Cuba and Sherritt of Canada Sign Deal to Increase Oil Production

Fernando Ravsberg*

HAVANA TIMES – The Canadian company Sherritt announced Monday the signing of a new contract with Cuban authorities for joint venture drilling and production of oil and gas for 10 years, extendable to 2028.

pozo-de-petroleoThe agreement allows drilling in the area of Puerto Escondido, 45 miles (70 kms.) east of Havana, increasing the number of existing wells with 7 new ones, which will operate for the next 2 years.

Sherritt’s president, David Pathe, said “after two decades in the country, we have developed a great relationship with the government of Cuba.” He added, “We are very pleased to announce this expansion.”

Sherritt is the largest foreign oil producer in Cuba, supplying more than 20 thousand barrels per day. The Canadian company also has major contracts in Cuba for the extraction and refining of nickel and its derivatives.

The company’s executives have suffered reprisals from Washington for its economic relationship with Cuba, including being denied entry to the USA.
(*) Visit Fernando Ravsberg’s blog.

22 thoughts on “Cuba and Sherritt of Canada Sign Deal to Increase Oil Production

  • June 6, 2018 at 3:51 pm

    What happened was the US had investments in Cuba and then attempted to control Cuba politically in order to better its economic investments, by supporting Batista and then trying to overthrow Castro. If you play with fire you will get burned. And the US lost its economic investments because of its political interference. Tough bananas (and sugar and oil etc.)

  • June 8, 2014 at 4:30 pm

    Eisenhower applied the first Cuban embargo on Cuba – he did not like Batista.

  • June 8, 2014 at 4:26 pm

    Remember that it was Germany that declared war on the US, not the reverse.
    The US applied enormous political pressure to France and the UK when they pursued their rights in Suez following Gammar Abdul Nasser nationalising the Canal in 1956. The US claimed that the joint French//British action.was imperialism, BUT – when three years later Castro did the same thing as Nasser but to US property the story was different.

  • June 4, 2014 at 10:08 pm

    In case you didn’t notice, the Cuban economy is in a freefall and due to negative demographics, in 20 years Cuba will have more old people than young people to take care of them. The Castros, despite rumors to the contrary, will not live forever and if ever one of Fidel Castro legendary ‘Hail Mary’ harebrained schemes was needed, now is the time. This is no time for baby steps. So if this latest deal, like the Mariel Port, like the moringa and whatever else will not change Cuba, what will?

  • June 4, 2014 at 2:28 pm

    There were several violent groups in Cuba in those days who had engaged in bombing department stores, assassinations and other similar acts which could be called “terrorist”. The 26th July Movement, the DRE, and Batista’s secret police all employed violent methods. So the principle of prior bad acts applies to many people.

  • June 4, 2014 at 1:45 pm

    Griffin, in most state’s criminal evidence codes there is what is called prior bad acts. If someone was caught robbing a bank 5xs before and they say when accused the 6th time that it wasn’t them, that evidence can sometimes come in. So we are to believe that the same people who bombed department stores, movie theaters (during a children’s matinee) airports and centrales, did not, I repeat not, detonate La Coubre, which the GOUSA had tried to dissuade from ever docking in Cuba ?

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