[NYTr] Cuba Produces Fuel Equivalent to Four Million Tons of Oil in 2007
 
Date: Wed, 26 Dec 2007 17:21:49 -0600 (CST)

Via NY Transfer News Collective  *  All the News that Doesn't Fit
 
Agencia Cubana de Noticias (ACN)
http://ainch.ain.cu/mailman/listinfo/ingles

Cuba Produces Fuel Equivalent to Four Million Tons of Oil in 2007

Havana, Dec 26 (acn) For the third occasion in its hiostory, Cuba will 
conclude this year with a production of fuel equivalent to four million 
tons of oil, Cuban Vice President Carlos Lage announced on Tuesday.

During a ceremony held on Tuesday in central Matanzas province to 
congratulate the workers of the oil industry in this territory, Lage 
said that the figure - which had not been achieved since 2003 - 
includes 2.9 million tons of crude oil and 1.2 billion cubic meters of 
gas.

Workers of the Cuban Company of Oil Drilling and Extraction 
participated in the ceremony that was presided over by Lage and by the 
Minister of the Basic Industry, Yadira Garcia.

In his speech, Lage stressed the importance of the levels of production 
of this hydrocarbon and the exploitation of 97% of the accompanying gas 
in the wells, as well as its use in the production of low-cost 
electricity.

Lage noted that, if Cuba had imported fuel oil to generate the 
electricity produced with the accompanying gas, it would have cost the 
island between 400 to 500 million dollars, which is twice the country's 
income for the sale of cigars and tobacco in the international market.

In 2007, he added, new seismic studies were conducted and 32 new wells 
were drilled, which was facilitated by the purchase of 10 drilling 
machines.

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