U.S. Execs to Discuss Cuban Oil Reserves

Thursday, February 02, 2006
In the two years since oil reservoirs were discovered off Cuba's coast, Canadian, Chinese, Indian and Norwegian companies have lined up to explore the potentially lucrative Caribbean waters. U.S. oil exploration in Cuban waters - along with most U.S. trade - is prohibited under a 45-year-old U.S. embargo designed to undermine Fidel Castro's communist government. This week, American energy executives meet their Cuban counterparts in the first private-sector oil summit between the two countries. Cubans hope to inform the businessmen of their country's oil potential while undermining the embargo, which has often frustrated American corporations. The three-day meeting is sponsored by the U.S.-Cuba Trade Association, along with Valero Energy Corp., the United States' biggest oil refiner, as well as the Louisiana Department of Economic Development and the Texas Port of Corpus Christi, among others.

(Source: Seattle Post-Intelligencer)

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Saudi Oil Pipeline Set Alight

A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said.

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Hurricane Gonzalo Knocks out Bermuda Power

Power was knocked out to 80 percent of Bermuda's electricity grid due to Hurricane Gonzalo, the island's only power company, Bermuda Electric Light Co., said on Friday evening.

 
 
Maritime Contracts Maritime Security Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1138 sec (9 req/sec)