Subscribe free to our newsletters via your
. Space Industry and Business News .




OIL AND GAS
USGS reviews Cuba's oil potential
by Daniel J. Graeber
Washington (UPI) Apr 1, 2015


disclaimer: image is for illustration purposes only

Most of Cuba's petroleum demand is met by Venezuela and there is no commercial production from deep offshore reserves, the U.S. Geological Survey said.

USGS said it produced a briefing on Cuba's extractive industries in response to the re-establishment of diplomatic ties with the United States. Ties between both countries were severed in 1961.

Prior to the trade embargo enacted in 1962, U.S. companies held interests in several petroleum refineries in Cuba. Now, USGS said Venezuela dominates the sector by meeting more than 60 percent of the country's petroleum demand. The second largest refinery in Cuba processes only Venezuelan crude oil.

Most of the Cuban petroleum production comes from coastal reserve areas east of Havana.

"As of 2015, deepwater drilling by such foreign companies as Repsol of Spain and Zarubezhneft of Russia has resulted in no discovery of commercial quantities of oil or gas," the USGS report read.

The report follows a bill introduced last week by two Florida congressmen that would force companies to pay for oil cleanup on U.S. soil. Rep. Carlos Curbelo, R-Fla., and his Democratic counterpart, Patrick Murphy, said they were concerned about Havana's oil spill response plans now that Cuba was opening its doors.

A delegation from the U.S. National Oil Spill Commission visited Cuba in 2011 to examine Havana's oil plans. Cuba the same year announced plans to ease the dependency on Venezuela by developing its offshore reserves.

USGS estimated there were about 4.6 billion barrels of crude oil and 9.8 trillion cubic feet of natural gas in the form of undiscovered, technically recoverable, reserves in Cuba. About three quarters of that is said to be located within 50 miles from shore.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Germany outlines rules on fracking
Berlin (AFP) April 1, 2015
The German cabinet drew up rules Wednesday on the hitherto unregulated technology of "fracking" in Germany, narrowly restricting its use, but stopping short of an outright ban. Under the law, fracking will be banned in specified regions "to protect drinking water, health and the environment," the environment and energy ministries said in a statement. It would also contain "general restr ... read more


OIL AND GAS
Study reveals novel technique for handling molecules

Twisted nanofibers create structures tougher than bulletproof vests

A method to simplify pictures makes chemistry calculations a snap

Metals used in high-tech products face future supply risks

OIL AND GAS
Rockwell Collins intros new military communications system

NATO country orders tactical radios

Unfurlable Mesh Antennas Deployed On Third MUOS Satellite

Harris continues engineering support for government communications

OIL AND GAS
Soyuz Installed at Baikonur, Expected to Launch Wednesday

Soyuz ready March 27 flight to deploy two Galileo navsats

UAE Moves to Purchase Russian Spacecraft Launch Platform

Russia Launches Satan Missile With S Korean Kompsat 3A Satellite

OIL AND GAS
India Launches Fourth Satellite in Effort to Develop Own Navigation System

Europe resumes Galileo satnav deployment

Countdown Begins for ISRO's Navigation Satellite Launch

Europe poised to launch more navigation satellites

OIL AND GAS
KAI preferred bidder for new Korean Air Force jet

Thailand admits 'urgent' need to improve aviation safety

Australia commissions MH-60R Seahawk training simulator

Dutch seek BUK missile witnesses in MH17 crash probe

OIL AND GAS
Next important step toward quantum computer

Superfast computers a step closer as a silicon chip's quantum capabilities are improved

'Goldilocks material' could change spintronics

Twisted light increases efficiency of quantum cryptography systems

OIL AND GAS
UK data hub will maximize benefits of Europe's EO program

US and UAE Ink Bilateral Space Cooperation

Space Radar Helps Track Underground Water Pollution Risk

New NASA Mission to Study Ocean Color, Airborne Particles and Clouds

OIL AND GAS
Models in gas masks highlight Indonesian environmental devastation

Lisbon, Luxembourg rank Europe's worst for pollution fight: study

Air pollutants may bolster airborne allergens

Paris forces even-numbered cars off roads to fight smog




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.