Spanish oil company Repsol announced last month that it is withdrawing from Cuba after it failed to discover oil in an exploratory well. Repsol also came up dry when drilling in 2004 and now says that the risks no longer justify the expense for its blocks. Does Repsol's withdrawal have major implications for the future of drilling in Cuba? What are the next steps for the Caribbean nation's offshore projects?
Article re-posted as a PDF document with permission from the publishers as part of an Institutional Repository collection to aggregate Latin American energy policy, dialogue, white papers, reports, and educational materials.
Inter-American Dialogue's Latin American Energy Advisor. "What does Repsol's departure mean for Cuba's drilling future?." (2012). http://digitalrepository.unm.edu/la_energy_dialog/65