Cuba, China agree to develop oil deposits

[rainbow4321]

I'm having images of shrub throwing a toddler-like temper tantrum "MY oil, MY oil" Waaahh-waahhh-waahhhh!


http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20050201/RTICKER01-16/TPInternational/Asia


Cuba signed a production contract with China Petroleum & Chemical Corp., or Sinopec, to work in areas around the island believed to contain oil deposits, the government announced yesterday. The agreement was reached in an early meeting on Sunday, according to an official note in Granma, the Communist party daily newspaper. "The contract confirms ascending political and commercial relations between the two countries," the front-page note said. It did not say what the contract was worth. Cuba currently produces 75,000 barrels of oil daily, about half of what it needs. It imports much of the rest from political ally Venezuela. (AP)

[hadrons]

1. I have to say, I enjoy seeing all the right-wingers in Miami ...

watching Cuba wheeling and dealing and the rest of the world thumbing their nose at the embargo

[Judi Lynn]

5. They've been hoping all along to control it all over again, one day.

It can't be a pretty sight in Miami!

[Emillereid]

2. China seems to have been very busy of late securing oil the

old fashion way -- through business deals, while we're still bogged down trying to steal it!

[Dark]

3. Didn't they just sign a deal with Iran regarding pharmaceuticals? n/t

[rainbow4321]

8. An Iran/China oil deal, too?

Well..as I was googling for Iran/China <drugs, etc...> this came up. Am I taking all of these articles the wrong way or are we looking at a US/China "whoever dies with the most oil wins" ugly kind of showdown? Geez, we may have to rely on CHINA to keep shrub from taking over yet another country and starting more wars..

http://japanfocus.org/181.html

TEHRAN - Speaking of business as unusual. A mere two months ago, the news of a China-Kazakhstan pipeline agreement, worth US$3.5 billion, raised some eyebrows in the world press, some hinting that China's economic foreign policy may be on the verge of a new leap forward. A clue to the fact that such anticipation may have totally understated the case was last week's signing of a mega-gas deal between Beijing and Tehran worth $100 billion. Billed as the "deal of the century" by various commentators, this agreement is likely to increase by another $50 to $100 billion, bringing the total close to $200 billion, when a similar oil agreement, currently being negotiated, is inked not too far from now.

The gas deal entails the annual export of some 10 million tons of Iranian liquefied natural gas (LNG) for a 25-year period, as well as the participation, by China's state oil company, in such projects as exploration and drilling, petrochemical and gas industries, pipelines, services and the like. The export of LNG requires special cargo ships, however, and Iran is currently investing several billion dollars adding to its small LNG-equipped fleet.

While it is unclear what the scope of China's direct investment in Iran's energy sector will turn out to be, it is fairly certain that China's participation in the Yad Avaran field alone will exceed the ILSA's ceiling; this field's oil reservoir is estimated to be 17 billion barrels and is capable of producing 300 to 400 barrels per day. And this is besides the giant South Pars field, which Iran shares with Qatar, alone possessing close to 8% of the world's gas reserves. Up to now, Tehran has been complaining that Qatar has been outpacing Iran in exploiting its resource by 6 :1. In fact, Iran's unhappiness over Qatar's unbalanced access to the South Pars field led to a discrete warning by Iran's deputy oil minister and, soon thereafter, Qatar complied with Iran's request for a joint "technical committee" that has yet to yield any result.

For a United States increasingly pointing at China as the next biggest challenge to Pax Americana, the Iran-China energy cooperation cannot but be interpreted as an ominous sign of emerging new trends in an area considered vital to US national interests. But this deal should, logically speaking, stimulate others who may still consider Iran untrustworthy or too radical to enter into big projects on a long term basis.

[Inland]

4. Having Chinese interests about only way to forestall Bush from stealing it

Bush doesn't dare cross the Chinese in any way, shape or form.

Say, remember when the righties were so incensed that Clinton allowed the Chinese to have a civilian, commerical interest near the Panama Canal?

[robertpaulsen]

6. Smooth move China, Cuba just found oil deposit of 100 million barrels.

Cuba Announces Crude Oil Discovery

December 25, 2004

By: Staff
Associated Press

HAVANA -- President Fidel Castro said a crude oil deposit has been discovered off Cuba containing up to 100 million barrels, good news for a country that imports about half the petroleum it needs.
"This is the first discovery since 1999," Castro said Friday in a speech to a closed session of the National Assembly. His comments were aired on state television Saturday.

Castro said the deposit was located off the coast of Santa Cruz del Norte, east of Havana, during an exploratory drilling. He said production at the site could begin during 2006.

Cuba currently produces 75,000 barrels daily, about half of what it needs. It imports most of the rest, much of it on favorable terms from political ally Venezuela.

more...

http://www.independent-media.tv/item.cfm?fmedia_id=10197&fcategory_desc=Under%20Reported


Combine that with their recent agreement with Venezuela. I think pretty soon we're going to see Dumbya add China to his Axis of Evil.

[blindpig]

7. good for the Cubans

Gods know some more petrol would certainly make the lives of Cubans less complicated. Hope they don't forget the frugality that they've turned into an artform, it's an inspiration and instructive in the face of Peak Oil. Also hope that the Chinese are more concerned about pollution than they are in their homeland, that worries me.