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 ...
can’t afford to ship it ? LOL
Maduro’s father Fidel will not take this news very well coming from his adopted protege.
Does Venezuela still ship cut rate heating oil to the Kennedys to distribute to Democrat voters in the Northeast?
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!
Life in Cuba’s about to get harder.
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