Cuban Oil May Prove A Boon For U.S. Companies

Even if there is no rush, the arrival of U.S. oil and gas firms could help boost production through better drilling services. Jorge Piñon, director of the Latin America and Caribbean Energy Program at the University of Texas, told FuelFix that if companies like Halliburton and Schlumberger gave technological assistance to Cuba, the country could significantly increase the amount of oil it recovers from its current wells. He also said that Cuba wants to avoid the type of economic pain it experienced after foreign aid dried up along with the fall of the Soviet Union — something that could foreseeably happen with Venezuela if oil prices don’t rebound. More…