Background on Pemex and Cuba’s Relationship
Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, has been under scrutiny due to its oil sales to Cuba amid potential US tariffs. Pemex’s General Director, Víctor Rodríguez Padilla, clarified that Mexico has only one commercial contract with Cuba since 2023, with no outstanding debts and minimal financial risk.
Details of the Oil Contract
- The contract is formal and ensures timely payments from Cuba.
- In 2025, sales amounted to $496 million, with no overdue invoices.
- The volume supplied to Cuba represents less than 1% of Mexico’s national crude production and only 0.1% of Pemex’s total petroleum product sales.
Pemex’s Export Activities
Pemex maintains export contracts with over 50 countries. However, the company prioritizes the domestic market and national refining, leading to reduced exports and canceled contracts since March.
Claudia Sheinbaum Defends Mexico-Cuba Relationship
Mexico City’s Mayor and President Claudia Sheinbaum addressed concerns about the energy relationship with Cuba, stating there is no opacity and that Mexico has historically maintained commercial and cooperation links with the island.
- Mexico has provided oil and other supplies as humanitarian aid to Cuba.
- Sheinbaum warned that potential US tariffs could cause a humanitarian crisis in Cuba.
US Pressure and Diplomatic Efforts
Facing the threat of tariffs on countries supplying oil to Cuba, Sheinbaum Pardo emphasized exploring diplomatic avenues to prevent negative impacts on Mexico while continuing humanitarian support for Cuba.
Estamos buscando todas las alternativas diplomáticas, porque no queremos afectar a México, pero tampoco dejar de actuar con responsabilidad humanitaria. https://twitter.com/hashtag/PalacioNacional?src=hash&ref_src=twsrc%5Etfw
— Claudia Sheinbaum (@Claudiashein) April 3, 2020
Key Questions and Answers
- What is the nature of Pemex’s contract with Cuba? It is a single, formal commercial contract without outstanding debts since 2023.
- How much does the contract impact Pemex’s production? The volume supplied to Cuba represents less than 1% of Mexico’s national crude production and only 0.1% of Pemex’s total petroleum product sales.
- What are Mexico’s priorities in its energy policy? The priority is the domestic market and national refining, which has led to reduced exports and canceled contracts.
- What is Claudia Sheinbaum’s stance on the Mexico-Cuba relationship? Sheinbaum defends the historical commercial and cooperation links between Mexico and Cuba, emphasizing humanitarian support.
- How is Mexico addressing US tariff threats? Mexico is exploring diplomatic avenues to prevent negative impacts on the country while continuing humanitarian support for Cuba.
