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Following the successful Cuban Revolution (1953–59), a socialist state was established in Cuba. In total, Cuba nationalized roughly 6,000 American owned properties. [4] The many individual oil and gas facilities were compacted into a single, state controlled company, The Cuba Oil Union (Spanish: Unión Cuba-Petróleo).
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]
In 1958, drilling contracts with the seven largest U.S. oil producers included wells 40 miles (64 km) north of Isabela, Cuba, near the island Cay Sal. In 1959 Bush bought control of Zapata Off-Shore, funded with $800,000, [ 13 ] splitting Zapata Corporation into two independent companies with the Liedtkes still in control of Zapata Petroleum.
Communist-run Cuba on Tuesday imposed sweeping price controls on all state and private businesses as it battles a deepening economic crisis and mounting U.S. sanctions. Resolutions published in ...
Gunvor also has trading offices in Singapore, Houston, Stamford, London, Calgary, and Dubai, with a network of representative offices around the globe. The company operates in the trade, transport, storage and optimization of petroleum and other energy products, as well as having investments in oil terminal and port facilities. Its operations ...
The US Geological Survey has estimated that 430 million barrels (68,000,000 m 3) of recoverable petroleum liquids and 5.2 trillion cubic feet (1.5 × 10 11 m 3) of recoverable natural gas underlie the US portion of the Great Lakes. Petroleum potential was given to all of the lakes except Lake Superior. The majority of the natural gas (3.0 TCF ...
Cuba runs short on fuel at pump as energy crisis festers December 13, 2024 at 4:26 PM HAVANA (Reuters) - Cubans still reeling from months of hours-long blackouts now have a new problem on their ...
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