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View Full Version : Cuba claims massive oil reserves.


JoeChalupa
10-17-2008, 04:11 PM
Cuba claims massive oil reserves. (http://news.bbc.co.uk/1/hi/world/americas/7675234.stm)

The state-owned Cuban oil company says the country may have more than 20bn barrels of oil in its offshore fields - more than double the previous estimate.

Cubapetroleo's exploration manager said drilling in the offshore wells would begin as early as the middle of 2009.

Such reserves would place Cuba among the top 20 oil producing nations.

Cubapetroleo's estimates are based on comparisons to known oil reserves found within similar geological structures off the coasts of the US and Mexico.

The company said Cuba had undersea geology "very similar" to that surrounding Mexico's giant Cantarell and Poza Rica oil fields in the Bay of Campeche.

'More data'

Cuba's share of the Gulf of Mexico was established in 1977, when it signed treaties with the US and Mexico.

The US Geological Survey (USGS) recently estimated that as much as 9bn barrels of oil and 21 trillion cubic feet of natural gas could lie within that zone, in the North Cuba Basin.


Can we see Cuba from Florida?
Anti.Hero
10-17-2008, 04:56 PM
Go and get it mi amigos!
timvp
10-17-2008, 05:12 PM
Obama is probably going to befriend Cuba during his presidency. Pretty damn lame but it could lead to US oil companies getting at those reserves.
Anti.Hero
10-17-2008, 05:13 PM
BO is going to give Hugo rights to ANWR. America has too much oil infested territory and needs to spread the wealth.
ChumpDumper
10-17-2008, 05:14 PM
When Castro dies we're probably going to engage Cuba no matter what. Having another supplier of oil outside of OPEC can't be a bad thing.
1369
10-17-2008, 07:35 PM
So are the Chinese gonna drill there or not?
boutons_
10-17-2008, 07:44 PM
Easy expectation is that China, Russia, Venezuela, Iran and other American allies will be into Cuba for the oil.

Another expectation is that the US oilcos will tell/buy Congress to stop the isolation of Cuba (or maybe invade it) so the US oilcos can get at Cuban oil.
Cant_Be_Faded
10-17-2008, 07:54 PM
Obama is probably going to befriend Cuba during his presidency. Pretty damn lame but it could lead to US oil companies getting at those reserves.

Depends on what you mean by befriend.

Answer your pm's brah
Nbadan
10-19-2008, 12:37 AM
Obama is probably going to befriend Cuba during his presidency. Pretty damn lame but it could lead to US oil companies getting at those reserves.

I don't see why it would be 'lame' considering we've befriended Vietnam, Russia, China and even behind the scenes, Iran....