Mexican President Claudia Sheinbaum held a video call on Thursday with Brazilian President Luiz Inácio Lula da Silva to discuss collaboration between state oil companies Pemex and Petrobras, as well as joint progress on trade, Sheinbaum wrote in a social media message.
The June 23 agreement signed in Rio de Janeiro authorizes Pemex to leverage Petrobras’ expertise in complex offshore operations, offering the Brazilian corporation the strategic opportunity to replenish reserves, diversify its portfolio, and gain presence in a little-explored sector of the Gulf of Mexico.
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A second agreement between the two oil companies was reported on August 7, covering refining and fuel sales. Petrobras president Magda Chambriard detailed that the alliance comprises two branches: one for joint exploration and production in shallow and deep waters of the Gulf of Mexico, and another aimed at cooperation in refining and the market.
Chambriard indicated that the exploration and extraction cooperation already has a signed memorandum of understanding in progress, while the refining, processing, and derivative sales agreement is ready to be formalized.
En videollamada, tuve una muy buena conversación con el presidente de Brasil, Luiz Inácio Lula da Silva. Hablamos sobre los importantes avances conjuntos en materia de comercio, así como la colaboración entre Pemex y Petrobras.
Reconocemos los resultados alcanzados por el… pic.twitter.com/sMj6QdpaEd
— Claudia Sheinbaum Pardo (@Claudiashein) August 14, 2026
During the exchange, Sheinbaum recognized Lula’s results at Brazil’s helm, noting that “the economy maintains growth of over three percent, inflation that has moderated, more jobs, and a significant reduction in unemployment,” while highlighting social advances that “have improved the living conditions of millions of Brazilians,” the Mexican president said.
Both heads of state have consolidated a joint working line and regional dialogue in the face of the geopolitical and international scenario represented by Donald Trump’s second term in the U.S.
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