South America / GoM

Mexico flag
Summary | Profile

Country profile: Mexico

Location: Middle America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the US and bordering the North Pacific Ocean, between Guatemala and the US
Climate: varies from tropical to desert
Terrain: high, rugged mountains; low coastal plains; high plateaus; desert
Size: 1972550 sq. km total (Land area: 1923040 sq. km  Water area: 49510
Population: 109,955,400 (July 2008 est.)
Languages: Spanish, various Mayan, Nahuatl, and other regional indigenous languages
Government: federal republic
Capital city: Mexico
Legal system: mixture of US constitutional theory and civil law system; judicial review of legislative acts; accepts compulsory ICJ jurisdiction with reservations
Currency: Mexican peso (MXN)

Country profile

In 2006, Mexico was the sixth-largest oil producer in the world, and the second largest in the Western Hemisphere (behind the United States). State-owned Petroleos Mexicanos (Pemex) holds a monopoly on oil production in the country and is one of the largest oil companies in the world. However, oil production in the country has begun to decrease, as production at the giant Cantarell field declines. The oil sector is a crucial component of Mexico’s economy: while its relative importance to the general Mexican economy has declined, the oil sector still generates over 10 percent of the country’s export earnings. More importantly, the government relies upon earnings from the oil industry (including taxes and direct payments from Pemex) for one-third of total government revenues.

Therefore, any decline in production at Pemex has a direct effect upon the country’s overall fiscal balance. Mexico’s total energy consumption in 2005 consisted mostly of oil (59 percent), followed by natural gas (27 percent). All other fuel types contribute smaller amounts to Mexico’s overall energy mix. Natural gas is increasingly replacing oil as a feedstock in power generation, due in part to the high level of world oil prices. However, Mexico is a net importer of natural gas, so higher levels of natural gas consumption will depend upon increased domestic production or imports from either the United States or via liquefied natural gas (LNG).

Energy production and consumption

Oil Gas
Production: 3 million bbl/day (2005 est.) 41 billion cu m (2005 est.)
Consumption: 2 million bbl/day (2005 est.) 47 billion cu m (2005 est.)
Exports: 2 million bbl/day (2004 est.) 282 million cu m (2005 est.)
Imports: 308,500 bbl/day (2004 est.) 9 billion cu m (2005 est.)
Reserves: 14 billion bbl (2007 est.) 434 billion cu m (1 January 2006 est.)
Major fields:

Mexico - recent news

08 Oct 20
Mexico: McDermott announces shipment of first MODEC FPSO modules for Eni's Area 1 block offshore Mexico
McDermott International has announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC. The FPSO will be located in the Area 1 block, approx. 10 kms off the coast of Mexico in the shallow waters of the Campeche Bay at a water depth of approx. 32 meters.
03 Sep 20
Brazil: Dolphin Drilling signs USD83 million contract with PEMEX
Global contractor Dolphin Drilling has signed an US$83 million contract with Petroleos Mexicanos (PEMEX). The deal will see the North Sea drilling pioneer’s Blackford Dolphin rig utilised in Mexico for the duration of the work, which is expected to last around 15 months.
23 Aug 20
Mexico: Heerema installs the Pemex Yaxche-C platform offshore Mexico
Heerema has installed Pemex's Yaxche-C jacket and topside in the Bay of Campeche, offshore Mexico, on behalf of client Cotemar S.A de C.V.
10 Jul 20
Mexico: Talos Energy receives official instruction to unitize the Zama field
Talos Energy has received a notice from Mexico's Ministry of Energy instructing the partners of Block 7 and Pemex to unitize the Zama field. Talos is the operator of Block 7 in a partnership with Wintershall Dea and Premier Oil.
09 Jul 20
Mexico: Jaguar selects Emerson to enhance onshore exploration and production program
Emerson has announced that Jaguar Exploracion y Produccion, an independent oil and gas company based in Mexico City, will use its exploration and production software and services to maximize the potential of Jaguar’s onshore assets and projects.

Mexico - more news

Other countries in this region

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 363

Completed Deals

Completed Upstream Deals: 5722

Company Profiles

Current Company Profiles: 2734

Corporate Activity

Current Corporate Activity articles: 3538

Companies Looking

Current number of articles: 442

Company Sales

Current Company Sales articles:1437


Current Geostudies articles: 753

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

SLR Consulting logo
Rose & Assocs 149
Government of South Australia
Union Jack Oil 149
KL Publishing
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675