Saturday, December 20, 2008

Oil to play for - Could Cuba's oil end the embargo?

Cuba has long been assumed to be a minor oil producer, with estimated 2007 reserves of 124 million barrels. However, in October Rafael Tenreyro Pérez, the exploration manager for the state-owned oil company Cubapetroleo (CUPET) announced that the country had potential oil reserves of more than 20 billion barrels - a major increase on previous estimates and only nine billion fewer than the reserves of its northern neighbour, the US

[first posted to - 11 December 2008]

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