Lula signs oil deal with Cuba
Brazilian property investors could be interested to hear that president Luiz Inacio Lula da Silva has signed an agreement for the Latin American nation to explore oil off the coast of Cuba, it has been reported.
President Lula struck a deal with the Caribbean country for state owned oil firms Petrobras and Cubapetroleo to cooperate in the exploration, according to Brazzil Magazine.
The publication notes that since Raul Castro took over as the Cuban leader relations between the two nations have increased and Brazil looks ready to invest in Cuban energy, agriculture and infrastructure.
"Cuba’s Communist Party Granma newspaper reported Thursday that Brazil’s state-run oil company, Petrobras, will sign the deal on deep-water exploration, but gave no other details," the news provider states.
Meanwhile, it was reported by the Brazil Arab News Agency Kuwait is seeking investment opportunities in the Latin American nation.
The Kuwaiti ambassador to Brazil is visiting the sate of Bahia to evaluate investment opportunities.
