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Cuba oil: Offshore exploration brings hopes and fears

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posted on Feb, 3 2012 @ 05:12 PM
Cuba has recently been stepping up their oil business.

Venezuela and China and Spain are involved.

The U.S. might have missed this boat.

1 February 2012 Last updated at 12:34 ET -- BBC

The Scarabeo 9 oil rig had to be brought half way around the world to bypass the five-decade-long US trade embargo on Cuba.

After a slow trek by sea from China, it finally arrived in the region last week: a faint hulk on the horizon, shrouded in mist, as it passed Havana's waterfront, the Malecon.

This is a key moment for Cuba.

The island has two on-shore oil facilities that produce half of the oil it needs; it is heavily dependent on socialist ally Venezuela for the rest.

The government imports more than 100,000 barrels a day at subsidised rates, paid for with the services of some 30,000 Cuban doctors and other health officials working in Venezuela.

Article and map: OIL !! .. Cuba

Is Cuba Next ??

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