Cuba Won't Transport Venezuelan Diesel

On Friday night we reported that Cuba was facilitating shipping for the Petrocaribe Initiative which will see Venezuelan fuel distributed throughout the region on relaxed payment terms. Well, it turns out that was only an initial proposal, and one that was eventually not pursued. Shipping contracts are being tendered out on fully commercial terms, but it will not include mark-up, which will still make the cost less than Esso's. As for the depot, or as they are called, "tank farms," that the Venezuelans will build in the new venture with Belize, the first is scheduled for the Big Creek Port.