"Around 95% of Cuba's electricity is produced by power plants that burn oil. Fuel oil, diesel, even crude oil. So if you don't have the fuel, you cannot operate the plants," Torres says.

Cuba is itself a producer of oil and natural gas, and new reserves have been discovered in the last two decades. The island however produces around 38,000 barrels of oil per day, but consumes ...

A one-time Macquarie banker claims he found oil worth $30b in Cuba. Little-known Sydney-based company Melbana began production on Wednesday at what could be a large oil field on the north coast of ...

Cuban authorities were still struggling Monday to contain a raging fire at an oil storage facility at the port of Matanzas, after new explosions spread the flames to other oil tanks, raising ...

Rather than stopping production, which is ultimately more costly to restart, Venezuela is likely to send increased oil shipments to its ally Cuba, which has been in recent months enduring some of ...

Compounding the problems, Cuba burns crude oil as a fuel for its plants. Experts said Cuba’s own crude oil production is very heavy in sulfur and metals that can impair the thermoelectric ...

Rather than stopping production, which is ultimately more costly to restart, Venezuela is likely to send increased oil shipments to its ally Cuba, which has been in recent months enduring some of ...