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|Cuba doubles oil reserves estimate
Published: Friday 17 October 2008 14:35 UTC
Last updated: Friday 17 October 2008 14:35 UTC
Cuba's oil reserves may be larger than originally estimated. The BBC is reporting that the country's state-owned oil company says it may have more than 20 billion barrels of oil in the Cuban oil fields in the Gulf of Mexico. That is twice the amount of all previous estimates.
If the figure were correct, it would make Cuba's oil reserves as large as those of the United States and twice as large of those in Mexico. It would also add the island to the list of the twenty largest oil producers in the world.
The state-owned oil company says it expects to begin drilling for oil in the middle of next year.
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