Posted on Thu, Feb. 02, 2006
U.S. officials to meet with Cubans over oil
MEXICO CITY — In the two years since oil reservoirs were discovered off Cuba’s coast, Canadian, Chinese, Indian and Norwegian companies have lined up to explore the potentially lucrative Caribbean waters.
U.S. corporations, however, have watched the activity less than 60 miles south of Florida’s coastline with their hands tied. U.S. oil exploration in Cuban waters is prohibited under a 45-year-old U.S. embargo designed to undermine Fidel Castro’s communist government.
This week, however, American energy executives will meet their Cuban counterparts in the first private-sector oil summit between the two countries.
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http://www.thestate.com/mld/thestate/news/nation/13770211.htm~~~~~~~~~~~~~~~~~~~~~~~~~~Feb. 1, 2006, 9:12PM
U.S. companies wait as others explore in Cuban waters
By JULIE WATSON
Associated Press
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"Right on our own border, there is going to be substantial activity in what is probably the last unexplored deposits in the world," said Kirby Jones, president of the U.S.-Cuba Trade Association.
This week, American energy executives meet their Cuban counterparts in the first private-sector oil summit between the two countries. Cubans hope to inform the businessmen of their country's oil potential while undermining the embargo, which has often frustrated American corporations.
The three-day meeting, which starts today, is sponsored by the U.S.-Cuba Trade Association, along with San Antonio-based Valero Energy Corp., the United States' biggest oil refiner, as well as the Louisiana Department of Economic Development and the Texas Port of Corpus Christi, among others.
Representatives from major U.S. oil companies are also expected to attend, Jones said.
Cuba's delegation is to be led by Fidel Rivero Prieto, president of the state oil company, CubaPetroleo. Officials from the Cuban Ministry of Basic Industries and Cuba's ministries of foreign trade, foreign investment and foreign relations will also be present, Jones said.
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http://www.chron.com/disp/story.mpl/business/3629539.html