I mean, if you sell Cuba 100,000 barrels of oil a day at something around a 40% discount to market prices you’re going to be long odds on favourite to get drilling licences before Exxon and Chevron, are you not?
From El Universo today:
Venezuela’s President Hugo Chávez said on Monday that Cuba has substantial oil reserves in its exclusive area in the Gulf of Mexico. He said that Venezuela will be drilling “soon” its first oil well on the island.
“We know that Cuba has a lot of oil and we will be drilling soon our first oil well,” the Venezuelan president told his Cuban counterpart Raúl Castro, during the official celebration of the Tenth Anniversary of the Comprehensive Cuba-Venezuela agreement, which was yada yada continues here