Overview
- Mexican foreign minister Roberto Velasco confirmed on Thursday that the June memorandum between Pemex and Petrobras has entered its execution phase and that a Pemex delegation is already in Rio de Janeiro to begin follow‑up work.
- The two‑year initial program focuses on technical, technological and regulatory exchanges so Petrobras can share deepwater and pre‑salt experience while Pemex provides Gulf of Mexico access and infrastructure.
- Petrobras president Magda Chambriard took part in binational meetings and said negotiations are under way for a second memorandum to cover refining, fuel marketing, petrochemicals and cooperation on biofuels and transition technologies.
- Mexico and Brazil reactivated the VI Binational Commission to broaden cooperation beyond energy, signing new science and education memoranda that include joint research projects and free Portuguese courses for Mexican public servants.
- If fully implemented the partnership could speed offshore exploration projects, support refinery and petrochemical upgrades, and shape regional energy supply and industrial ties by sharing technology, training and regulatory practices.