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Page added on June 1, 2014
U.S. Petroleum Product Exports to Mexico Rise while Mexican Crude Exports to the U.S. Fall
The United States imported 850,000 barrels per day (bbl/d) of crude oil from Mexico in 2013, the lowest volume since 1993. In the past decade, U.S. crude oil imports from Mexico fell 47%, primarily as a result of declining production of crude oil in Mexico. Despite the decline, Mexico was the third largest source of crude oil imports to the United States in 2013, behind Canada and Saudi Arabia.
Conversely, U.S. exports of petroleum products to Mexico have increased 152% in the past decade. In 2013, the United States exported 527,000 bbl/d of petroleum products to Mexico, including motor gasoline (46% of the total), distillate fuel oil (22%), and liquefied petroleum gases (10%).
While the United States is a net exporter of petroleum products to Mexico, the United States also imports some petroleum products from Mexico. In 2013, the United States imported 68,000 bbl/d of products, most of which was residual fuel oil (41%), pentanes plus (24%), and naphtha (15%). As with crude oil, U.S. imports of petroleum products from Mexico have declined in recent years.
9 Comments on "U.S. Petroleum Product Exports to Mexico Rise while Mexican Crude Exports to the U.S. Fall"
Davy, Hermann, MO on Sun, 1st Jun 2014 7:02 am
As far as BAU is concerned it is a significant asset and comparative advantage for the US to have its refining complex. The assets are there. These sites are brown fields already I.E. the environmental damage done. We need the economic activity. The position of a refinery leader will ensure a deep pocket for the import of oil to ensure a place at the table in the coming oil supply decent
westexas on Sun, 1st Jun 2014 7:17 am
Mexico’s net exports fell from 1.8 mbpd in 2004 to 0.7 mbpd in 2012 (total petroleum liquids + other liquids, EIA).
At the 2004 to 2012 rate of decline in what I call the ECI Ratio (ratio of production to consumption), Mexico would approach zero net exports around the year 2020.
A 24% decline in production from 2004 to 2012, plus a slight increase in consumption, resulted in a 61% decline in net exports. Yet another example of “Net Export Math.”
Juan Pueblo on Sun, 1st Jun 2014 10:34 am
Mexico will stop being an exporter in the short term future. It may also become a failed state not long after that. Westexas analysis is right on point, as usual.
Juan Pueblo on Sun, 1st Jun 2014 10:36 am
Reminds me of Egypt in some ways.
TIKIMAN on Sun, 1st Jun 2014 11:57 am
Cantarell is going into depletion. It’s production line is literally free falling.
Perk Earl on Sun, 1st Jun 2014 3:58 pm
“A 24% decline in production from 2004 to 2012, plus a slight increase in consumption, resulted in a 61% decline in net exports.” ELM in action!
I wonder at what point do they hoard the remainder for themselves? Although then their economy would probably really tank.
Makati1 on Sun, 1st Jun 2014 10:16 pm
You are talking about your 51st state, or maybe 52nd if Canada comes into the fold first. Either way, they are going to have all the oil in North America eventually. The North American Union has never gone away. It is just being formed under cover.
The security/military agreements with Canada? Border security? The Keystone Pipeline? More connections every day, if you look.
All those unenforced immigration laws on the Mexican border? S.S. for the immigrants? US Citizenship made easy? When will the Amero’s be minted? I bet they already are, just waiting.
bobinget on Mon, 2nd Jun 2014 10:44 am
Mexico’s Pemex Near Deal to Form Energy Fund with Chinese Firms
5/29/2014
URL: http://www.rigzone.com/news/oil_gas/a/133313/Mexicos_Pemex_Near_Deal_to_Form_Energy_Fund_with_Chinese_Firms
Reuters
MEXICO CITY, May 28 (Reuters) – Mexico’s national oil company Pemex said on Wednesday it is in the final stages of negotiating to form an investment fund with two Chinese companies that could eventually finance up to $5 billion in Pemex energy infrastructure projects.
The fund created by Pemex as well as Xinxing Ductile Iron Pipes and SPF Capital Hong Kong Limited will start with $1 billion and expects to finance up to an additional $4 billion in energy projects, Pemex said in a filing with the Mexican stock exchange.
The company did not detail when the fund will launch or any specific energy infrastructure projects it would finance.
A Pemex representative said the negotiations are nearly complete and a deal was close.
Mexico’s Congress passed a sweeping energy reform late last year championed by President Enrique Pena Nieto that promises to lure billions of dollars in new investment into the country’s struggling oil, gas and electricity sectors.
So-called secondary laws needed to implement the reform and spell out key regulatory details are expected to be taken up by lawmakers in a special session next month.
(Reporting by Adriana Barrera; Editing by Lisa Shumaker)
bobinget on Mon, 2nd Jun 2014 10:50 am
Oh, just as we witness lower Venezuelan imports
due to loan service from depleted production, we will
see the same results in Mexico. Imports certainly will not improve in any case.
What’s next, Canada?
“You say that has already happening”?
Oh dear!