• Categories
  • Archives

In Havana, Brazilian President Signs Pact to Explore Oil Off Cuba

Lula and Raul Castro Brazilian President, Luiz Inácio Lula da Silva, is in Cuba with a busy agenda, which  includes among other things visits to areas ravaged by recent hurricanes and the signing of an agreement between state-controlled oil multinational Petrobras and the Cuban state owned company, Cubapetroleo (Cupet).

When Lula was elected president there was this belief that Brazil would have an intense economic relationship with Cuba, but this didn't materialize.

Since Raul Castro took over the island's leadership, however, relations between the two countries have increased. Brazil seems ready to deal with Cuban sectors in need of investment, including energy, agriculture and infrastructure.

Lula is expected to meet with President Raul Castro and preside over the signing of an agreement that would allow Brazil to produce oil in Cuba.

Cuba's Communist Party Granma newspaper reported Thursday that Brazil's state-run oil company, Petrobras, will sign the deal on deep-water exploration, but gave no other details.

Lula will be traveling arrived in Cuba after visiting El Salvador, which hosted the 18th Ibero-American summit of leaders from Latin America, Spain and Portugal.

It is not clear, however, whether the Brazilian leader will visit former Cuban leader Fidel Castro, who has not been seen in public since undergoing intestinal surgery in July 2006.

The two men last met when Lula visited Cuba in January to sign a deal offering the island millions of dollars in food and financial aid in exchange for the rights to explore for oil off its coast.

Several other foreign oil companies have already made exploration deals with Cuba.

Bzz/VoA

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

China Obscuring Brazil’s Lula Charm

As the economic importance of the countries situated around the Pacific Rim has grown, ...

Brazil Wants United Defense in South America and Offers to Be Peacemaker

The Brazilian government will propose the creation of a South American Defense Board which ...

Brazil Vows to Let Viewers Shape the Country’s New Public TV

Brazil's public television, TV Brasil, started broadcasting this Sunday, November 2. The government-sponsored television ...

US Treasury Secretary Scolds Brazil for Corruption and Bureaucracy

The yuan needs to "adapt" to the vigor and strength of the Chinese economy, ...

Brazilians facing delays in airport

Brazilians Start to Stand Up for Their Rights

Brazilians often seem passive in the face of injustice and reluctant to take direct ...

In Brazil, Women Have Better Schooling than Men, But Worse Wages

Brazilian women conquered more space on the labor market in 2003 and surpassed men ...

Back to Their Land, Brazilian Indians Don’t Want to Depend on Government

Two weeks ago the Krahô-Kanela people returned to their Mata Alagada land. They are ...

Brazil’s Lula Starts to Throw His Weight Around

President Luiz Inácio Lula da Silva’s statement that the financial crisis had been caused ...

In Brazil, Blacks Earn Only Half as Much as Whites

A survey just released by the union-linked socio-economic studies department (Departamento Intersindical de EstatÀ­stica ...

Obama: The Same Who Want US Out of LatAm Now Say We Don’t Interfere Enough

American President Barack Obama joined Friday a controversy boiling in South America by denying ...