Repsol renegotiating its exploration contract

A friend passed along this article (pdf) from Platts news service about an energy bill pending in the Senate that contains a Cuba provision.

What caught my eye was something I hadn’t seen reported before – that Repsol, the leading company in the consortium that drilled for oil in Cuban territorial waters in 2004 and is expected to drill again, is in the midst of negotiations with Cuba. Its exploration contract expired last year and a spokesman says the company is “renegotiating the conditions” with Cuban autorities.