HAVANA (Reuters) - Cuba has shifted its focus away from offshore oil, concentrating on renewable energy and improving output from onshore wells due to a lack of interest by foreign companies for further deepwater exploration, sources close to the industry say.

With so much oil readily available around the world, oil companies including those from allies China and Russia see little incentive in drilling off the Caribbean island, delaying the Cuban dream of oil wealth that could inject vigor into its socialist revolution.

With the U.S. trade embargo of Cuba further complicating drilling plans, the country is seeking investors in renewable energy such as biomass and wind while attempting to increase output from existing onshore and shallow water wells...


Recent Articles

Date Title
11/21/14 Cuban doctor arrives in Geneva for Ebola treatment
AP, Miami Herald
11/19/14 Top Obama aide won’t rule out unilateral easing of Cuba policy
Oliver Knox, Yahoo News
11/18/14 Why Entrepreneurship Matters in Cuba
Susan Segal, Americas Quarterly
11/17/14 A Cuban Brain Drain, Courtesy of the U.S.
Editorial Opinion, The New York Times
11/14/14 Yearning for a challenge, two top chefs plan restaurant in Cuba
Noe Torres, Reuters
11/12/14 Senators: We're Optimistic Cuba to Free Contractor
AP, ABC News
11/12/14 The new realities of running a business in Cuba
Jonathan Wolfe, Cristian Science Monitor
11/11/14 New York Times goes on a Cuban crusade
Thomas Sparrow, BBC
11/10/14 Aid agency rules would ban risky undercover work
Desmond Butler and Jack Gillum, AP
11/10/14 In Cuba, Misadventures in Regime Change
Editorial Opinion, The New York Times
11/10/14 Cuba’s Slave Trade in Doctors
Mary O'Grady, The Wall Street Journal
11/4/14 Cuban Government and USAID, a Fraught Relationship
Yoani Sanchez, The Huffington Post
11/4/14 Cuba seeks over $8 billion in foreign investment
Michael Weissenstein and Andrea Rodriguez, AP
11/3/14 A Prisoner Swap With Cuba
Editorial Opinion, The New York Times