WASHINGTON — As speculation surfaces of oil prospects in Cuba, officials are worried that the United States’ embargo will fall short with trade, as the island continues to attract global investments from countries such as China. “If we insist on maintaining the embargo, other countries will benefit from that increased trade,” said Ronald Saligo, professor [...]
Today in Latin America Top Story — Ecuadorean President Rafael Correa said he will push legislation to allow the expropriation of private oil companies from Spain, Brazil, Italy and China if they refuse signing his new services-based contracts. Correa said that everyday millions of dollars went to private oil companies when they should be going to [...]
Today in Latin America Top Story — Russia signed a deal with Venezuela to jointly develop an oil field in the country’s Orinoco River region, according to Business Week. Work in the Junín-6 field could begin this year and is reported to have the potential to produce 450,000 barrels of oil per day, according to [...]
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