Such reserves would place Cuba among the top 20 oil producing nations. Cubapetroleo's estimates are based on comparisons to known oil reserves found within similar geological structures off the coasts ...

Access to “the largest oil reserves on the planet” In the early 2000s, Castro and Chavez struck a barter deal that pulled Cuba from the depths of its economic crisis with generous dose of ...

It is there that Cuba plans to drill for oil, after the discovery of highly promising oil and gas reserves in the North Cuba Basin in 2004. Should U.S. oil companies, such as Exxon Mobil , which ...

Cuba has long drilled for oil but has never produced enough for itself. However, the U.S. Geological Survey estimates there may be up six billion barrels of oil reserves offshore, enough to meet ...

The U.S. Geological Survey estimates that the waters north and west of Cuba contain 4.6 billion barrels of oil. State-owned Cubapetroleo says undiscovered offshore reserves all around the island ...

“Cuba has crude oil: it is logical not to import ... less fuel oil from the country sitting on the world’s largest oil reserves is reaching Cuban shores to power the old power plants on ...

There’s a shadow fleet sneaking Russian oil around the world ... and the country is short on cash. Cuba has little access to foreign currency reserves because its exports are low.

MEXICO CITY - A delegation of Cuban officials made another pitch for investment in its oil sector Saturday to a smaller group of Americans after being forced to relocate by U.S. government pressure.

The functioning of the Cuban economy hinges on imported petroleum. In the 1980s, Cuba depended on the USSR to supply 98 percent of its crude oil needs. Following the end of Soviet subsidies, Cuba’s so ...

As the Obama administration gestures toward improved relations with the Castro government, the security, energy and economic benefits of Cuban crude oil may make it an incentive for change.

Cuba relies almost entirely on imported oil and natural gas for electricity. Cubans consume 153,000 barrels per day, and of that, only a little under 50,000 barrels are produced domestically.