CUBA.
RUSSIA TO DRILL FOR OIL.
Russian oil companies could soon begin searching for oil, in the deep Gulf of Mexico waters off the coast of Cuba.
A top Russian diplomat, made the announcement, days before Russian President Dmitry Medvedev visit to the island two weeks ago.
Russian oil companies have concrete projects for drilling in Cuba’s part of the Gulf, said the Russian ambassador to Cuba, Mijail Kamynin.
The ambassador went on to say that, "Russian companies would like to help build storage tanks for crude oil and to modernize Cuba’s pipelines as well as play a role in Venezuela’s efforts to refurbish a refinery in the port of Cienfuegos".
Washington’s 50 year old trade embargo, prohibits American companies investing on the island. There is am estimated 4 billion barrels of oil sitting in reserves below Cuban waters.
Brazilan President Lula da Silva, has also invested heavily in oil exploration off the coat of the island.
