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Cuba has three producing offshore oil fields within 5 km of its north coast. [2] A 2004 partnership between Spanish oil company Repsol-YPF and Cuba's state oil company Cupet estimated Cuba's off-shore reserves to be able to ultimately produce between 4.6 and 9.3 billion barrels of crude oil. [3]
The company is involved in the extraction of petroleum deposits as well as the refining and distributing of petroleum products. In conjunction with the conglomerate CIMEX, it operates a chain of filling stations selling gasoline in convertible pesos. The extraction is based in Cuba's northern region of Havana Province (Provincia de la Habana).
Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.
Top 5 oil-producing countries 1980–2022 World oil production. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2023, tabulating all countries on a comparable best-estimate basis.
HAVANA (Reuters) -Cuba's national electrical system collapsed early on Wednesday morning after the country's largest power plant failed, the government said, the latest of several such failures as ...
The economy of Cuba is a planned economy dominated by state-run enterprises. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution.
Category: Petroleum industry in Cuba. 4 languages. ... Oil and gas companies of Cuba (3 P) This page was last edited on 24 January 2020, at 23:30 (UTC). ...
For more than 60 years Cuba has buckled under US economic sanctions and its own government’s missteps. Life on the communist-run island could soon become even more grueling. One of the Cuban ...