CREDIT: shutterstock With diplomatic relations warming between the U.S. and Cuba, oil and gas companies may train their sights on what’s off Cuba’s coast — large oil reserves. Right now Cuba produces just over 50,000 barrels per day of oil and relies on Venezuela for around another 100,000 bpd. However with Venezuela’s economy reeling from the staggering drop in oil prices this year, Cuban officials want to avoid the impacts of a sudden drop in Venezuelan support.
Topics: credit venezuela s venezuelan saudi arabia brazilian malaysian spanish pavel molchanov raymond james politico even jorge piñon latin america caribbean energy program university texas fuelfix halliburton schlumberger soviet union gulf deepwater horizon-type obama republican-controlled congress white house the united states the cuban cuban oil may prove a boon for u.s companies thinkprogress cuba cuba s venezuela cuban u.s cuba mexico deepwater horizon u.s united states economic relations increase prices offshore current embargo drilling coast reserves place drop barrels gas avoid countries major solar wells sources previous told efforts percent renewable country rush firms
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