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Monster Media 1994 #1
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OIL.TXT
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1994-01-01
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27 lines
12/30/93 PETROLEUM NEWS & QUOTES
The French oil company Geopetrol believes that Cuba is likely to find
further oil deposits on its territory, given its position in the Gulf of
Mexico and the geophysical characteristics of its soil.
Jean Louis Remondin, a senior manager with Geopetrol, said his company had
signed a contract with Cupet, a Cuban corporation, to undertake exploration of
a 1,600 sq. km area located to the west of Havana. Remondin also mentioned a
new contract for increasing production from wells at the Martin Mesa field in
Mariel, 45 km west of Havana.
In addition to offering foreign oil companies contracts to explore new
deposits, the Cuban government has also been offering contracts to revive
existing reserves. This strategy has enabled Cuba to increase its production
of crude from 882,000 tons in 1992 to more than 1 million tons this year,
despite of the oil's heavy quality with a high sulphur content, which limits
its use as fuel.
INT'L SPOT MARKET THURSDAY WEDNESDAY
UAE'S DUBAI LIGHT CRUDE $12.05-12.15 $12.33-12.35
NORTH SEA BRENT CRUDE $13.10-13.14 $13.35-13.40
WEST TEXAS INTERMEDIATE CRUDE $14.15-14.20 $14.45-14.50
LIGHT LOUISIANA SWEET $14.30-14.35 $14.60-14.65
NORTH SEA BRENT, (IPE) JAN $13.25 $13.50
SPOT MARKET (PER 100 GALLONS)
UNLEADED GASOLINE (GULF) $37.20-37.40 $37.79-37.99
NO. 2 HEATING OIL (NY) $44.31-44.51 $44.97-45.17