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Mexico's Pemex increased crude shipments to Cuba in 2024, filing shows
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Mexico's Pemex increased crude shipments to Cuba in 2024, filing shows
May 26, 2025 2:14 AM

May 6 (Reuters) - Mexican state oil company Pemex

increased shipments of crude to Cuba by almost 20% last year as

the island's energy crisis worsened, according to a company

filing.

Pemex affiliate Gasolinas de Bienestar exported 20,100

barrels per day of crude and 2,700 bpd of oil products in 2024,

for a sum equivalent to $600 million, according to Pemex's

annual report to the U.S. Securities and Exchange Commission,

published by the company on its website this week.

In 2023, Pemex sent the Caribbean island 16,800 bpd of crude

and 3,300 bpd of oil products for a value of $400 million.

Shipments that year started in July.

Cuba has been struggling with long and frequent power

outages, which it blames on a Cold War-era U.S. trade embargo

and fresh restrictions from U.S. President Donald Trump. In

March, an

outage in the capital

, Havana, and neighboring provinces left over 10 million

people without power for nearly two days.

Pemex is among the world's most indebted oil companies and

its production of crude oil and condensate dropped by 11% in the

last year.

"These sales represented 2.8% of our total crude oil exports

and 0.7% of our total sales of oil product, respectively," Pemex

said in the filing.

In the past, several sources told Reuters that shipments to

Cuba were made as donations. Pemex marked them as sales in the

latest filing, without further details.

The oil producer did not immediately respond to requests for

comment about whether its exports had continued during 2025 or

about volumes.

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