Ann: Block 9 Alameda 2 Appraisal Update, page-791

Yes impressive these Large conventional O&G Discoveries ...low cost production that go for decades ... lower prices for the sour cuban crude oil..but also much lower costs ..

"The economic value of Cuban crude oil in the international market is about 60% of the reference crudes WTI and Brent. It is estimated that the production cost of a barrel of oil from offshore platforms in Cuba is about $20-35, while the production cost of oil produced from inland oil fields is $13-15/bbl."

I see many Major O&G companies selling out of their Oil Shale interests where they need much higher $60bbl+ Wti Oil prices just to breakeven and 40%+ reduction in production within 12-months in many cases ..

https://oilprice.com/Energy/Crude-Oil/US-Shale-Production-Is-Set-For-A-Rapid-Decline.html

interesting how much O&G is shipped to find refineries that can process it !!
>>> https://edconway.substack.com/p/why-does-britain-export-80-of-its?utm_source=substack&utm_medium=email
Those US crudes you tend to find at shale wells are very light and sweet but US refineries tend (again because of historical reasons) to be set up to process the kinds of heavy crudes you find in Mexico and Venezuela.

US crude itself ends up getting shipped off around the world to refineries capable of working with it (including, as it happens, some of the UK refineries).This might all sound quite illogical: why not just process the stuff that comes out of the ground locally? But it turns out a) it’s just the way the oil industry works and b) it’s also the most efficient way of doing things.

In practice, every oil field is a little different and since oil refinery equipment is expensive it makes far more sense to have specific refineries specialising in specific types of oil - rather than having every single refinery equipped to deal with every single variety of oil.