The government of Mexico sent 19.6 thousand barrels per day of oil to the Cuban regime between January and March 2025.
According to a document accessed by the newspaper El Universal, “during the quarter that ended on March 31, 2025, Gasolinas Bienestar S.A. de C.V. exported 19,600 barrels per day of crude oil and 2,000 barrels per day of petroleum products,”
The shipments are estimated to have a total value of 3.1 billion Mexican pesos (approximately $166,568,270), marking the seventh consecutive quarter in which hydrocarbon shipments have been exported to the island.
This accounts for 3.3% of the total crude oil exports of Petróleos Mexicanos (Pemex), as well as 1.9% of the total shipments of gasoline and other petroleum products.
El Universal explains that Pemex should have acknowledged the shipments before the U.S. Securities and Exchange Commission (SEC).
“The sales of Gasolinas Bienestar S.A. de C.V. are conducted through contracts denominated in pesos at the current market rates. We have procedures in place to ensure that these sales are carried out in compliance with applicable legislation,” is stated in the Pemex document to the SEC, according to El Universal.
Since 2023, shipments are managed through Gasolinas Bienestar S.A. de C.V., a wholly owned subsidiary of Pemex, which acquires crude oil from some of the affiliates of the state-owned company for its export to the regime.
This subsidiary, experts from Mexico explain, prevents shipments from being managed through PMI, the Pemex subsidiary responsible for importing gasoline or exporting crude oil to the United States.
"Thus, the aim is to avoid sanctions, since PMI does conduct transactions in the international payment system and may face issues; for this reason, the Mexican government clarifies that it is through Gasolinas Bienestar S. A. de C. V.," said Gonzalo Monroy, director of the consulting firm GMEC.
For his part, Manuel Valencia, a professor at Tecnológico de Monterrey, believes that “with the hypocritical argument of the self-determination of peoples, Mexico has never condemned the Cuban regime since 1959, nor does it criticize Venezuela, for example; it does not issue judgments, meaning it tolerates and supports it in a now leftist stance.”
Likewise, the coordinator of the Competition and Regulation Program at the organization México Evalúa, Ana Lilia Moreno, believes that the shipments to Cuba have a purpose in terms of political discourse.
“Given that our administration, both past and present, aligns more closely with governments like the Cuban one, ideologically speaking, it becomes important that the transaction reported to the United States breaks the paradigm that the economic blockade, according to politicians, is the reason Cuba lives in scarcity and precariousness,” he said to El Universal.
In 2024, Gasolinas de Bienestar exported to the island 20,100 barrels per day (bpd) of crude oil and 2,700 bpd of petroleum products, operations valued at 600 million dollars, according to reports sent by Pemex to the United States Securities and Exchange Commission (SEC).
In 2023, shipments had begun in July and totaled 16,800 bpd of crude oil and 3,300 bpd of refined products, amounting to 400 million dollars.
Despite being one of the most indebted oil companies in the world, with financial obligations exceeding $101 billion and debts to suppliers close to $20 billion, Pemex claims that sales to Cuba accounted for 2.8% of its total crude oil exports and 0.7% of its derived products.
Frequently Asked Questions about Oil Shipments from Mexico to Cuba
How much oil did Mexico send to Cuba in the first quarter of 2025?
Mexico sent 19.6 thousand daily barrels of oil to the Cuban regime between January and March 2025, according to a document obtained by the newspaper El Universal.
Why does Mexico use Gasolinas Bienestar S.A. de C.V. for oil shipments to Cuba?
Gasolinas Bienestar S.A. de C.V. was created to avoid international sanctions and to manage oil shipments to Cuba without involving PMI, the subsidiary of Pemex that conducts transactions in the international payment system.
What is the financial impact of these oil shipments to Cuba for Pemex?
Despite being one of the most indebted oil companies in the world, Pemex maintains that sales to Cuba accounted for 2.8% of its total crude oil exports. However, these operations have increased Pemex's debt by more than 300 million dollars.
What position has Mexico maintained regarding the Cuban regime?
Mexico has never condemned the Cuban regime and maintains a policy of support, justifying oil transactions as legitimate trade agreements, despite international criticism.
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