Oil Investing News » Cuba negotiating oil exploration deal with Russia, China

Cuba negotiating oil exploration deal with Russia, China

March 19, 2009 @ 3:39 am In Oil Market News

Cuba is holding talks regarding oil exploration and production deals with Russia, China and Angola, with Moscow shaping up as the partner that could make the communist island energy self-sufficient.

Basic Industry Minister Manuel Marrero, said:

The Cuban oil industry's venturing out into deep sea waters in the Gulf of Mexico very likely will result in an increase in oil production.

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