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

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

Companies / Cuba Cuba's state-owned Companhia Cubana de Petróleo (Cupet) has announced that it believes that the island's offshore territory may hold in excess of 20bn barrels (bbl) of oil.

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...