Mexico Oil and Gas Market Report and Forecast 2025-2034

Mexico Oil and Gas Market Outlook

The Mexico oil and gas market size reached USD 191.76 billion in 2024. The market is projected to grow at a CAGR of 3.4% between 2025 and 2034, reaching almost USD 250.57 billion by 2034.

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.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Market Segmentation

Mexico Oil and Gas Market Report and Forecast 2025-2034 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