Cuba Petróleo Union

The Cuba Oil Union (Spanish: ''Unión Cuba-Petróleo'') or CUPET is

Cuba Cuba, officially the Republic of Cuba, is an island country, comprising the island of Cuba (largest island), Isla de la Juventud, and List of islands of Cuba, 4,195 islands, islets and cays surrounding the main island. It is located where the ...

's largest oil company. It is owned and operated by the Cuban national government. The company is involved in the

extraction of petroleum Petroleum is a fossil fuel that can be drawn from beneath the Earth's surface. Reservoirs of petroleum are formed through the mixture of plants, algae, and sediments in shallow seas under high pressure. Petroleum is mostly recovered from oil ...

deposits as well as the refining and distributing of petroleum products. In conjunction with the conglomerate

CIMEX ''Cimex'' is a genus of insects in the family Cimicidae. ''Cimex'' species are ectoparasites which typically feed on the blood of birds and mammals. Two species, ''Cimex lectularius'' and ''Cimex hemipterus'', are known as bed bugs and frequentl ...

, it operates a chain of filling stations selling gasoline in convertible pesos. The extraction is based in Cuba's northern region of

Havana Province La Habana Province , formerly known as Ciudad de La Habana Province, is a province of Cuba that includes the territory of the city of Havana, the Republic's capital. The province's territory is the seat of the superior organs of the state and i ...

(''Provincia de la Habana''). CUPET jointly produces oil on the island and has business agreements with, among others, the

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

, the Spanish oil company

Repsol Repsol S.A.
El Nuevo Herald, 2012-05-31Originally an init ...

and

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Sherritt International Sherritt International is a Canadian resource company, based in Toronto, Ontario. Sherritt is a miner and refiner of nickel and cobalt. Sherritt is also the largest independent energy producer in Cuba. Sherritt’s common shares are listed on th ...

. Cuba produces around of heavy crude oil. Various companies have explored for oil in Cuba over the last 15 years with the only new discoveries along the northwest heavy oil belt, an 80-mile (128 km) stretch of coast in

La Habana Havana (; ) is the capital and largest city of Cuba. The heart of La Habana Province, Havana is the country's main port and commercial center.