Subscribe free to our newsletters via your
. Space Travel News .




OIL AND GAS
USGS reviews Cuba's oil potential
by Daniel J. Graeber
Washington (UPI) Apr 1, 2015


disclaimer: image is for illustration purposes only

Most of Cuba's petroleum demand is met by Venezuela and there is no commercial production from deep offshore reserves, the U.S. Geological Survey said.

USGS said it produced a briefing on Cuba's extractive industries in response to the re-establishment of diplomatic ties with the United States. Ties between both countries were severed in 1961.

Prior to the trade embargo enacted in 1962, U.S. companies held interests in several petroleum refineries in Cuba. Now, USGS said Venezuela dominates the sector by meeting more than 60 percent of the country's petroleum demand. The second largest refinery in Cuba processes only Venezuelan crude oil.

Most of the Cuban petroleum production comes from coastal reserve areas east of Havana.

"As of 2015, deepwater drilling by such foreign companies as Repsol of Spain and Zarubezhneft of Russia has resulted in no discovery of commercial quantities of oil or gas," the USGS report read.

The report follows a bill introduced last week by two Florida congressmen that would force companies to pay for oil cleanup on U.S. soil. Rep. Carlos Curbelo, R-Fla., and his Democratic counterpart, Patrick Murphy, said they were concerned about Havana's oil spill response plans now that Cuba was opening its doors.

A delegation from the U.S. National Oil Spill Commission visited Cuba in 2011 to examine Havana's oil plans. Cuba the same year announced plans to ease the dependency on Venezuela by developing its offshore reserves.

USGS estimated there were about 4.6 billion barrels of crude oil and 9.8 trillion cubic feet of natural gas in the form of undiscovered, technically recoverable, reserves in Cuba. About three quarters of that is said to be located within 50 miles from shore.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Germany outlines rules on fracking
Berlin (AFP) April 1, 2015
The German cabinet drew up rules Wednesday on the hitherto unregulated technology of "fracking" in Germany, narrowly restricting its use, but stopping short of an outright ban. Under the law, fracking will be banned in specified regions "to protect drinking water, health and the environment," the environment and energy ministries said in a statement. It would also contain "general restr ... read more


OIL AND GAS
Soyuz Installed at Baikonur, Expected to Launch Wednesday

Soyuz ready March 27 flight to deploy two Galileo navsats

UAE Moves to Purchase Russian Spacecraft Launch Platform

Russia Launches Satan Missile With S Korean Kompsat 3A Satellite

OIL AND GAS
Rover Amnesia Event Follows Latest Memory Reformatting

Ancient Martian lake system records 2 water-related events

Curiosity Rover Finds Biologically Useful Nitrogen on Mars

NASA's Opportunity Mars Rover Passes Marathon Distance

OIL AND GAS
Extent of Moon's giant volcanic eruption is revealed

Yutu Changes Everything We Thought We Knew About Our Moon

Extent of moon's giant volcanic eruption is revealed

NASA's LRO Spacecraft Finds March 17, 2013 Impact Crater and More

OIL AND GAS
Help Name New Features on Pluto

Name the features on Pluto and its moon Charon

Science Shorts: Why Pluto?

Pluto Science, on the Surface

OIL AND GAS
Earthlike 'Star Wars' Tatooines may be common

Planets in the habitable zone around most stars, calculate researchers

Our Solar System May Have Once Harbored Super-Earths

SOFIA Finds Missing Link Between Supernovae and Planet Formation

OIL AND GAS
Falcon 9 Evolves

Lockheed Martin buys high-speed wind tunnel

Aerojet Rocketdyne Hot-Fire Tests Additive Components for the AR1 Engine

Sierra Nevada Corporation Unveils New Dream Chaser Cargo System

OIL AND GAS
Chinese scientists mull power station in space

China completes second test on new carrier rocket's power system

China's Yutu rover reveals Moon's "complex" geological history

China's Space Laboratory Still Cloaked

OIL AND GAS
Next Steps on Journey to Mars: Progress on Asteroid Initiative

NASA plans to bring boulder into moon orbit

Comet 67P's Speed of Rotation Shows Signs of Slowing Down

Rosetta makes first detection of molecular nitrogen at a comet




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.