Mexico intends to stop exporting crude oil abroad by 2024. The government plans to leave greater reserves at the end of the mandate (2024) than those that were registered at the time of initiation (2018) and will seek not to overexploit oil resources. Consequently, it proposes to produce only what is needed for domestic consumption, to process its entire production in the country - thus stopping exporting crude oil - and to reach self-sufficiency in petroleum products.
In 2019, Mexico extracted 1.8 mb/d of crude oil, and over 2/3 of the production was exported. The country consumed 1.8 mb/d of petroleum products in 2019, with imports accounting for over 60% of domestic demand. Mexico produced 840,000 bbl/d of petroleum products.
In June 2020, the government reaffirmed Mexico's goal of being self-sufficient in gasoline by 2023 and no longer selling crude oil. A new refinery (Dos Bocas), with a capacity of 340,000 bbl/d (including 170,000 bbl/d of gasoline and 120,000 bbl/d of diesel), is planned in the state of Tabasco. The project is expected to be commissioned in 2022.
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