SNR oil processing in Mexico
Mexico‘s National Refining System (SNR) oil processing in 2023 averaged 792 Mbd (thousands of barrels per day). This volume represents a year-on-year decline of 2.9%, according to Pemex. Mexico’s SNR is made up of six Pemex refineries: Antonio M. Amor (RIAMA) in Salamanca, Guanajuato. Lázaro Cárdenas in Minatitlán, Veracruz. Héctor R. Lara Sosa in Cadereyta, […]
Pemex: Domestic Content and SMEs
Pemex detailed the results derived from its national content obligations established in its Assignment Titles and Exploration and Extraction Contracts, in accordance with the provisions issued by the Ministry of Economy regarding national content. For 2022, the amount destined to Pemex’s contracts with Small and Medium Enterprises (SMEs) was 25,774 million pesos. The Presidency of […]
Pemex Exploration and Production in 2022 and 2023
Pemex‘s exploration and production segment operates through the state-owned productive subsidiary Pemex Exploración y Producción and explores for and produces crude oil and natural gas. Pemex carries out these activities primarily in the northeast and southeast regions of Mexico and offshore in the Gulf of Mexico. In nominal peso terms, its investments in exploration and […]
Oil refining: the capacity of the United States
The United States has about one-fifth of the world’s oil refining capacity, according to World Trade Organization (WTO) data. There, the industry expanded thanks to the boom in shale oil production when crude oil exports were subject to licensing, and were effectively banned, while refined products could be exported more easily. Crude oil is produced […]
Top 10 products imported by Malaysia
Among the top products imported by Malaysia in 2021 were electronic integrated circuits, in the first position, and petroleum oils (except crude oil), in the second position. All merchandise imports to Malaysia totaled $238.321 billion in 2021, a growth of 26% year-on-year. Treasure Global expects continued strong economic expansion in Malaysia, with the robust population […]
History of Qatar’s oil exports
Qatar has been exporting oil since late 1949, when the first shipment was made from the onshore Dukhan field, which had been discovered in 1939. Then, in the 1960s, large offshore oil (and gas) fields were discovered. Titulares de derechos y de licencias en el sector del petróleo crudo Currently, the Al-Shaheen offshore field is […]
Mexico will have zero oil exports in 2023
Mexico will have zero oil exports by 2023, according to a report released by the Asia Pacific Economic Cooperation (APEC) forum. By way of background, the decline in Mexico’s crude oil production was mainly due to the depletion of the supergiant Cantarell Field, Petróleos Mexicanos‘ (Pemex) largest asset, aggravated by underinvestment in exploration activities. At […]
Pemex directs 33.7% of its sales to the U.S.
Export sales of Pemex to the United States totaled 503.359 billion pesos in 2021, representing 33.7% of its total sales and 69.1% of its export sales that year. Since 2003, Mexico‘s petrochemical exports to the United States have enjoyed a zero tariff rate under the North American Free Trade Agreement (NAFTA) and, subject to limited […]
Grupo Carso makes progress on Dos Bocas-related contracts
Grupo Carso has advanced in several contracts it has related to the Olmeca refinery in Dos Bocas, whose first partial operations began on July 1, 2022. On that date, the Ministry of Energy inaugurated the Olmeca refinery in Dos Bocas, Tabasco (Mexico), for test work, and the site is expected to process 340,000 barrels per […]
Canada’s automotive exports to slow growth
Canada‘s automotive exports will slow their growth in the second half of 2023 and into 2024, Bank of Canada projected. Overall, the bank expects export growth to remain strong through the remainder of 2022, driven by high commodity prices and a pickup in international travel. Further out on the projection horizon to 2024, export growth […]