China to fund $6 Billion refinery expansion in Cuba | WHAT REALLY HAPPENED


China to fund $6 Billion refinery expansion in Cuba

China is taking another great leap forward in its Latin American energy plans, raising Cuba's energy importance in the process, with a deal to lead a $6 billion refinery expansion project on the communist island, experts said this week.

The project, to be funded mostly by China's Eximbank, is the latest of several significant moves in the region for the Asian power as it continues to expand its global influence.

For Cuba, the refurbishing of its antiquated refinery in the coastal city of Cienfuegos will provide an outlet for oil it hopes to tap soon in the Gulf of Mexico, while also laying the groundwork for the island to possibly become a key oil transhipment point for the Caribbean basin.

Webmaster's Commentary: 

I mention this is passing, only to point out that if it were not for the consistently insane US boycott of Cuba, access to that oil could well have gone to US companies.

US companies have business relationships with - and investments in - countries like Viet Nam, for heaven's sake!!

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