Energy and Electricity Report Mexico 2nd Quarter
The Economist Intelligence Unit, June 2012, Pages: 15
Oil still accounts for around 30% of fiscal revenue and 16% of total Mexican export revenue, providing disproportionately strong support to the country's fiscal account and merchandise trade balance.
Petróleos Mexicanos (Pemex, the state-owned oil and gas company) is the world's third-largest crude oil producer. Its crude reserves and refinery capacity are ranked 12th and 13th globally. It has held a monopoly over the exploration, production, refining and marketing of oil and gas and related products since 1938. Although gas distribution was opened up to foreign investors in 1995, Pemex retains sole production rights.
After peaking in 2004 at 3.4m barrels/day (b/d), production has dipped to just 2.96m b/d in 2011 and 2.5m b/d in April 2012, according to official data. The Economist Intelligence Unit forecasts this trend to continue, with production of 2.5m b/d in 2016 and 2.3m b/d in 2020, as output from the Cantarell and Ku Maloob Zaap (KMZ) fields, respectively, will continue and begin to decline.
Industry List: Alternatives, Energy, Coal, Energy, Electricity, Energy, Energy, Energy, Nuclear, Energy, Oil and gas
Industry Codes (NAIC): 22
Industry Codes (SIC): 49
Energy and Electricity Report Mexico 2nd Quarter
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