AMLO’s Oil Ambition Starts Production Versus Exports Earnings Race — Panjiva


AMLO’s Oil Ambition Starts Production Versus Exports Earnings Race

Energy - Conventional 272 Energy - Crude Oil 194 Mexico 505 U.S. 3297

Mexican President Andres Manuel Lopez Obrador has announced plans to raise the country’s oil production by 45% from current levels by 2025. That’s consistent with earlier plans to also invest in oil refining by Pemex to boost the country’s energy independence. The demands of domestic use can be seen in crude oil export growth of just 6.0% in the 12 months to Oct. 31 vs. five years earlier. Pemex’s main export market is the U.S., which accounted for 57.6% of shipments in the past 12 months but that is also becoming more energy independent. Indeed, U.S. oil exports ...

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