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Energy Sector

Overview

Upstream Oil and Gas

(Figures in USD billion)

Overview

 

2013

2014

2015

2016p

Total Market Size

6.95

7.03

7.12

7.25

Total Local Production

2.10

2.15

2.17

2.18

Total Exports

1.82

1.87

1.89

1.91

Total Imports

6.67

6.75

6.84

6.98

Imports from the U.S.

4.86

4.90

4.94

4.97

P projected data

Source: (Mexican) National Bank for International Trade (Bancomext), Secretariat of Economy, Global Trade Atlas, interviews and information from officials from PEMEX, the Secretariat of Energy (SENER), National Hydrocabons Commission (CNH), and CRE (National Regulatory Commission)

Mexico is one of the 10 largest oil producers in the world (2.2 million barrels per day in 2015), and the third-largest in the Americas after the United States and Canada. Despite declining crude export volumes, the United States imported over 750m/bdp of Mexico’s heavy crude in 2015 and it exported over 200 million barrels a year of refined petroleum products to Mexico (47% of Mexico’s domestic gasoline consumption), and these refined products numbers are growing. Oil is a crucial component of Mexico’s economy and earnings from the oil industry accounted for about 32% of total government revenues in 2015.

Opportunities

The opening of the upstream oil and gas market will provide opportunities for joint ventures and/or partnership between U.S. companies and Pemex. In addition, companies may bid individually on CNH tenders. Current tenders require a Mexican local content requirement of 25 percent starting in 2015, reaching 35 percent by the end of 2025. U.S. suppliers and investors are encouraged to monitor progress and seek out opportunities that may include joint ventures, production sharing contracts, and/or concessions.

Table 2: Geographical Bidding Opportunities

Please visit our Infrastructure Initiative: Projects site

Learn more in our Country Commercial Guide

Contact: Francisco Ceron

francisco.ceron@trade.gov

52-55-5080-2000 ext 5211


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