Cupet Believes Cuba's Offshore Holds More Than 20bn Barrels Of Oil

Russian Consortium Looks At Exploration Offshore Cuba

Political Risk / Cuba A Russian consortium is considering leasing as many as 15 exploration blocks covering 40,000sq km in Cuba's section of the Gulf of Mexico (GoM), according to a Cuban government official. In 2008, Cuba's...

Cupet Terminates Perbercan's PSC, Signs MoU With Russian Group

Companies / Cuba Canada-based explorer Perbercan has announced that Cuban state-owned oil company Companhia Cubana de Petróleo (Cupet) has withdrawn its production sharing contract (PSC) on the island.

PdVSA Plans New Cuban Refinery

Industry / Cuba Venezuelan state-owned oil company PdVSA plans to build a new refinery in Cuba with the capacity to process 150,000 barrels per day (b/d) of heavy crude.

Lukoil Delays Plans To Purchase Cuban Refinery

Companies / Cuba Russian private company Lukoil has put plans to buy a refinery in Cuba on hold due to delays in signing exploration and production (E&P) contracts for Venezuelan projects, according to the company's...

Havana Affair - Can Oil Soothe US-Cuba Relations?

Economy / Cuba In 2009 offshore exploration will begin in Cuba's section of the Gulf of Mexico (GoM). Should discoveries be made, oil could prove the catalyst for a thaw in relations between the US and Cuba, long-time...