Cuba is a net energy importer, mainly of oil. In 1998 Cuba imported an estimated 141,000 bpd of oil. Cuba currently produces an estimated 31,000 bpd of oil. There are also small amounts of domestic natural gas and hydroelectric power produced. In 1998, installed electric capacity was 4,325 MW. Oil-fueled thermal plants are the principal source of electric power.
In the summer of 1999, Cuba offered 59 deep water offshore blocks for oil exploration in an effort to attract international oil companies to the country. The country currently has 19 deposits in production, and overall production has increased dramatically in the last eight years. About six foreign companies (mostly Canadian) are already active in Cuba, and in January 2000 Cuba was reportedly soliciting investments from Dutch, British, Italian, Norwegian, French and Spanish companies. The United States maintains an economic embargo against Cuba, and oil companies from other countries may be subject to U.S. sanctions under the Helms-Burton Act of 1996.
Cuba has sought to boost its oil production in response to severe energy shortages since the collapse of the Soviet Union, which put an end to barter arrangements under which Cuba had access to relatively inexpensive oil supplies. Cuban oil production comes mainly from fields discovered in the 1960s and 1970s, when state oil company Cubapetroleo (Cupet) conducted limited exploration. Refineries process imported crude oil mainly from Venezuela and Mexico. Some oil is imported under an oil-for-sugar arrangement with Russia. Most domestic production consists of heavy oil whose sulfur content is so high that it can only be used for converted power and cement plants. The Cuban government estimates that oil production in early 1999 increased by 23% over the same period in 1998. About two-thirds of total domestic consumption comes from imported oil.
Cuba
Key Sectors
Energy: Production and Consumption of Primary Energy
(Quads)
| | 1994 | 1995 | 1996 | 1997 | 1998E |
Coal | Production | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Consumption | 0.0053 | 0.0052 | 0.0053 | 0.0055 | 0.0056 |
Net Exports | -0.0053 | -0.0052 | -0.0053 | -0.0055 | -0.0056 |
Hydro | Production | 0.0011 | 0.0011 | 0.0012 | 0.0012 | 0.0013 |
Consumption | 0.0011 | 0.0011 | 0.0012 | 0.0012 | 0.0013 |
Net Exports | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Natural Gas | Production | 0.0013 | 0.0015 | 0.0016 | 0.0016 | 0.0016 |
Consumption | 0.0013 | 0.0015 | 0.0016 | 0.0016 | 0.0016 |
Net Exports | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Nuclear | Production | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Consumption | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Net Exports | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Petroleum | Production | 0.0564 | 0.0607 | 0.0702 | 0.0707 | 0.0779 |
Consumption | 0.3965 | 0.4059 | 0.4155 | 0.4276 | 0.4323 |
Net Exports | -0.3401 | -0.3452 | -0.3453 | -0.3569 | -0.3544 |
Renewables | Production | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Consumption | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Net Exports | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0000 |
Sources: | US Department of Energy BP Statistical Review of World Energy 1997 are CountryWatch Estimates Based on DOE, BP Data |
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