U.S.-Mexico At A Glance
Energy.
The energy relationship between Mexico and the United States is key for both countries’ economies. Mexico is currently the U.S.’s second-largest oil supplier; it supplied just over 9% of total U.S. hydrocarbon imports in 2009. Mexican hydrocarbon exports currently fund more than 30% of the overall Mexican federal budget. The United States, in turn, increasingly exports refined gasoline and natural gas to Mexico.
Petroleos Mexicanos (Pemex), the state-owned Oil and Gas Company, is by law responsible for all domestic hydrocarbon exploration and drilling.