Iran to help Cuban oil industry

Energy
Iran to help Cuban oil industry

TEHRAN, April 25 (UPI) -- Iran and Cuba have signed wherein the Islamic
republic will help Havana modernize its oil industry, IRNA reported.

The deal, signed by Iran's Agriculture Jihad Minister Mohammad Eskandari
and Cuba State Minister Ricardo Cabrisas, in Tehran last Saturday, came
as part of an economic cooperation agreement at the end of Iran-Cuba
joint 11th Economic, Scientific and Technical Cooperation Commission,
IRNA said in a Monday report.

Among other things, the two sides agreed to cooperate in building and
modernizing refineries and in oil exploration activities.

Cabrisas called the meeting a "success."

Cuba is one of the few nations in the Caribbean region to have
significant oil and gas reserves, according to the U.S. Energy
Department Energy Information Administration. Still, it is heavily
dependent on petroleum imports from Venezuela sold at a discounted rate.

Iran has the world's second-largest proven oil reserves, after Saudi Arabia.

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