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Caribbean


11% Power Bill Fall If Renewable Energy Goal Met

A working paper released on March 8th by the IMF looks into power sector challenges and how Caribbean strategies can address them.  Using its National Energy Policy, the Bahamas can reduce the cost of its national electricity bill by 11 percent by attaining the goals set in the policy.  The working paper, called ‘Caribbean Energy:…

What Greg Abbott’s trip to Cuba says about his politics

An article that takes a closer look at Gov. Greg Abbott’s two-day visit to Cuba. The governors’ companions, as well as Cuban workers and journalists share their experience during Abbott’s visit.  Energy expert Jorge Piñon, a Cuban native, talks about what Abbott’s visit means to Cuban-Americans and what it says about Abbott as a leader and…

China oil storage lease helps revive Caribbean refiner Hovensa

China’s Sinopec has announced a deal with Caribbean refiner Hovensa, one that could bring the company out of bankruptcy. Sinopec will be leasing 75% of Hovensa for 10 years and using it as a storage facility while it expands to the Latin American market. by Joshua Schneyer, Reuters, Dec. 01, 2015 A long-sought deal to bring…

BHP updates Angostura development offshore Trinidad and Tobago

BHP began drilling the Angostura-1 well, in 5,000 ft of water offshore Trinidad and Tobago’s east coast. This Angostura Phase III is expected to contain 500 billions of standard cubic feet of gas, adding up to 1.75 tcf contained in the entire Angostura development. by Curtis Williams, Oil & Gas Journal, Nov. 12, 2015 BHP…

Cuba to explore Gulf of Mexico for oil

Cuba to explore Gulf of Mexico for oil

Cuba is setting up a new drilling campaign to search for oil in its Gulf of Mexico zone. This campaign is expected to start either late 2016 or early 2017. Perforations, which go beyond 500 meters deep, will be performed by PDVSA and Sonangol. Cuba admits to have evidence of existing petroleum in this area, now they’re…

Additional Funding For Eastern Caribbean Sustainable Energy Program

A loan of $71.5 million USD has been signed to grow the renewable energy sector in the Caribbean. The grant package was signed as part of the Sustainable Energy Facility (SEF), which has the potential to provide better energy security for the countries of the regions. by Curaçao Chronicle Additional funding has been put in place…

U.S. Geological Survey reports on Latin America

The U.S. Geological Survey (USGS) is a science organization dedicated to providing impartial information for a better understanding of the Earth.  As the Nation’s largest water, earth, and biological science and civilian mapping agency, the USGS collects, monitors, analyzes, and provides scientific understanding about natural resource conditions, issues, and problems. USGS reports are published on…

Oil Prices and the Future of Petrocaribe

Oil Prices and the Future of Petrocaribe

Petrocaribe was originally created by Venezuela as a Cooperation Agreement for energy security among Caribbean and Central American Countries. In a decade 32% of the countries’ oil demand was met through this agreement. However, what happens when oil prices hit an all time low? Can Venezuela continue to provide stability to this mechanism? by Otaviano…

Historic oil meeting in Cuba set for October

Leaders and experts of the oil industry will meet in Havana, Cuba in October to establish environmental and safety policies for oil drilling in the waters shared by both countries. The relationship between both becomes stronger, yet the trade embargo remains, limiting the availability of high-tech drilling equipment and techniques by David Goohue, The Reporter, July 23,…

Low oil prices hamper Mexico’s deregulation, limit potential Cuban development

Expert Jorge Pinon talks to World Oil about the future of oil in Mexico. He believes that current projects will take up to seven years to monetize, raising questions among investors as to how future oil prices affect their investment. On the other hand, Pinon says that Cuba’s oil industry has yet to demonstrate its potential. After five failed attempts, low…

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