The Mexican state oil company sent crude oil to Cuba in 2023 for 400 million dollars

The Mexican state oil company sent crude oil to Cuba in 2023 for 400 million dollars

HAVANA, May 2 The Mexican state oil company Pemex sent crude oil worth close to 400 million dollars to Cuba in 2023, according to a company document released this Thursday by the media.The company exported 16,800 barrels of crude oil per day (bpd) and 3,300 barrels of petroleum products for a total amount of 6.3 billion pesos (about 400 million US dollars), according to the document accessed by the Mexican newspaper El Universal.

“Since July 2023, Gasolinas Bienestar, S.A. de C.V. (Sociedad Anónima de Capital Variable), our wholly owned subsidiary, acquires crude oil and petroleum products from some of our subsidiaries for export to the Republic of Cuba,” according to The document.

The Mexican Undersecretary of Foreign Trade, Alejandro Encinas, told EFE in November last year that his country does not maintain trade agreements in the energy sector with Cuba, despite oil shipments to the Caribbean island.

Therefore, according to the Mexican official, “there would be no reason why companies like Pemex could be sanctioned by the United States for negotiating with the Caribbean country.”

Cuba consumes about 125,000 barrels of oil per day, 85,000 of which must be imported, according to Cuban researcher at the University of Texas Energy Institute Jorge Piñón.

The Cuban Government stated that part of the problems in electricity generation is explained by the drop in crude oil imports from allied countries such as Venezuela and Russia.

Read also: THE DIRECTOR OF PEMEX DENIES THAT HIS COMPANY WILL DONATE FUEL TO CUBA

Data from the aforementioned institute reflect that Caracas exported to Cuba only an average of 35,000 bpd, below the average of 57,000 in 2023 and an astronomical distance from the 100,000 bpd in 2016.

The lack of exports from Russia throughout last year has also affected, especially after having shipped around one million barrels in 2022.

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