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Cuban Oil Reexports: Significance and Prospects

Jorge F. Perez-Lopez

Year: 1987
Volume: Volume 8
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No1-1
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Abstract:
Since the early 1970s, Cuba has been selling oil products, obtained largely from imported Soviet crude, in Western Europe for hard currency. Initially, these sales were relatively small and limited to refined products, such as naphtha. More recently, the magnitude of these reexports has grown significantly, and the range of exported products has expanded to include crude oil.



Cuba's Transition to Market-Based Energy Prices

Jorge F. Perez-Lopez

Year: 1992
Volume: Volume 13
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No4-2
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Abstract:
Since 1960 the Soviet Union has been, for all practical purposes, Cuba's exclusive supplier of energy products. For certain time periods, Soviet sales of oil and oil products to Cuba were made at concessional prices; prior to 1991, they were priced using transferable rubles and were essentially bartered for Cuban goods, especially sugar.Effective January 1, 1991, the Soviet Union shifted to world market prices and convertible currency payments for all traded commodities, including energy products. The shift to market prices and convertible currencies in CubanSoviet energy trade has already brought-or is likely to bring a number of adjustments in four areas: 1) the trade balance; 2) the ability to reexport oil and oil products; 3) energy consumption patterns;. 4) and the structure of energy supplies.





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