OIL

The introduction of a gas flaring system in Sancti Spiritus’s Sergio Soto Refinery avails new perspectives to crude oil processing in this plant, the only one in the country that exclusively works on Cuban raw material.»

Cubapetroleo oil company issued a press release explaining that exploration activity in a well located in the Cuban exclusive economic zone in the Gulf of Mexico resulted in the identification of an active oil reserve but with no capacity to be considered a commercial finding.»

Venezuelan oil company, Petróleos de Venezuela SA (PDVSA) is due to start exploratory drilling for crude in deep waters off Cuba, the company’s president announced on Thursday.»

A mobile offshore-drilling rig, the Scarabeo 9, arrived in Cuban waters on Thursday with the purpose of resuming deepwater oil prospecting in the coming days some 22 miles off the Cuban coasts, in the country’s Exclusive Economic Zone of the Gulf of Mexico.»