Cuban oil offensive
A few days before participating in the World Oil Congress in Moscow, Cuba opened new maritime areas to the prospecting for deposits by foreign companies as another sign that it has set its mind on expanding its oil capacity.
Two recent moves have confirmed the re-launching this year of Cuba’s bet on its oil potential. At the start of this month the Cuba Petróleo enterprise (Cupet) announced the opening of new maritime areas to the prospecting of deposits by foreign companies. This came when a delegation from that country was getting ready to participate in Russia in the 21st World Oil Congress. The timely announcement in advance lent weight to the expectations – foreseeable due to previous events – regarding the presentation of Cuba’s plans at the congress, held in Krokus City, on the outskirts of Moscow, June 14-19.
