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 This material may not be published, broadcast, rewritten or redistributed.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:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

UN: Islamists Order Female Genital Mutilation in Iraq

Thursday, 24 Jul 2014 10:43 AM

The United Nations, expressing deep concern, said on Thursday that militant group Islamic State had ordered all girls an . . .

Pope Meets Christian Sentenced to Death for Faith

Thursday, 24 Jul 2014 10:04 AM

Pope Francis met privately Thursday with a Sudanese woman who refused to recant her Christian faith in the face of a dea . . .

FAA Lifts Ban on US Flights to Israel

Thursday, 24 Jul 2014 06:34 AM

The Federal Aviation Administration has lifted its ban on U.S. flights in and out of Israel, which the agency had impose . . .

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