Mexico: oil reserves 1960-2022 | Statista (2024)

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Mexico: oil reserves 1960-2022 | Statista? ›

As of January 2023, Mexico's proved oil reserves were 6.0 billion barrels, including crude oil, lease condensate, natural gas liquids, and oil sands. The Sureste Basin, which is located mostly offshore of Mexico's southeast coast (previously known as the Campeche Basin) accounts for 81% of those reserves.

As of January 2023, Mexico's proved oil reserves were 6.0 billion barrels, including crude oil, lease condensate, natural gas liquids, and oil sands. The Sureste Basin, which is located mostly offshore of Mexico's southeast coast (previously known as the Campeche Basin) accounts for 81% of those reserves.

Does South America Have any Oil Reserves? Venezuela has the largest proven reserves, followed by Brazil, Argentina, Ecuador, Peru, Mexico, and Colombia.

Mexico has the seventeenth largest oil reserves in the world, and it is the fourth largest oil producer in the Western Hemisphere behind the United States, Canada and Venezuela. Mexico is a member of OPEC+ and the North American Free Trade Agreement.

World Oil Reserves

The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).

Oil Reserves in Mexico

Mexico has proven reserves equivalent to 13.0 times its annual consumption. This means that, without Net Exports, there would be about 13 years of oil left (at current consumption levels and excluding unproven reserves).

In 2022, crude oil reserves in Mexico amounted to 5.56 billion barrels, a slight decrease compared to the previous year.

Mexico has extraordinary untapped natural resources: "an estimated 545 trillion cubic feet of technically recoverable shale gas and 13 billion barrels of shale oil," according to an analysis by Nick Cunningham for OilPrice.com.

Crude oil reserves in Venezuela amounted to nearly 304 billion barrels in 2021. In addition to being the undisputed leader in Latin America, the country also boasted the largest crude oil reserves worldwide.

Thanks to the shale oil boom, the US is now sitting on more oil reserves than Russia, which estimates as having 256 billion barrels of untapped oil. The next-richest countries in terms of oil after that are: Saud Arabia (212 billion), Canada (167 billion), Iran (143 billion) and Brazil (120 billion).

Does Mexico give the US oil? ›

The top five source countries of U.S. gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Note: Ranking in the table is based on gross imports by country of origin. Net import volumes in the table may not equal gross imports minus exports because of independent rounding of data.

Carlos Slim Helu is Mexico's wealthiest person, with a net worth of $93 billion. Forbes.

In the 1970s Pemex began the exploitation of huge newly discovered oil reserves in Tabasco and Chiapas states and offshore in the Bay of Campeche of the Gulf of Mexico.

That equates to somewhere in the region of 1.65 trillion barrels of proven oil reserves. Other sources up this estimate a bit, but most agree we have around 50 years left, give or take. For reference, a barrel of crude oil is about 42 gallons or about 159 liters.

It's estimated that known oil-deposits will run out by 2052. Realistically, we may never run out of oil because, given the depth of the Earth's core, there will be new wells to discover.

Conclusion: how long will fossil fuels last? It is predicted that we will run out of fossil fuels in this century. Oil can last up to 50 years, natural gas up to 53 years, and coal up to 114 years. Yet, renewable energy is not popular enough, so emptying our reserves can speed up.

Mexico is the largest producer of silver in the world. The country is also a top 10 world producer of gold, fluorite, bismuth, celestite, sodium sulphate, wollastonite, lead, molybdenum, diatomite, cadmium, graphite, baryte, salt, gypsum, manganese and zinc.

Venezuela is currently the country with the largest proven oil reserves in the world, with an estimated 300 billion barrels of oil.

Pemex's proven hydrocarbon reserves amounted to approximately 7.4 billion barrels of crude oil equivalent as of January 1, 2023.

Mexico's gold holdings stood at 120.03 metric tons in the last quarter of 2021. Compared to the beginning of 2015, the quantity of gold held by the Bank of Mexico, the country's central bank, has decreased. Nevertheless, Mexico has the third largest gold holdings in Latin America.