PEMEX & Petrobras: Moving toward foreign trade

The Brazilian company Petrobras will send representatives to Mexico to explore new business opportunities, as it is considering a possible partnership with PEMEX. The company has long been seeking projects abroad to replenish its oil reserves, an initiative that could also include agreements with Venezuela.

The company’s CEO, Magda Chambriard, stated that Petrobras considers the Mexican side of the Gulf of Mexico to be underdeveloped, especially in ultra-deep waters—a specialty of the Brazilian oil company.
Chambriard stated that she sees opportunities in the exploration and development of mature oil fields, as well as with PEMEX.

The oil company is stepping up its refining efforts to achieve the country’s self-sufficiency in gasoline and diesel, indicating that new projects could be added to its next five-year business plan, which will be unveiled in late 2026.