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realclearworld

Castro Kingdom to drill for oil again

oil-jed-clampett

Yee-hah, doggie! Them thar varmints the Castro brothers sure have a lotta gumption and a hankerin fer oil. They must want a cement pond fer theirselves bigger 'n mine.

It seems that the Castro dynasty has found a new foreign sucker who will drill for oil.

This time around it's a sucker from Grand Putinia, the country formerly known as Russia.

All previous attempts at finding black gold have failed.  And there is little chance any new drilling will be succesful....

But the Maximum Leader's dream must be fulfilled, come hell or high water.

Drill baby, drill!

Drill, baby, drill!

From Itar- Tass:

Rosneft signs agreements with Norwegian, Azerbaijani, Cuban companies

ST. PETERSBURG, May 24 (Itar-Tass) - Rosneft has signed an agreement with Norway's SeaDrill and North Atlantic Drilling, which is specialized in work under North Atlantic climate conditions. They have agreed on investments and long-term partnership to develop Rosneft's sea and ground projects for the period till 2022.

The document was signed at the St. Petersburg International Economic Forum. It envisages concluding agreements for Rosneft to receive a considerable share in North Atlantic Drilling Ltd and access for the latter to the ground drilling market in Russia and also long-term contracts for ground and sea drilling...

...Rosneft and Union Cuba Petroleo will cooperate in projects in Cuba. The two companies have signed a memorandum on cooperation, and a working group is formed to implement it.

According to CUPET, oil reserves in Cuba's offshore zone total 20 bln barrels. The U.S. geological service estimates the reserves at 4-9 bln barrels.

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