U S Oil Exporting Nations

Top Exporting Nations (to the U.S.)

Canada is the number 1 supplier of oil to the US - 2.5 million barrels per day - about 20% of US imports come from Canada.
More than Saudi (1.5 mbpd), Mexico (1.4 mbpd), Venezuela (1.2 mbpd), Nigeria (0.8 mbpd).


Oil Sands: Canada’s ‘Dirty’ Oil Might Be More Important Than You Think

  • Plunging oil prices have hit oil sands hardest, because they are among the most expensive projects to develop. By some estimates, It costs more than twice as much to extract oil from the tar-like substance than oil costs today, leading to a spate of delays and cancellations of oil-sands projects.
  • Rather than growing by close to 400,000 barrels per day, due to rapidly expanding oil sands production, total Canadian production is likely to rise by only a third of that by 2010.
  • If oil prices were to stay at current levels, [global] production, instead of plateauing around 88 million barrels per day by 2012 as we had previously forecast, would decline at an accelerating pace between now and 2015. By 2015 production would decline to around 76 million barrels per day, a level roughly 10% lower than last year’s level.
  • Canadian net oil exports only increased by 17% from 2003 to 2007 EIA Canada Energy Profile

Oil's not well in Canada* Canada has no Strategic Petroleum Reserve (SPR). It exports 65 per cent of its oil and 59 per cent of its natural gas to the U.S.

  • In 2007, it imported 50 per cent of its oil refinery needs.
  • Canada's pipelines do not serve about 40 per cent of Canadians — 92 per cent of Quebec's oil is imported, as is 75 per cent of Atlantic Canada's and 36 per cent of Ontario's.
  • Prompted by former Alberta premier Peter Lougheed and the Calgary oil patch, prime minister Brian Mulroney signed the Canada-U.S. Free Trade Agreement (now the North American Free Trade Agreement) in 1989. Its proportionality clause gives the U.S. first access to Canada's oil and gas. Even if Canadians experience shortages, Canada cannot reduce the proportion it exports to the U.S. below a moving three-year average. Canada can cut exports, but it must cut domestic usage proportionately.
  • If Canada were not enmeshed in NAFTA, it would be self-sufficient in oil.
  • Today, Canada has just nine years of proven natural gas reserves and an ever-increasing amount is dedicated to extracting oil from the oilsands.


  • The 2008 Pemex data show a -9.4%/year decline in production from 2007, and I estimate that net oil exports fell at -34%/year (from 1.4 mbpd to about 1.0 mbpd).
  • The annual rate of decline in Cantarell's production, based on Jan/Feb 2008 to Jan/Feb 2009, was -47%/year.
  • The north end of Ghawar (which has by far and away the best reservoir properties in the field) and Peter Wells, at ASPO-USA, opined that North Ghawar would be "Effectively watered out" by the end of 2010.
  • In 2005, North Ghawar and Cantarall were the two largest producing fields in the world.
  • Mexico oil output lowest since November 1995
  • Mexican oil production fell 9.2 percent in January [2009] to its lowest level since November 1995 as output from the aging Cantarell oil field continued to dwindle
  • The giant Cantarell oil field lost its position as Mexico's largest single oil producer in January to the nearby Ku Maloob Zaap heavy oil complex
  • Cantarell pumped 772,000 bpd in January, down from 811,000 bpd in December and down about 38 percent from a year ago.
  • Independent analysts are skeptical that Pemex will be able to replace all of the oil production capacity being lost at Cantarell in the short term.
  • The fall in oil output dragged down oil exports to 1.366 million bpd in January, compared with 1.434 million bpd a year earlier.
  • Mexico: A Collapse Update by Jeff Vail
  • While the fiscal stability of the Mexican state is impacted by continually declining oil production and oil exports that are declining even faster, this impact is mitigated to some extent because PEMEX hedged the majority of its oil production through 2009 at roughly $70/barrel. Depending on the price of oil in 2010, Mexican oil revenues stand to drop off a cliff as PEMEX loses hedge coverage.
  • At a minimum, in order to finance its ongoing viability, the state needs significantly higher oil prices to increase export revenue or a rapid recovery in the US to generate an increase in remittance income.
  • The increasing instability in Mexico will have a significant impact on PEMEX’s ability to maintain the necessary levels of investment to minimize production declines.

Saudi Arabia


  • The 10 year decline in Venezuelan net oil exports from 1997 to 2007 exceeds total 2007 Canadian net oil exports.
  • Venezuela's Chavez turns to confrontation in crisis
    • Chavez has in the last week sent troops to temporarily occupy several rice mills and nationalized another one run by U.S. food giant Cargill after complaining they were not producing enough at government regulated prices.
    • The socialist stalwart appears set to continue increasing state control over the economy in response to tumbling oil revenues
    • "We will likely see more aggressive behavior as we head into mid-year with no bounce in oil prices." - Riordan Roett of the Latin America program at Johns Hopkins School of Advanced International Studies in Washington.
    • Venezuela's heavy dependence on imported food means it could struggle this year to ensure supplies at subsidized prices as currency reserves shrink, possibly sparking shortages of staple foods.
    • Shortages two years ago hurt Chavez's popularity, forcing him to spend more on food imports and set up a state-run food distribution network.
    • Dozens of small oil services firms are teetering on the edge of bankruptcy because state oil company PDVSA — short on cash — has run up at least $8 billion in outstanding bills.
  • Venezuela Oil: Worse Shape
    • The Venezuelan economy may be in far worse shape than officially announced, and in a weaker position to face the present sharp fall in oil export revenue.
    • According to IEA, crude production in Venezuela has declined to 2.36 million barrels per day (MBD) in 2008, down from 3.18 in 1997.


Nigeria's oil production dips further, as militants continue onslaught

  • Productions at Nigeria's oil facilities may have continued to drop drastically, owing to increasing tension in the oil-producing region, Niger Delta.
  • Leaving no respite for smooth operation, the act of militancy in the region has halted several production activities, which had resulted in shut-in of about 25 per cent of the nation's oil production capacity of 2.6 million barrels per day (bpd).
  • The production, which stood at 1.88 million barrels per day as at mid January [2009], may have dipped further with current shut-in from major oil facilities in the Niger Delta. The latest, being the force majeure declared by Shell at its Bonny oil terminal, leaving its productions at 90,000 bpd, from the normal level of 500,000bpd.
  • Before the Shell's pronouncement, shut-ins due to militant attack stood at 40,000bpd.
  • Notwithstanding this drastic drop, the militants recently threatened further showdown on the oil multinationals, if the foreigners were not removed from the region.
  • Minister of Niger Delta, Obong Ufot Ekaette, "We want to embark on projects and programmes that will make the people to feel the impact of the oil production and to change their current negative disposition towards oil operation. We implore you to be part of the effort to make the required difference in the lives of the people of the oil communities."
  • Nigerian militants say destroy Chevron oil wells
    • Nigeria's main militant group said it had destroyed three oil wells belonging to the US firm Chevron as it continues its campaign against foreign oil companies.
    • Nigeria's oil production has been cut by more than a quarter because of the militant campaign over the past three years, allowing Angola to catch up and compete with it for the position of Africa's top oil producer.

The nightmare of Nigeria's oil-rich delta

Nigeria: Shell Suspends Operations

  • The threat by militants to cripple Nigeria's oil export is gradually being actualised as Shell Petroleum Development Company of Nigeria Limited (SPDC) has suspended its entire operations in the Western Niger Delta
  • Owing to the renewed attacks on its facilities and workers especially in the last six months, Shell last week abandoned its re-entry programme and suspended its operations as well as all community development projects in the area.
  • The company hinged its decision to withdraw its staff and contractors from the Western Niger Delta on five major attacks it suffered in the area between January 7 and June 17, 2009.
  • Although Okonedo (Corporate Media Relations Manager and Shell's spokesman, Mr. Tony Okonedo) did not give the production figure, THISDAY gathered that apart from the 115,000 barrels per EA platform, the 450,000 barrels per day capacity Forcados Export Terminal is also affected.

Gas Shortage Threatens 6,000 Megawatts


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