million investment by Petroleos de Venezuela S.A. and Cubapetroleo, Cienfuegos’ refinery is the most important industrial project in the frame of the Bolivarian Alliance for the Peoples of Our America (ALBA).

It is also the core of the oil-chemical complex that will be created in the province, located in the central-southern coast of Cuba facing the Caribbean Sea and 250 Km southeast of Havana.

Valdes and the other officials accompanying him were briefed about the first stages of a road project that will reduce by 24 Km the route linking the refinery with the national highway, which is currently of 70 km.

Regarding the project, the Cuban vice president insisted on the quality of the work and rational use of resources, as he highlighted its strategic importance.
 
Source: ACN