Sheinbaum and Lula Agree to Meet, Discuss Reviving Pemex-Petrobras Projects

Sheinbaum and Lula agreed to meet «soon» following a phone call on Monday, October 26, 2026, one day after the Brazilian president won reelection in a runoff. Mexican President Claudia Sheinbaum also announced plans to revive joint projects between state-owned oil companies Pemex and Petrobras, according to EFE.

• Lula secured 51.79% of the vote, compared with 48.21% for Flávio Bolsonaro, according to Brazil’s Superior Electoral Court.
• Sheinbaum and Lula agreed to meet, although no date or location has been announced.
• The Mexican president expressed her intention to resume cooperation between Pemex and Petrobras.

Why it matters: Mexico and Brazil are Latin America’s two largest economies, and closer ties between their governments could lead to increased trade, business opportunities, and energy cooperation. According to El País, Lula’s reelection means that both major regional economies will remain under left-leaning governments at a time when Mexico faces pressure from the White House. This gives the bilateral relationship political significance beyond its economic implications.

What Sheinbaum and Lula Said

Sheinbaum announced their conversation on X: «We spoke today with President Lula. Much joy for his victory. We agreed to meet soon.» The previous day, after learning the election results, she had written, «Long live democracy, the people of Brazil have won,» according to Aristegui Noticias.

Lula responded on social media: «Thank you very much, dear President Claudia Sheinbaum. It was a pleasure to receive your phone call today. This is not just a victory for the Brazilian people, but for all Latin American democracies. We will continue together to defend our sovereignty and strengthen the bonds of friendship and cooperation between Brazil and Mexico!»

During her Monday morning press conference, Sheinbaum described Lula’s reelection as «a breath of fresh air for Latin America and the Caribbean.» Before the election, the Mexican president had called for respect for the Brazilian people’s decision and urged that the electoral process take place without «foreign interference,» according to EFE.

Pemex and Petrobras Cooperation Back on the Table

According to EFE and El País, Sheinbaum said during her morning press conference that she intended to discuss «reviving» joint projects between Mexican state-owned oil company Pemex and Brazil’s Petrobras. The reports consulted did not specify which projects would be resumed or their current status, meaning the announcement remains an expression of the president’s intentions.

The renewed cooperation would build on existing diplomatic efforts. According to EFE, both governments had left open the possibility of a visit by Sheinbaum to Brazil since March 2026, aiming to strengthen economic ties and promote business contacts between the two countries.

What’s Next for Sheinbaum and Lula?

No date has been announced for the meeting between the two leaders. Asked about a possible trip to Brazil, Sheinbaum said, according to El País, «We’ll see when the best moment is.»

It remains unclear when the planned meeting will take place, what its agenda will include, and whether renewed Pemex-Petrobras cooperation will lead to concrete agreements. For additional context on Brazil’s presidential election, read our coverage of Lula’s reelection and Trump’s silence.

Sources: EFE, via Aristegui Noticias; EFE, via LatinUS; El País; La Razón de México. Data consulted on October 27, 2026.

Main photo: EFE/José Méndez