Pemex Halted Fuel Exports to Cuba in Second Quarter
The Mexican state oil company reported zero new fuel sales to Cuba between April and June 2026.
Updated on Oct. 6, 2026 in Oil and Gas
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State-owned oil firm Pemex recorded no fuel exports to Cuba during the second quarter of 2026, according to a recent regulatory filing. This cessation follows a period of ongoing shipments that began in July 2023.
Why it matters
Ending these exports mitigates potential trade friction for Mexico regarding the USMCA review and removes a sanctions-adjacent risk for U.S. bondholders. The move aligns with a January 2026 U.S. executive order authorizing tariffs on countries supplying oil to Cuba.
Petroleum exports to Cuba totaled MXN 256.2 million for the first half of 2026, representing 0.1% of Pemex's total export revenue. This entire total matches the figures reported for the first quarter alone.
The players
Pemex
This state-owned Mexican petroleum company operates as the nation's primary oil and gas entity.
Servicios Logísticos Integrales Mumiya
This is a wholly owned subsidiary of Pemex responsible for the logistics and export of fuels.
The details
Pemex manages these transactions through its wholly owned subsidiary, Servicios Logísticos Integrales Mumiya, which sources fuels from other units for delivery. The subsidiary previously operated under the name Gasolinas Bienestar until March 31, 2026.
Timeline
July 2023: Pemex began exporting crude and fuels to Cuba.
January 29, 2026: U.S. executive order authorized tariffs on Cuba's oil suppliers.
March 31, 2026: Subsidiary changed its name from Gasolinas Bienestar.
April to June 2026: Pemex reported no new fuel sales to Cuba.
September 8, 2026: Pemex signed the Form 6-K SEC filing.
Market Landscape
The withdrawal of Pemex from the Cuban market reflects a strategic pivot to reduce exposure to U.S. sanctions and protect trade relations within the United States-Mexico-Canada Agreement framework. This move isolates the firm from potential U.S. tariff actions targeting oil suppliers.
For investors, the end of these sales reduces the risk of secondary sanctions impacting Pemex's international financial operations. Customers and stakeholders should monitor whether this shift leads to a restructuring of logistics services at the subsidiary level.
The takeaway
The move suggests a calculated retreat to prioritize access to larger international markets over small-scale regional exports. Companies in heavily sanctioned sectors must balance geopolitical pressures with existing trade commitments.
Further reading
For more background on industry-wide developments, see our /business/industry/oil-gas/ section.
Source note: This article includes information reported by The Rio Times.
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