News Summary: 2nd Cuban offshore oil well a bust Associated Press Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 1:02 p.m., Monday, August 6, 2012 THE DRILL: A second deep-water exploratory well in the Gulf of Mexico has proved a bust, Cuba's state oil company announced Monday, dealing another blow to the island's dreams of petroleum riches. NOT WELL: it was disappointing news for a cash-strapped country hoping for an economic lifeline, after another well sunk by Spanish company Repsol came up dry in May. STILL PUMPED UP: Exploratory wells commonly turn out to be dry or not viable, and experts say production was always at least three to five years out from any confirmed strike.
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Business Heds Index, Seattle Post-Intelligencer: Business
Mon, 08/06/2012 - 3:42pm
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