Havana Cuba Business Travel Culture and Politics

Havana Cuba News

Cuba Business News

Posted May 19, 2003 by publisher in Business In Cuba

Email this article | Print this article | Search Havana Journal        

National News Agency CUBA (AIN)

Matanzas | Cuban Vice-president Carlos Lage inaugurated a new plant generator of electricity in the Oil Distributor Enterprise in Matanzas, an investment that will allow to save over US$ 1 million 400,000 annually.

When talking to the workers, Lage said that all the electricity of the nation is already produced with Cuban oil. The current consumption of Cuban electric plants includes 92 percent of crude and natural gas from the national hydrocarbon deposits, and eight percent of fuel oil produced by national refineries.

That allows to save half of foreign currency that would have been necessary to invest if that electricity would be generated with imported oil.
The high prices of oil in the world, impose great limitations that the nation is facing with ideas to save and rationalize, besides investments to reduce spends, Lage stated.

Would you like to add more information?


Only members can add more information. Please register or log in

  • Advertise at Havana Journal Inc
Images of Cuba
Osmosis - Cuban art - Painting by Wifredo Lam
Follow Havana Journal
SUBSCRIBE to our Cuba Watch newsletter
LIKE us on Facebook

FOLLOW us on Twitter

CONNECT with us on Linked In

Section Archive
Havana Journal, Inc. BBB Business Review



Member of the Association for the Study of the Cuban Economy