Challenges of the oil business in
Here’s a press release from the publicly traded Canadian company Pebercan, which is involved in oil production on
The press release begins by citing the “context of increases in the cost of raw materials and food staples” that has made it impossible for the Cuban oil company Cupet to make its payments. That sounds like Cupet saying that it wants to make the payments but the Central Bank won’t allocate the foreign exchange, because food imports are a higher priority.
If so, it’s a sign of the worldwide food and oil price crunch that is hitting