Presidents Sheinbaum and Da Silva discuss collaboration between Pemex and Petrobras.
During a video call Thursday, presidents Claudia Sheinbaum of Mexico and Lula da Silva of Brazil discussed bilateral trade and cooperation between the oil companies of both countries.
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On Aug. 7, Brazilian company Petrobras and Mexican company Pemex were negotiating a cooperation agreement to work jointly in refining and fuel sales.
Previously, during a ceremony held in Rio de Janeiro on June 23, the two companies signed an agreement to evaluate and develop hydrocarbon exploration and production projects.
“The partnership with Pemex has two components. The first is to jointly explore and produce in Mexican waters of the Gulf of Mexico, both shallow and deep, and the second is to cooperate in refining and market activities,” Petrobras President Magda Chambriard said Aug. 7.
She also said that cooperation in exploration and extraction already has a signed memorandum of understanding that is underway, while the cooperation agreement in refining, processing and sales of derivatives is ready to be signed.
“Brasil y México concentran hoy buena parte de la resistencia latinoamericana frente a la presión de la Casa Blanca.”
Mientras algunos gobiernos de la región se alinean sin resistencia con Washington, Lula y Sheinbaum negocian, enfrentan aranceles y marcan límites. Dos caminos… pic.twitter.com/SlyebTPFsd
— La Base América Latina (@LaBaseAmLat) August 13, 2026
The text reads, “‘Brazil and Mexico are currently at the forefront of Latin American resistance against pressure from the White House.’ While some governments in the region align themselves without resistance with Washington, Lula and Sheinbaum are negotiating, confronting tariffs, and setting limits. Two different paths, but one common thread: sovereignty.”
The June agreement allows Pemex to access Petrobras’ extensive experience in complex offshore operations, while for Petrobras, the agreement represents an opportunity to replenish reserves, diversify its portfolio and establish a position in a relatively unexplored area of the Gulf.
Sheinbaum recognized the results achieved by Lula da Silva at the helm of Brazil, highlighting that the South American country’s economy is maintaining growth of more than 3%, inflation has moderated, unemployment has fallen significantly, and families’ real incomes have recovered.
“Lula has improved the living conditions of millions of Brazilian women and men,” she said, pointing out that Mexico and Brazil share a vision of prosperity, well-being and sovereignty.
“We are convinced that, by working in a coordinated manner, we can further strengthen economic, trade and energy ties. We continue building an increasingly strong bilateral relationship for the benefit of our peoples,” the Mexican president concluded.
Sheinbaum and Lula da Silva have maintained a position of regional coordination and dialogue amid the policies and uncertainty generated by U.S. President Donald Trump.
teleSUR/ JF
Source: EFE
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