Times Of Future
  • Home
    • Posts
  • News
    • Business & Finance
  • TECH & AUTOS
  • ENTERTAINMENT
    • SPORTS
    • Fashion
    • Games
    • TRAVEL
No Result
View All Result
Times Of Future
  • Home
    • Posts
  • News
    • Business & Finance
  • TECH & AUTOS
  • ENTERTAINMENT
    • SPORTS
    • Fashion
    • Games
    • TRAVEL
No Result
View All Result
Times Of Future
No Result
View All Result

Devastating fire may force Cuba to resort to floating oil storage

Times Of Future by Times Of Future
August 9, 2022
in GENERAL
0
Fire rages at Cuba oil terminal; third tank collapses after spill -governor
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

Aug 8 (Reuters) – An inferno at Cuba’s greatest oil storage facility has killed no less than one firefighter, injured many extra, and threatens to additional swell the gasoline import invoice for the impoverished island country that is dependent upon international oil for the whole lot from transportation to its energy grid.

Cuban officers may want to scramble to arrange pricey floating storage capability to maintain imports geared toward easing an acute gasoline shortage, assets and mavens mentioned on Monday.

Cuba is dependent upon the two.4-million-barrel Matanzas terminal, about 60 miles (130 km) from Havana, for many crude and heavy gasoline imports and storage.

Register now for FREE limitless get right of entry to to Reuters.com

Matanzas is Cuba’s simplest terminal with the power to obtain massive tankers rated for 100,000 tonnes of deadweight. It additionally serves as a hub for home oil output to be combined for supplying the rustic’s energy vegetation, and for distributing imported gasoline and crude to native refineries.

A big fire spreading since Friday is predicted to spice up transport and import prices. Cuba used to be already suffering to manage to pay for gasoline purchases, and world tanker freight charges have skyrocketed since Russia’s invasion of Ukraine.

Cuba now may have to search long-term tanker charters for its storage wishes or smaller vessels to elevate imports. This logistical downside could be on best of restoration prices for the most important oil business coincidence in Cuba a long time. learn extra

ALSO READ:  Third fuel tank collapses as fire rages at Cuba oil terminal

In the primary part of the 12 months, Cuba imported 57,000 barrels consistent with day (bpd) of crude and gasoline from its primary best friend, Venezuela, Refinitiv Eikon information confirmed. The imports arrive onboard shrinking fleets of outdated tankers owned via Cuba or Venezuela.

Fire is noticed over gasoline storage tanks that exploded close to Cuba’s supertanker port in Matanzas, Cuba, August 8, 2022. REUTERS/Alexandre Meneghini

The Cuban executive has been ramping up purchases from others, together with Russia, to ease shortages that experience led to lengthy strains of drivers at stations and to energy rationing. President Miguel Diaz Canel has complained about nearly unaffordable gasoline costs this 12 months.

ALSO READ:  What are the 10 Essentials for Camping?

The Liberia-flagged tanker NS Laguna is scheduled to arrive in Matanzas subsequent week wearing some 700,000 barrels of Russian oil, in accordance to Eikon. The vessel follows a supply of Russian gasoline oil to the rustic in July.

If Matanzas’ containment partitions can prevent the fire from spreading to port berths, the receiving portion of the power may nonetheless be used for discharging imports and moving the oil to smaller tankers for floating storage, mavens mentioned.

Once the fire is extinguished, Matanzas’ berths may well be used to make an “u” to fill different vessels, which doesn’t constitute a hard technical problem.

A transfer to floating storage would possibly lead Cuba, a closely sanctioned nation, to ask the U.S. executive for aid from laws restricting the glide of vessels touching the island’s ports, the mavens mentioned.

“The most likely scenario now is that authorities will let burn the product remaining in the tanks while keeping the area as cold as possible by using water,” mentioned Lino Carrillo, a Canada-based professional and previous govt at Venezuela’s state oil corporate PDVSA.

ALSO READ:  Chile seeks to sanction those responsible for sinkhole near copper mine

Following a fire of the proportions noticed in Cuba, restoration usually takes time and tens of millions of greenbacks in upkeep, in accordance to analysts.

“Affected tanks will be useless after the fire and everything else connecting them within the containment walls,” Carrillo added.

Register now for FREE limitless get right of entry to to Reuters.com

Reporting via Marianna Parraga in Houston; Editing via David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

Marianna Parraga

Thomson Reuters

Focused on energy-related sanctions, corruption and cash laundering with twenty years of enjoy protecting Latin America’s oil and gasoline industries. Born in Venezuela and founded in Houston, she is creator of the e-book “Oro Rojo” about Venezuela’s state-run corporate PDVSA and Mom to 3 boys.

.

That used to be it for this newsletter. If you discovered it useful, believe testing our weblog Times Of Future!

Previous Post

How Russia Took Over Ukraine’s Internet in Occupied Territories

Next Post

Google TV is getting a ton of new powerful capabilities

Times Of Future

Times Of Future

RELATED POSTS

How to Make Acrylic Pins and Acrylic Stands at Home?
GENERAL

How to Make Acrylic Pins and Acrylic Stands at Home?

January 24, 2023
The Top 5 Reasons To Get A Custom Dakimakura Body Pillow
GENERAL

The Top 5 Reasons To Get A Custom Dakimakura Body Pillow

January 20, 2023
playing online poker
GENERAL

Is it possible to make a living playing online poker?

December 28, 2022
playing online poker
GENERAL

How to Find a Casino-Verified Site

December 28, 2022
Next Post
Google Chromecast with Google TV on table style photo

Google TV is getting a ton of new powerful capabilities

  • Trending
  • Comments
  • Latest
Mother cheetah with two 2 month old cubs on a termite mound in the Masai Mara

Rajkotupdates.news: Cheetah magnificent but fragile experts list concerns for cheetahs

November 22, 2022
YouTube

Rajkotupdates.news: A ban on fake YouTube channels that mislead users, the ministry said

November 22, 2022
Air India

Rajkotupdates.news: Air India will induct 30 aircraft in the next 15 months

November 22, 2022
Hasbulla Magomedov

Hasbulla Magomedov Age, Net Worth, Bio, height 2022

November 19, 2022
Ramneek Sidhu

Who Is Ramneek Sidhu? Entrepreneur & Digital Kings’ Owner

0
translate

çeirir: Complete guide on Why You Should Focus on Improving çeirir

0
Wpc2026

Wpc2026 Live: login, Registration, and Troubleshooting Guide

0
Pacman 30th Anniversary

Pacman 30th Anniversary and Doodle of Google 2022

0
Most table games on Major Site Toto

What are the some major stylish features

January 30, 2023
Rival gaming’s online slot machine, Wrath of Medusa on Toto Site

How to sites help to know about certified sites

January 30, 2023
Online Vegas Casino Offers a Wide Variety of Bonuses and Specials on Toto butt

Toto sites are better to use at digital phase

January 30, 2023
Places to play online slots offered by Rival Gambling on Major Playground Toto

Countries That Are Not Allowed of casino on Toto Site

January 30, 2023

LATEST NEWS

full moon december 2022
News

Full Moon December 2022: When and How to See Cold Moon?

by Times Of Future
December 5, 2022
0

...

Read more
bitcoin

Rajkot update news: who is the bitcoin created and who was made the first bitcoin transaction

November 22, 2022
News

Rajkotupdates.News: Reviews and Overview

November 22, 2022
Dollar currency growth concept with upward arrows on charts and coins background.

Rajkotupdates.news : us inflation jumped 7.5 in 40 years

November 22, 2022
India plans contentious law to cut $75 billion utility debt

Rajkotupdates.news: India is planning laws that will boost competition and reduce debt at its power distribution companies

November 22, 2022

Category

  • BIOGRAPHY
  • Business & Finance
  • Education
  • ENTERTAINMENT
  • Fashion
  • Games
  • GENERAL
  • LIFESTYLE & HEALTH
  • News
  • SPORTS
  • TECH & AUTOS
  • TRAVEL

Advertise

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis. Learn more

  • About Us!
  • Contact Us!
  • Privacy Policy!
  • Advertise With Us!
  • Terms and Conditions

Copyright © 2022 All Rights Reserved by Times Of Future

No Result
View All Result
  • Home
    • Posts
  • News
    • Business & Finance
  • TECH & AUTOS
  • ENTERTAINMENT
    • SPORTS
    • Fashion
    • Games
    • TRAVEL

Copyright © 2022 All Rights Reserved by Times Of Future