Related Articles
Forward article link
Share PDF with colleagues

Cuba claims oil jackpot

IT HAS faced almost half a century of sanctions from the US, but last month the country claimed it could be sitting on oil reserves that surpass even those of its neighbour to the north. At a conference in Havana, Rafael Tenreyro Perez, the exploration manager for state-owned energy firm Cubapetroleo said the country's oil reserves could be more than 20bn barrels. If true, it would double previous estimates of the offshore potential. The US Department of Energy's Energy Information Administration last year estimated the country's reserves to be just 0.75bn barrels. The US Geological Survey has been more optimistic, saying the North Cuba basin could hold up to 9.3bn barrels and 21.8 trillion

Also in this section
Sisi keeps a lid on
16 March 2018
Egyptians face another four years of authoritarian rule
Egypt's gas strategy
16 March 2018
New natural gas coming on stream will boost the country's economy, in the short term
Tillerson ouster shakes up energy diplomacy
15 March 2018
American policy towards Iran and Venezuela will likely grow harsher, injecting more risk into energy markets