Cuba has launched a bold policy of oil development that could turn the country into an important supplier of fuel in the Caribbean and the United States, should the embargo be lifted in the future. For full story, click here
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 [...]
Brazil’s state-run oil firm signed an agreement to explore for oil in deep Caribbean waters north of Cuba that officials in Havana say could contain 20 billion barrels of crude. For full story, click here
Petrobras has formed a venture with Cuba’s Cupet oil firm to carry out oil and gas exploration and production offshore Cuba, in order to tap oil from a 1,600 sq km concession block. For full story, click here For Petrobras’s website, click here
Cuban government announced there may be more than 20bn barrels of recoverable oil, which is more than double the estimate in offshore fields in the country’s share of the Gulf of Mexico. Kirby Jones, founder of the Washington-based US-Cuba Trade Association said: It would change their whole equation. The government would have more money and [...]
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