Mexico Oil And Gas Profile
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Introduction
- In 2010, Mexico was the seventh-largest oil producer in the world, and the third-largest in the Western Hemisphere. State-owned Petroleos Mexicanos (Pemex) is one of the largest oil companies in the world. However, oil production has decreased in recent years as production at the giant Cantarell field continues to decline.
- The oil sector is a crucial component of Mexico's economy: while its relative importance to the general Mexican economy has declined in the long term, the oil sector still generated 14 percent of the country's export earnings in 2010, according to Mexico's central bank. More importantly, the government relies upon earnings from the oil industry (including taxes and direct payments from Pemex) for 32 percent of total government revenues. Therefore, any decline in oil production has a direct effect upon the country's overall fiscal balance.
- In early 2011, Mexico held licensing rounds for performance-based contracts on oil blocks allowing participation to foreign oil companies for the first time since the nationalization of the oil industry in 1938. The foreign firms will have no ownership rights over any oil they produce, but they are expected to provide Mexican fields with badly needed technological improvements.
History
- 1938 - President Lazaro Cardenas del Rio issued an executive order to expropriate the real estate property and the movable property of 17 foreign oil companies. Petroleos Mexicanos (PEMEX) was created
- 1950 - The refinery "Ing. Antonio M. Amor" is inaugurated, in Salamanca, Guanajuato
- 1952 - Mexican geologist discovered the extension of the "Faja de Oro"
- 1956 - The refinery "Gral. Lazaro Cardenas del Rio" is inaugurated in Minatitlan, Veracruz
- 1972 - The oil region called "Mesozoico" Chiapas-Tabasco is discovered in the southeast of the country
- 1976 - The refinery "Miguel Hidalgo" is inaugurated in Tula, Hidalgo
- 1978 - The "Cantarell" offshore field, in the "Sonda de Campeche", is confirmed to be one of the largest offshore fields in the world. The reserves reached 40.194 billion barrels
- 1979 - The refineries "Hector R. Lara Sosa", in Cadereyta, Nuevo Leon and "Antonio Dovali Jaime", are inaugurated in Salina Cruz, Oaxaca. The drilling of the "Maalob 1" well confirms the discovery of the "Ku-Maalob-Zaap" field, the second most important field in the country after "Cantarell"
- 1987 - The enlargement of the refinery "Miguel Hidalgo" in Tula, Hidalgo begins operations
- 1992 - A new Organic Law of Petroleos Mexicanos and Subsidiary Organisms which defines Petroleos Mexicanos as an entity decentralized of the Federal Government, responsible for running the national oil industry is issued
- 1997 - The "Cantarell" project begins; it was designed to optimize the field exploitation. The Reconfiguration process of the "Cadereyta" and Ciudad Madero refineries began
- 2001 - The "Burgos" project is started up north of the country in order to increase the natural gas production
- 2009: The construction of a new refinery in Tula, Hidalgo begins
Regulation
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Upstream
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Active Companies
Crude Oils
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Midstream
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LNG
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Downstream
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List of Mexican Refineries
- Cadereyta Refinery (Pemex) 292,000 bpd
- Ciudad Madero Refinery (Pemex) 190,000 bpd
- Minatitlan Refinery (Pemex) 265,000 bpd
- Salamanca Refinery (Pemex) 236,000 bpd
- Salina Cruz Refinery (Pemex) 320,000 bp
- Tula Refinery (Pemex) 320,000 bpd
Relevant Links
page revision: 7, last edited: 27 Apr 2012 08:55
