Mexico's Pemex increased crude exports to Cuba in 2024 according to filings

According to a filing by the company, Pemex, the Mexican state oil company, increased crude shipments to Cuba last year by nearly 20% as Cuba's energy crisis worsened.

Gasolinas de Bienestar, a Pemex affiliate, exported 20,100 barrels of crude oil per day and 2,700 bpd in oil products by 2024. This equates to a total of $600 million.

Pemex will send the Caribbean island in 2023 16,800 bpd crude oil and 3,300bpd oil products worth $400 million. The shipments that year began in July.

Cuba has suffered from frequent and long power outages. It blames this on the Cold War U.S. embargo as well as new restrictions imposed by President Donald Trump. In March, the U.S. President Donald Trump imposed new restrictions on Cuba. The country blames this on a Cold War-era trade embargo and recent restrictions from the United States.

Outage in the capital

Over 10 million people were left without electricity for almost two days in Havana and the neighboring provinces.

Pemex, one of the most indebted companies in the world, saw its crude oil and condensate production drop by 11% over the past year.

Pemex stated in its filing that these sales represented 2,8% of crude oil exports, and 0,7% of total oil product sales.

Several sources have told us in the past that donations were sent to Cuba. Pemex has marked these shipments as sales, but without any further information.

The oil company did not respond immediately to inquiries about the volume of its exports or whether it had continued through 2025. (Reporting and translation by Ana Isabel Martinez, edited by Adriana Barera and Ni Williams.

(source: Reuters)