Libya to invest into Soviet-design Cuban oil-refinery

The Libyan government is considering an investment project into a Cuban oil refinery, which was built in the Cienfuegos province using Soviet technologies.

Ali Rodriguez, the President of the Petroles de Venezuela State Company, disclosed this information when speaking to journalists in Caracas.

The refinery with a 3-million ton output in Cienfuegos was completed in 1991, but the production was never started there. According to Rodriguez, a Libyan governmental delegation has visited the company's headquarters this week. In line with a relevant request, the company submitted to the Libyan side all necessary information concerning investments into the facility.

Some three years ago, Petroles de Venezuela carried out a special research programme related to investments necessary to modernise the refinery.

Experts believe that the Cuban oil refinery needs at least 200 mln. dollars to start operating.

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Author`s name: Editorial Team