Pemex Filing Shows Zero Cuba Fuel Sales April to June

ENERGY · MEXICO

Mexico’s state oil company Pemex booked no new fuel sales to Cuba from April to June, its US filing shows. Pemex Cuba exports had already shrunk to a trickle after Donald Trump threatened tariffs on the island’s oil suppliers. For US readers, it suggests Washington’s pressure campaign on Havana is working on Mexico, a top US trading partner.

The figures sit in a Form 6-K that Pemex signed on Tuesday 8 September. Mexican media covered the filing in mid-September, mostly for the subsidiary’s second name change. Mexico City daily El Universal put the missing second-quarter sales in focus on Monday 5 October.

What the Pemex Filing Shows

Pemex sells to Cuba through a wholly owned subsidiary, Servicios Logísticos y Recursos Estratégicos. It was called Gasolinas Bienestar until 31 March, then Servicios Logísticos Integrales Mumiya until 22 May. The company buys crude and fuels from other Pemex units and exports them to Cuba.

For the six months to 30 June, the Pemex filing with the US Securities and Exchange Commission says the unit exported petroleum products worth MXN 256.2 million (about US$15 million). That is the same peso total Pemex reported for January to March alone. In other words, no new sales were booked in the second quarter.

No crude oil appears in either 2026 filing. The first-quarter report listed only fuels, at an average of 900 barrels a day. The sales were 0.1% of Pemex’s export revenue for the half year.

Pemex does not link the drop to Washington. It says the sales are “made under peso-denominated contracts at prevailing market rates” and that it has procedures to keep them “in compliance with applicable law.”

Elsewhere in its filings, the company names the risk directly. Its 2025 annual report cites a Trump executive order of Thursday 29 January 2026. That order authorises extra tariffs on goods from any country that “directly or indirectly sells or otherwise provides oil to Cuba.”

From Lifeline to Trickle

Pemex Cuba exports began in July 2023, according to the company. Its 2025 annual report gives the scale of what followed.

In the second half of 2023, the unit shipped 16,800 barrels a day of crude plus 3,300 of fuels. In 2024 it shipped 20,100 barrels a day of crude and 2,700 of fuels, worth MXN 12.7 billion (about US$0.6 billion) by Pemex’s conversion. In 2025 the figures were 15,000 and 2,200 barrels a day, worth MXN 9.5 billion (about US$0.5 billion).

Then pressure built. In late January, President Claudia Sheinbaum, of the left-wing Morena party and in office since October 2024, defended a pause in shipments. She said the decision was Pemex’s, and that whether Mexico sells or gives oil to Cuba is “una decisión soberana”, a sovereign decision, El País reported.

By the first quarter, crude had vanished from the filings. El Financiero noted at the time that fuel sales continued. Now those fuel sales have stopped too, at least on paper. See also: Pemex Renames Cuba Oil Subsidiary as Trump Pressure Bites.

What It Means for You

For investors: Pemex reports to the SEC because it sells bonds to US investors. A lasting end to Cuba sales would remove a sanctions-adjacent risk from those bonds. The Cuba business was tiny, so the revenue loss is negligible. Background: What Is Pemex? Mexico’s State Oil Giant, Its US$77.5 Billion Debt and Why It Matters.

For US-Mexico relations: the timing matters. Mexico and the US are reviewing their free-trade agreement (USMCA) this year. A lasting end to Cuba sales would remove one irritant for Washington.

For travellers and families with ties to Cuba: the island’s fuel shortage is severe. Cuban Foreign Minister Bruno Rodríguez said residents get only two to three hours of electricity a day, El Universal reported. Less Mexican fuel makes quick relief unlikely. Some US fuel is still reaching Cuba, though; see US Fuel Exports to Cuba Hit a Record in July 2026.

Cuba can still import crude, “but at market prices”, GMEC’s Gonzalo Monroy told El Universal.

What Is Not Known

Pemex has not said whether it has stopped Cuba sales for good. The filing covers only January to June.

It is also unclear whether Mexico supplies Cuba through any other route. Gonzalo Monroy, director of the energy consultancy GMEC, told El Universal that Pemex had stopped reporting shipments. That “does not mean the government has stopped making them,” he said. This has not been independently confirmed.

One detail in the filing does not add up. It repeats the 900 barrels a day figure for the full half year, although the peso total did not grow. Pemex has not explained this.

Ana Lilia Moreno, an analyst at the think tank México Evalúa, cautioned against blaming Pemex for Cuba’s blackouts. Measuring that would need data on cargoes, stocks and plants, she told El Universal.

Has Mexico stopped sending oil to Cuba?

Pemex’s US filing shows no new sales to Cuba from April to June 2026, and no crude at all this year. Pemex has not said whether the pause is permanent.

Why did Pemex Cuba exports fall?

Pemex does not give a reason. The fall followed a US executive order of 29 January 2026 that allows tariffs on countries supplying oil to Cuba.

How much oil did Mexico send Cuba before?

In 2025 Pemex shipped 15,000 barrels a day of crude and 2,200 barrels a day of fuels, worth MXN 9.5 billion (about US$0.5 billion), its annual report says.

Sources: Pemex Form 6-K, six months to 30 June 2026 (SEC); Pemex Form 6-K, first quarter 2026 (SEC); Pemex Form 20-F 2025 (SEC); El Universal via Pulso (5 October 2026); El Informador (5 October 2026); El Financiero (26 June 2026); El País (27 January 2026).

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.

Frequently Asked Questions