Cuba promulgates new oil and gas decree aimed at promoting energy independence.

On October 12 local time, Cuba's Ministry of Energy and Mines held a press conference to promulgate Decree No. 135 on oil and natural gas. Several officials from the ministry explained the new decree at the press conference. According to the introduction, the old relevant decrees are no longer applicable, and Cuba formulated the new decree after studying the regulations of multiple countries and incorporating the opinions of 31 consulting institutions. The new decree aims to gradually increase crude oil and natural gas production and reserves, meet the country's fuel and derivative needs as much as possible, provide raw materials and products for the future development of the petrochemical industry, support the recovery of the national power system, and promote energy independence. The new decree emphasizes the state's sovereignty and jurisdiction over energy, while welcoming domestic and foreign investment, allowing diversified cooperation models, and emphasizing industrial safety and environmental protection.