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Mexico Oil and Gas Market Size, Share, Trends, Analysis: By Operations: Upstream, Midstream, Downstream; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Mexico Oil and Gas Market Outlook
The Mexico oil and gas market size reached USD 191.76 billion in 2023. The market is projected to grow at a CAGR of 3.4% between 2024 and 2032, reaching almost USD 250.57 billion by 2032.
Key Takeaways:
- The total capacity of Mexico in oil production stands at 6 billion barrels.
- 70% of Mexican oil fields are located offshore.
- An anticipated increase in private sector investments are expected to leverage 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 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Operations
- Upstream
- Onshore
- Offshore
- Midstream
- Downstream
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
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., and Murphy Oil Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Operations |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Mexico Oil and Gas Market Overview
8.1 Key Industry Highlights
8.2 Mexico Oil and Gas Historical Market (2018-2023)
8.3 Mexico Oil and Gas Market Forecast (2024-2032)
9 Mexico Oil and Gas Market by Operations
9.1 Upstream
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Type
9.1.3.1 Onshore
9.1.3.2 Offshore
9.2 Midstream
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Downstream
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 Mexico Oil and Gas Market by Region
10.1 Baja California
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Northern Mexico
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 The Bajío
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Central Mexico
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Pacific Coast
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Yucatan Peninsula
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Powers
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Shell plc
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Citla Energy
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Pemex
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 ExxonMobil Corporation
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Chevron Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 TotalEnergies SE
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Sicim S.p.A.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Harbour Energy plc
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 BP p.l.c.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Murphy Oil Corporation
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Oil and Gas Market: Key Industry Highlights, 2018 and 2032
2. Mexico Oil and Gas Historical Market: Breakup by Operations (USD Billion), 2018-2023
3. Mexico Oil and Gas Market Forecast: Breakup by Operations (USD Billion), 2024-2032
4. Mexico Oil and Gas Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Mexico Oil and Gas Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. Mexico Oil and Gas Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 191.76 billion in 2023.
The market is projected to grow at a CAGR of 3.4% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 250.57 billion in 2032.
The different segments based on operations considered in the market report are upstream, midstream, and downstream.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Shell plc, Citla Energy, Pemex, ExxonMobil Corporation, Chevron Corporation, TotalEnergies SE, Sicim S.p.A., Harbour Energy plc, BP p.l.c., and Murphy Oil Corporation, among others.
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