Petróleos Mexicanos, commonly known as Pemex, reported no new fuel sales to Cuba from April through June 2026, according to financial disclosures submitted to the United States Securities and Exchange Commission (SEC). This revelation adds to mounting evidence of a significant reduction in Mexico's energy supplies to the island nation.
This revelation was highlighted by media outlets such as El Informador and The Rio Times, who scrutinized Pemex's semi-annual report filed with the U.S. regulator.
Analyzing the Numbers
The financial data reveals that during the first quarter of 2026, Pemex's subsidiary responsible for operations with Cuba exported an average of 900 barrels of petroleum products daily, valued at 256.2 million Mexican pesos, or approximately 14.2 million U.S. dollars.
In the subsequent six-month report, Pemex recorded the same 256.2 million pesos in sales to Cuba—equivalent to about 14.7 million dollars at the exchange rate used in that report—indicating no additional sales occurred from April to June.
Discrepancies and Speculations
Despite the absence of new sales figures, the semi-annual document still lists an average of 900 barrels of petroleum products daily. Pemex has not clarified this apparent inconsistency, which leads to the conclusion of zero new sales being recorded, but it stops short of confirming that no actual fuel shipments occurred during that period.
Shift in Product Exports
Crude oil has vanished from Pemex's 2026 reports. The first quarter only detailed petroleum product exports, a stark change from the substantial volumes shipped just two years prior.
In 2024, the then-named Gasolinas Bienestar exported an average of 20,100 barrels of crude oil and 2,700 barrels of petroleum products daily to Cuba. By 2025, these numbers had dropped to 15,000 barrels of crude and 2,200 barrels of derivatives daily, resulting in a total average of 17,200 barrels daily and an annual value nearing 500 million dollars.
Impact of U.S. Sanctions
The significant drop in supplies coincided with increased U.S. pressure on Cuba's energy imports. On January 29, President Donald Trump signed Executive Order 14380, introducing a mechanism for additional tariffs on goods from countries supplying oil to Cuba, directly or indirectly.
These additional tariffs ceased on February 20, when Trump ended several tariff actions under the International Emergency Economic Powers Act. Despite this, the national emergency regarding the Cuban regime remained in place, with Washington later imposing new sanctions on entities linked to the island's energy sector.
Corporate Adjustments and Future Prospects
Pemex has not directly attributed its reduced operations with Cuba to U.S. policies. Their reports simply state that sales are conducted through peso-denominated contracts at market prices, with measures to ensure compliance with applicable law.
The subsidiary facilitating these operations underwent two name changes this year: from Gasolinas Bienestar to Servicios Logísticos Integrales Mumiya on March 31, and, as of May 22, it operates as Servicios Logísticos y Recursos Estratégicos.
The Mexican reduction exacerbates Cuba's energy outlook amid the contraction of its traditional supply sources. Mexico's total exports to Cuba plummeted by 97.1% between June 2025 and June 2026, with a particularly sharp decline in petroleum product exports.
Cuban Foreign Minister Bruno Rodríguez recently stated that the island's population receives only two to three hours of electricity per day, blaming U.S. restrictions for the fuel shortages. However, the crisis is also linked to the deterioration of Cuba's electrical infrastructure, lack of maintenance, and reduced energy imports.
Ana Lilia Moreno, an analyst with Mexico Evalúa cited by The Rio Times, cautioned against attributing the extent of the blackouts solely to Pemex's export reductions. She noted that data on shipments, inventories, and the operation of Cuban power plants would be required to determine the actual impact.
It remains unclear whether Pemex's records fully capture all fuel that may have been sent from Mexico to Cuba. Gonzalo Monroy, director of the energy consultancy GMEC, pointed out that Pemex's omission of certain shipments does not necessarily prove that the Mexican government has ceased such operations through other means. Currently, no public data confirms this possibility.
In June, President Claudia Sheinbaum indicated that Mexico was exploring a mechanism for private companies with commercial permits to supply fuel to Cuba, though she clarified that this option had not yet resumed.
Uncertainty over alternative supply routes increased after the U.S. Coast Guard announced the interception of the M/V Grace on October 2. The vessel had been boarded in early September while en route to Cuba, carrying fuel in its ballast tanks and other containers.
No evidence links this cargo to Pemex. Subsequent maritime tracking data suggested that the Grace loaded its fuel in Panama, highlighting the alternative routes being considered as traditional supplies to the island dwindle.
Pemex's documents only cover operations up to June 30, 2026, and therefore do not confirm whether the Mexican oil company maintained zero sales to Cuba in July, August, or later months.
Understanding the Impacts of Mexican Fuel Reductions on Cuba
What led to the decrease in Pemex's fuel exports to Cuba?
The reduction coincided with increased U.S. sanctions on Cuba's energy imports and a shift in Mexico's export strategy. Additionally, financial reports indicate no new sales were recorded from April to June 2026.
How has Cuba been impacted by the decline in Mexican fuel supplies?
Cuba is experiencing severe energy shortages, with the population receiving limited electricity daily. The crisis is exacerbated by aging infrastructure, lack of maintenance, and a reduction in traditional energy imports.
Is there any evidence of alternative fuel supply routes to Cuba?
Yes, the interception of the M/V Grace by the U.S. Coast Guard suggests that alternative routes are being explored. Tracking data indicated that the vessel may have loaded fuel in Panama, although no direct link to Pemex was found.