The petroleum industry in Mexico makes Mexico the eleventh largest producer of oil in the world and the thirteenth largest in terms of net exports. 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.[1] Mexico is a member of OPEC+ and the North American Free Trade Agreement.
The petroleum sector is crucial to the Mexican economy; while its oil production has fallen in recent years, oil revenues still generate over 10% of Mexico's export earnings.[2] High taxes on the revenues of Pemex provide about a third of all the tax revenues collected by the Mexican government.[3]
- ^ "Energy: Mexico". World Factbook. CIA. June 20, 2014. Retrieved 2014-11-20.
- ^ Mexico Energy Data, Statistics and Analysis - Oil, Gas, Electricity, Coal Archived 2006-03-09 at the Wayback Machine
- ^ David Alire Garcia, “Mexico to keep pumping Pemex for tax money despite promised reforms” Archived 2015-10-17 at the Wayback Machine, Reuters, 30 Oct. 2013.
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