Ann: RIU Good Oil and Gas Energy Conference Presentation, page-90

Makes sense for the Power plants to use heavy sour crude oil... prob trucking/train makes sense here ... pipeline for the lighter oils..

I used to think MAY would be happy to sell out of the Cuban assets for a tidy profit ... but when you think about it Cuba GOVT wants the expertise of the MAY staff mgmt in-country they know its the best way forward for the country to have foreign skills/Capital in the country ... why not take advantage of a great working environment Vs much of the west anti Oil stance

Win/win for MAY if you have a pro-foreign investment Govt solid working relationship to pave the way forward when it comes to getting permitting , taxes , royalty I think red carpet rolled out going forward esp if MAY/SG are able to replace all the oil Cuab needs to import..

.. I compare to the dropkicks in power here in NZ that basically scared off future O&G investment(zero refinery capacity) and have seen much-skilled workers leave our shores ..yet I see very few EVs on the roads new fuel stations

...I don't think there is much of a Greenie "lets all ride bikes" movement in Cuba ...

From the Pres sounds like MAY happy to JVP out other Aussie permit ...