Cuba Authorizes Oil Concessions to Attract Foreign Investment Amid Energy Crisis

Cuba has passed legislation authorizing oil concessions, a shift from its previous joint-venture-only model, as part of broader market reforms to address an energy crisis and U.S. pressure. The move aims to boost domestic production by attracting foreign capital, though details on terms and investor interest remain unclear. This marks a notable policy deviation for the communist state, potentially opening its hydrocarbon sector to more flexible investment structures.