ProceduresGovernment

Oil and Gas Extraction

Industry Group (2111)

 2024-Q1: $823B MX, Gross Domestic Product

DENUE November 2023: 113, Economic units

Jan-Mar 2024: US$68.8M, Foreign Direct Investment

In the first quarter of 2024 the gross domestic product was $823B MX, 4.81% less than the previous quarter.

According DENUE 2023, Oil and Gas Extraction registered 113 economic units. The states with the highest number of economic units were Tabasco (30), Veracruz de Ignacio de la Llave (26), and Tamaulipas (15).

According to data from the Economic Census 2019, total gross production was $846B MX. The states with the highest total gross production were Campeche ($522B MX) and Tabasco ($268B MX).

For its part, total income reached $950B MX in 2019, being the states with the highest income Campeche ($587B MX) and Tabasco ($296B MX).

Economic activities are related if they require similar knowledge or inputs. In 2014 in Oil and Gas Extraction the states with the highest affinity were Sonora (0.62), Nuevo León (0.61), Chihuahua (0.61), Ciudad de México (0.6), and Coahuila de Zaragoza (0.58).

Gross Domestic Product

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Gross domestic product 2024-Q1: $823B MX

Gross Domestic Product 2023: $853B MX

* Data displayed corresponds to the sector Mining, Quarrying, and Oil and Gas Extraction since the information at lower levels of disaggregation is not available.

In the first quarter of 2024, Mining, Quarrying, and Oil and Gas Extraction recorded a gross domestic product of $823B MX, evidencing a drop of 4.81% compared to the previous quarter and a drop of 5.52% compared to the same period of the previous year.

* Current values, at current prices, base year 2013. Excludes taxes on products.

Production Indicators by State

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According to data from the Economic Census 2019,  26 economic units were totaled in Oil and Gas Extraction, highlighting Tabasco (9), Campeche (5), and Veracruz de Ignacio de la Llave (5).

Total gross production was $846B MX. The states with the highest total gross production were Campeche ($522B MX) and Tabasco ($268B MX).

Total income reached $950B MX in 2019, being the states with the highest income Campeche ($587B MX) and Tabasco ($296B MX).

* It is recommended to consider the values as approximations of the real value because some records have been anonymized due to confidentiality principles.

Production Indicators by Municipality

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According to dato from Economic Census 2014, Oil and Gas Extraction had a total of 42 economic units and the municipalities with the highest number of economic units were Centro (33) and Reynosa (9)

Total expenditures were $35.7B MX and the municipalities with the highest expenditures were Centro ($27B MX) and Reynosa ($8.69B MX).

On the other hand, in 2014 there were 26532 employees dependent on economic units and the municipalities with the highest number of employees were Centro (18.5k) and Reynosa (8.02k).

* Any inconsistency between the data at the state and municipal level is due to the anonymization methodologies applied to the data, also municipalities not shown in the visualization have been anonymized.

Economic Units

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The visualization shows the number of economic units in Oil and Gas Extraction according to the number of employees.

According to DENUE data published in November 2023, 23 companies with 0 to 10 employees were registered (equal number of companies as the previous period). In the same period, 34 companies with 11 to 50 employees were registered (2 companies more than the previous period).

14 companies with 51 to 100 employees were registered in 2023 (9 companies more than the previous period). Likewise, 42 companies with more than 101 employees were registered (2 companies more than the previous period).

Source National Statistical Directory of Economic Units (DENUE)

Foreign Direct Investment (FDI)

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  • US$68.8M, FDI Jan-Mar 2024
  • US$8.88B, FDI Jan-1999 to Mar-2024

In the period January to March 2024, FDI from Oil and Gas Extraction was US$68.8M, distributed in reinvestment of earnings (US$169M), equity Capital (US$0), and inter-company debts (-US$100M).

Since January 1999 to March 2024, the accumulated amount of FDI in Oil and Gas Extraction was US$8.88B, distributed in equity Capital (US$5.02B), inter-company debts (US$2.06B), and reinvestment of earnings (US$1.79B).

* Confidential data is not shown in the chart (see information icon in the section).

Foreign Direct Investment (FDI) by State

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Period Jan-Mar 2024: US$0

Period Jan-1999 to Mar-2024: US$1.93B, Mexico City is the main receiving state

No FDI is recorded in the period January to March, 2024

Historically (from January 1999 to March2024) the states that have received the highest FDI are Mexico City (US$1.93B), Tamaulipas (US$1.83B), and Tabasco (US$1.67B).

* Information download does not contain confidential data.

Foreign Direct Investment (FDI) Origin

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Periodo Jan-Mar 2024: ---, US$0

Main investing country between Jan-1999 and Mar-2024: United States, US$3.52B

No FDI is recorded in the period January to March of 2024.

Historically (from January 1999 to March de 2024) the countries that contributed the most to FDI were Argentina (Confidential), United States (US$21.6M), and United Kingdom (Confidential).

* Information download does not contain confidential data.

Specialization and Opportunity

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The states with the highest degree of development opportunity in Oil and Gas Extraction according to Relatedness were Sonora (0.62), Nuevo León (0.61), and Chihuahua (0.61). The Relatedness measures the distance between an industry and the current industrial composition in each state. The presented entities register a level of specialization lower than one unit (RCA <1).