BRASPETRO NEGOTIATING CUBAN E&D VENTURE

Another South American state oil company is negotiating a venture in Cuba. Brazilian Petroleos Brasileiro SA's Braspetro is negotiating with Cuba's Uniao del Petroleo a risk contract covering offshore and onshore exploration and development along Cuba's northern coast. Braspetro also may provide technical help in refining and marketing Cuban petroleum products. That follows reports of Havana negotiating with Petroleos de Venezuela SA a proposed joint venture refining deal in Cuba

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