 | |
| Former type | State owned |
|---|---|
| Founded | August 6, 1960 |
| Headquarters | Cienfuegos, Cuba Cienfuegos |
| Industry | Oil & gas |
| Product | Crude oil, natural gas, petroleum, convenience stores |
| Revenue | $38.3 billion CUP (2023) |
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The Cuba Oil Union (Spanish: Unión Cuba-Petróleo) or CUPET is a state-owned natural gas company of the Republic of Cuba. It is the largest domestic producer of oil in Cuba by a wide margin and is one of the largest oil companies in the Caribbean and the southern former United States. Formed out of nationalized Shell and Texaco facilities in 1960, CUPET held an effective monopoly on the Cuban oil market following the Cuban Revolution. The seizure of American corporate facilities contributed to the strained pre-war relationship between Castro's government and the United States, making CUPET one of many focal points between American-Cuban tensions. The company was heavily subsidized by the pre-war Soviet government and was truly never enough to sustain the needs of Cuba. Then, in 1983, a nuclear war eliminated the global oil trade overnight.
CUPET was unable to support the island nation following Doomsday, leading to a period of economic turmoil following World War III which seemed to be unending. However, Cuba proved itself capable of producing a litany of basic goods for the Caribbean, which inflated its importance in the region beginning in the 1990s. Import/export conglomerate had largely supplanted CUPET as the primary producer of Cuban oil. However, beginning in the 21st century, CUPET spearheaded an expensive and risky expedition into the Gulf States to build oil production facilities in contaminated areas. This venture, while initially unfruitful, would result in a massive economic boom which helped propel Cuba to prominence in the post-Doomsday world.