Pemex
| The Torre Ejecutiva Pemex in Miguel Hidalgo, Mexico City |
|---|
| Total equity | −US$105.980 billion (2019) |
| Owner | Mexican Government |
| Number of employees | 124,818 (2018) |
| Website | |
Who is the CEO of Pemex?
Octavio Romero Oropeza (Dec 2018–)
With a growing middle class consumer market for such expensive consumer goods, the industrial base of Mexico expanded to meet the demand. The government fostered the development of consumer goods industries directed toward domestic markets by imposing high protective tariffs and other barriers to imports.
The Calles Law (Spanish: Ley Calles), or Law for Reforming the Penal Code (ley de tolerancia de cultos, "law of tolerance of sects"), was a statute enacted in Mexico in 1926, under the presidency of Plutarco Elías Calles, to enforce the restrictions against the Catholic Church in Article 130 of the Mexican Constitution
Fats. When it comes to using fats in recipes, you won't find butter in classic Mexican cuisine. Today, most cooks will use vegetable oil, but the more traditional fat to cook with is lard. Lard, which is pig fat, gives a wonderful flavor to refried beans and the masa (cornflour dough) used for tamales.
Mexico is one of the largest oil producers in the world (1.9 million barrels produced daily in 2020), and the fourth-largest in the Americas after the United States, Canada, and Brazil.
Mexico's president announced Monday that Royal Dutch Shell has agreed to sell its controlling interest in the Deer Park refinery in Houston, Texas to its partner Mexican state oil company Pemex for $596 million. According to Andres Manuel Lopez Obrador, the deal makes Pemex the sole owner of the refinery.
Saudi Arabia, the largest OPEC exporter, was the source of 7% of U.S. total petroleum imports and 8% of U.S. crude oil imports. Saudi Arabia is also the largest source of U.S. petroleum imports from Persian Gulf countries.
Mexico is the world's second-largest producer of
strontium. Mexico leads the world's production of silver.
Web Resources.
| Mexico Mining Chamber (CAMIMEX) | |
|---|
| National Institute of Statistics and Geography (INEGI) | |
Mexico may have major reserves of petroleum but it lacks the necessary refining capacity to supply the domestic market with all the refined products such as vehicle fuels that its industrial, commercial and residential sectors demand. As a result, Mexico has to import refined petroleum products, mainly from the USA.
Alberta is Canada's largest oil producing province, providing 79.2% of Canadian oil production in 2015. This included light crude oil, heavy crude oil, crude bitumen, synthetic crude oil, and natural-gas condensate.
How does Mexico differ from most other countries that are significant exporters of oil? It has a more diversified economy. A large number of people live along the coasts; large expansions of land have few inhabitants; Mexico's population is still increasing.
Among Mexico's major exports are machinery and transport equipment, steel, electrical equipment, chemicals, food products, and petroleum and petroleum products. About four-fifths of Mexico's petroleum is exported to the United States, which relies heavily on Mexico as one of its principal sources of oil.
Most of Mexico's production decline involves one enormous oil field in the Gulf of Mexico. From 1979 to 2007, Mexico produced most of its oil from the supergiant Cantarell Field, which used to be the second-biggest oil field in the world by production.
From Private to Public to PrivateThe Mexican oil industry has been run by the state-owned company Petróleos Mexicano – known as Pemex – since 1938 – when President Lázaro Cárdenas expropriated foreign companies from the U.S., Britain and the Netherlands through a constitutional amendment (Estevez).
Mexico's oil production has declined since 2004, as has the country's position as a net oil exporter. The Oil & Gas Journal estimates that as of January 2020, Mexico had 5.8 billion barrels of proved crude oil reserves (including lease condensate), placing it among the top 25 reserves holders in the world.
Top ten countries with the largest oil reserves in 2019
- Venezuela – 304 billion barrels.
- Saudi Arabia – 298 billion barrels.
- Canada – 170 billion barrels.
- Iran – 156 billion barrels.
- Iraq – 145 billion barrels.
- Russia – 107 billion barrels.
- Kuwait – 102 billion barrels.
- United Arab Emirates – 98 billion barrels.
As of January 2019, there were 135 operating refineries in the US, distributed among 30 states.
U.S. natural gas exports to Mexico established a new monthly record in June 2021.
Agricultural exports are important, especially coffee, tropical fruits and winter fruits and vegetables. Sixty percent of Mexico's agricultural exports go to the United States.
Production has fallen steadily since 2004, when it had reached a record 3.4 million barrels a day. Mr. Romero blamed the long decline in production on a lack of investment by the government.
Under this definition, total world
oil production in 2020 averaged 76,124,800 barrels per day.
List of countries by oil production.
| Country | Oil production 2020 (bbl/day) | Oil production per capita 2017 (bbl/day/million people) |
|---|
| United States | 11,307,560 | 35,922 |
| Russia | 9,865,495 | 73,292 |
| Saudi Arabia (OPEC) | 9,264,921 | 324,866 |
| Canada | 4,201,101 | 100,931 |
Nonetheless, Pemex is Mexico's largest company and is strategically important to the overall economy for three primary reasons: (1) its monopoly on the distribution of gas, (2) as a source of foreign exchange and (3) its contribution to public finances.
Since Putin assumed the Russian Presidency in January 2000, there has been what amounts to a creeping re-nationalization of the Russian oil industry. Oil industry in Russia is one of the top producers in the world, however, the proven reserves in Russia are not as prevalent as in other areas.
