Venezuela and Cuba have reached a new agreement for their state-controlled oil firms, Pdvsa and Cupet, to collaborate.
Both countries aim to boost joint efforts in energy research and development.
According to an official report, the deal covers many areas which include oil exploration, production, and refining. Also, petrochemical projects are part of the plan.
While talking about the importance of the deal, Carlos Canelón, the leader of Intevep S.A., a Pdvsa subsidiary, said as both countries encounter barriers in accessing foreign tech, the agreement encourages local solutions.
He said: “We’ll use our own technologies to ensure stable oil production and refining.”
In a recent interview, Isis Dávila Rodríguez, the Technical Director of Cupet, outlined the benefits of the agreement. She stated that the focus is on enhancing product quality and safety.
She said: “Our shared goal is to boost market value through innovation and quality.”
The countries believe the deal will deepen their energy research ties and foster tech advancements.
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