Cuba updates its oil and gas law to attract investment

Cuba updated its oil and gas regulations to open participation to investment from domestic and foreign investors, according to the portal Banca y Negocios on Monday, October 13, 2026. The measure seeks to encourage the development of energy reserves amid a deep crisis on the island.

The regulation comprehensively covers everything from exploration to the marketing of hydrocarbons. The arrangements provided for include production-sharing contracts, oil concessions and service contracts, with terms of up to 40 years for production-sharing and up to 30 years for administrative concessions.

The reform comes amid a context of falling production and dependence on fuel imports. Reports published by OnCuba and Infobae América point out that the energy crisis on the island has been worsened by restrictions imposed from abroad and by pressure on the operations of the hydrocarbons sector.

Domestic companies providing goods and services will have the right of first refusal in contracting processes, provided they meet the quality specifications, deadlines and competitive prices established under the new law.