In an effort to boost energy production in Mexico, a major transformation of the oil and gas industry, known as Mexico Energy Reform, is underway. Prior to 2013, Pemex, Mexico’s state-owned energy company, ran the energy show – controlling every piece of Mexico’s oil and gas supply chain. But now, for the first time in nearly 80 years, the Mexico energy market is open to private competition.
Despite having one of the largest, untapped energy reserves in the world, Mexico’s gas and oil production has been on the decline due to minimal investments in new technologies and limited pursuit of offshore drilling opportunities.
Opportunities Abound for U.S. Petroleum Shippers, Brokers and Refiners
Today, Pemex and other Mexican energy businesses are hoping to attract and partner with established, private and foreign oil companies. By leveraging these companies’ technical expertise, engineering capabilities, state-of-the-art equipment and capital investments Mexican energy companies will be better equipped to support energy demand in Mexico across all areas of the oil and gas supply chain:
- Upstream – Exploration (searching underground or underwater for oil and gas reserves and production, including both onshore and offshore drilling)
- Midstream – Transportation of oil and natural gas
- Downstream – Purifying crude oil and refining it into different products
Need help breaking into the Mexico energy market? Read our related article that takes a closer look at shipping by rail, truck or pipeline in Mexico.
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