5. Mexico
Production (1,000 b/d): 2,266.8
Proven reserves (millions of barrels): 9,711
Years of production left at current level: 11 years
2015 import of crude oil (1,000 b/d): –
2015 import of petroleum products (1,000 b/d): 712.9
Mexico’s oil production is in decline and the country produced 200,000 barrels per day less in 2015 than it did in 2011. The current level of 2.2 million barrels is a far cry from 2006’s 3.7 million barrels and status of world’s seventh largest oil producer. In order to maintain productivity in one of the largest oil fields in the world, Pemex has been injecting nitrogen into the giant Cantarell Field. This massive operation was consuming half of the world’s nitrogen production at one point. The results were impressive but short-lived. The decline in oil production is causing severe fiscal problems for the Mexican government, which will require some creative thinking to solve.
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