The Spanish oil company Repsol has abandoned exploration projects that it had in Cuba after initial drillings were not fruitful. Cuba is no longer a part of Repsol's business plan. The company enters a new phase after getting over the negative impact of Argentina's decision to expropriate critical YPF oil holdings.
Repsol wants to focus its business within stable markets even if they offer fewer risks. Ceasing oil explorations in Cuba, Repsol gives the US government fewer reasons to object to the company doing business there.
Repsol has cash, and it wants to buy some mid-size oil fields in the United States where opportunities are opening up after several years of slow sales.