Oil Well In Cuba Comes Up Dry, Raises Questions About Future Exploration -- Miami Herald
After reporting that it found no oil in its well in Cuba, Repsol will likely now consider leaving the country.
Cuba’s dreams of an oil bonanza suffered a tough but possibly temporary setback Friday when the Spanish Repsol company confirmed it hit a dry hole when it drilled a well off the island’s northwest coast.
The dry well will put more pressure on Cuba’s dependence on Venezuelan oil and means the government of Raúl Castro needs to continue nurturing its tight relations with the ailing president of Venezuela, Hugo Chávez, one analyst said.
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Update: Repsol fails in first attempt to find oil off Cuba -- BBC
My Comment: This has not been a good month for the Spanish oil company Repsol. Argentina seized their assets last month .... and now this dry hole ....some self evaluation is in order.