Drilling of an exploratory well in Cuba's
virgin Gulf of Mexico waters that could make the Communist nation
an oil exporter and undermine the U.S. embargo has been
completed, a senior official said. Work on the well by Spain's Repsol
YPF began in June and captured the attention of the industry and
governments due to its potential economic and political
consequences. "The drilling has ended and the Spanish company is
assessing the results. We don't know if there is good quality oil
yet. We expect to be informed in two weeks," the Cuban official,
who spoke on the condition he was not identified, said on
Saturday evening. A commercially viable find could transform the
cash-strapped island from oil importer to petroleum exporting
nation, adding pressure on the United States to lift its
four-decades-old trade embargo against President Fidel Castro's
government. [more]
Article originally appeared on (http://brownwatch.com/).
See website for complete article licensing information.