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OTHER NEWS

From Times Staff and Wire Reports

Drillers Find Oil Off Cuban Coast: Foreign companies and Cubapetroleo, the state oil agency, said they have discovered crude oil in Cuba’s Bay of Cardenas. The well, first drilled Dec. 18, reached a total depth of 10,670 feet and tested 16-degree API oil at a rate of 3,750 barrels per day, the companies said. The size is under evaluation. Canada Northwest Energy Ltd. has a 60% interest in the well. A discovery of significant size would throw a lifeline to Cuba, which is facing severe economic crisis since the collapse of its old trade and aid partner, the Soviet Union.


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