The Mexico oil and gas market size reached USD 191.76 Billion in 2024. The market is projected to grow at a CAGR of 3.40% between 2025 and 2034, reaching almost USD 267.89 Billion by 2034.
The discovery of new oil fields is prompting increasing private sector investments in Mexico, aiding the market. For example, Olmeca Dos Bocas refinery established in the state of Tabasco became operational in 2022 and contributed towards the domestic production of oil. Private sector investments accounted for 5% of the total oil production in Mexico in 2022. The anticipated increase in the attraction of such oil projects is expected to drive the Mexico oil and gas market expansion in the forecast period.
There is a significant opportunity for Mexico oil and gas market players in the newly developed oil regions. For instance, oil output from Pokche Field recorded an increase of 28,100 barrels per day within two years, pinpointing its significant potential for oil production. Moreover, Pemex expects oil output from Racemosa field to increase significantly over time, because of the tremendous increase in output recorded from the field in 2022, which reached 4,000 barrels per day. This is expected to drive the Mexico oil and gas market development.
In 2022, the country produced 2 million barrels of oil per day, along with 4.68Bf3/d of natural gas, which is expected to remain favourable over the forecast period, thereby driving the market growth.
The discovery of new oil fields is prompting increasing private sector investments in Mexico, aiding the market. For example, Olmeca Dos Bocas refinery established in the state of Tabasco became operational in 2022 and contributed towards the domestic production of oil. Private sector investments accounted for 5% of the total oil production in Mexico in 2022. The anticipated increase in the attraction of such oil projects is expected to drive the Mexico oil and gas market expansion in the forecast period.
There is a significant opportunity for Mexico oil and gas market players in the newly developed oil regions. For instance, oil output from Pokche Field recorded an increase of 28,100 barrels per day within two years, pinpointing its significant potential for oil production. Moreover, Pemex expects oil output from Racemosa field to increase significantly over time, because of the tremendous increase in output recorded from the field in 2022, which reached 4,000 barrels per day. This is expected to drive the Mexico oil and gas market development.
In 2022, the country produced 2 million barrels of oil per day, along with 4.68Bf3/d of natural gas, which is expected to remain favourable over the forecast period, thereby driving the market growth.
Market Segmentation
Mexico Oil and Gas Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Operations:
- Upstream_x000D_ _x000D_ Onshore _x000D_ Offshore _x000D_ _x000D_
- Upstream_x000D_ _x000D_ Onshore _x000D_ Offshore _x000D_ _x000D_
- Midstream
- Downstream
- Midstream
- Downstream
Market Breakup by Region:
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Competitive Landscape
The key players in the Mexico oil and gas market are:
- Shell plc
- Citla Energy
- Pemex
- ExxonMobil Corporation
- Chevron Corporation
- TotalEnergies SE
- Sicim S.p.A.
- Harbour Energy plc
- BP p.l.c.
- Murphy Oil Corporation
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Mexico Oil and Gas Market Overview
6 Mexico Oil and Gas Market by Operations
7 Mexico Oil and Gas Market by Region
8 Market Dynamics
9 Competitive Landscape
Companies Mentioned
- Shell plc
- Citla Energy
- Pemex
- ExxonMobil Corporation
- Chevron Corporation
- TotalEnergies SE
- Sicim S.p.A.
- Harbour Energy plc
- BP p.l.c.
- Murphy Oil Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 133 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 191.76 Billion |
| Forecasted Market Value ( USD | $ 267.89 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Mexico |
| No. of Companies Mentioned | 10 |
