Mexico-Brazil oil deal execution confirmed, ministers say

Mexico and Brazil have moved forward with a significant energy cooperation agreement between their state-owned oil companies, Pemex and Petrobras. Mexican Foreign Minister Roberto Velasco Álvarez confirmed that the deal is now in its execution phase, following meetings of the VI Brazil-Mexico Binational Commission.

Petrobras CEO Magda Chambriard was present during the commission's meetings, and a Pemex delegation is already in Rio de Janeiro to oversee the agreement's implementation. Velasco highlighted that energy cooperation has seen sustained growth since August 2025, when Brazilian Vice President Geraldo Alckmin visited Mexico.

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The energy is today the terrain of the greatest reciprocal activity between the two countries and has grown in a sustained manner since the visit of Vice President (Geraldo) Alckmin to Mexico

The agreement leverages Petrobras' expertise in deep-water exploration alongside Pemex's energy potential and infrastructure. It establishes an agenda for technical, technological, and regulatory exchange, with an initial validity of two years. This collaboration aims to enhance the energy sectors of both Latin American nations.

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We have the conviction that the notable experience of Michelle Bachelet with complex political scenarios and her ability to facilitate dialogue contribute greatly to increasing the effectiveness of the UN

Beyond energy, Mexico and Brazil strengthened their institutional ties by signing a memorandum of understanding for joint research projects in science, technology, and innovation. They also formalized an educational agreement to offer free Portuguese classes to Mexican public servants. In a multilateral context, both countries announced their joint support for former Chilean President Michelle Bachelet's bid to become the next United Nations Secretary-General, citing her experience in complex political scenarios and dialogue facilitation.

Both foreign ministers also expressed concern over Cuba's "deep economic and energy crisis" and reiterated their commitment to reinforcing humanitarian aid to the island. Brazilian Foreign Minister Mauro Vieira emphasized the importance of preserving Latin America and the Caribbean as zones of peace, adhering to principles of sovereign equality and non-intervention. Velasco is scheduled to meet with business leaders in São Paulo to further boost bilateral trade and investment.

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importance that Latin America and the Caribbean be preserved as zones of peace based on the principles of sovereign equality and non-intervention in the internal affairs of States