Tags: cuba | oil | dreams | bust

Cuba Dreams For Petroleum Windfall Again Come Up Dry

Friday, 02 Nov 2012 09:20 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

HAVANA — Cuban authorities say another exploratory deep-water well drilled in the Gulf of Mexico has come up a bust.

A statement from Cuban government oil concern Cubapetroleo says drilling by Venezuela's state oil company off the western part of the island concluded Oct. 26 and it was determined that the well "does not offer possibilities for commercial exploitation."

It adds that data gathered from the operation will allow for further exploration in the area.

However it is yet another blow to the island's dreams of a petroleum windfall.

Two other wells drilled this year by Spain's Repsol and a consortium including a subsidiary of Malaysia's Petronas and Russia's Gazpromneft also failed to strike oil.

Cubapetroleo's announcement was published Friday in Communist Party newspaper Granma.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

US Weighs Sending up to 300 Troops to Iraq for Security

Wednesday, 20 Aug 2014 16:58 PM

The United States is weighing sending up to 300 troops to Iraq to reinforce security at American diplomatic installation . . .

Obama, Allies Vow Firm Response to Islamic State

Wednesday, 20 Aug 2014 16:24 PM

The United States stood firm Wednesday in its fight against Islamic State militants who beheaded a U.S. journalist in Ir . . .

Israel Targets Hamas Military Chief as Cease-Fire Collapses

Wednesday, 20 Aug 2014 10:28 AM

Palestinian militants launched dozens of rockets and Israel responded with airstrikes on Wednesday after Egyptian effort . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved