Fuel Oils Export of Mexico: The in-depth Trade Overview of 2024

Fuel oil is a type of liquid petroleum product used for generating heat, power, or energy. It is a globally essential commodity due to its wide demand and transportability worldwide. The capacity of some central regions across the globe to produce more fuel oil, along with others lacking domestic production, has maintained continuity in global trade, despite challenges related to price transparency and economic valuation. Mexico Import Data says, the country in North America bordered by the United States and Guatemala in the north and south direction is right now the topmost contributor towards the worldwide export market of fuel oils due to the ability to produce multiple grades of its type and the efficient refinery operations.

The storage terminals for bulk fuel oils and the export terminals near the major refineries have maintained the continuity of the trade output and have resulted in a total valuation of fuel oil exports worth 1.42 billion US dollars in 2024. The stable political framework and the export licensing and quality control measures have been benefiting the overall revenue rate. Subscribe to Import Globals, the leading Mexico import export trade provider, to stay updated with the latest information regarding the fuel oil export of the nation via the Mexico Trade Data.

GOVERNMENT INITIATIVES SUPPORTING THE FUEL OIL EXPORT OF MEXICO IN 2024

The expansion and strengthening of the national refining system has enhanced the export volume while increasing the domestic output of refined products. The Pemex mixed contract for production and fuel outputs has supported the greater fuel availability for the exports.

The rehabilitation of fuel processing units and procedural handling projects has improved the quality and quantity of exportable fuel oils from Mexico’s refineries. The strategic shift toward domestic refining and fuel production has actively contributed to the strategies put up by the government authorities for proceeding with the positive trajectory of the export of fuel products.

THE LEADING VARIANTS OF FUEL OILS EXPORTED FROM MEXICO IN 2024

Due to the ability to supply different sulphur content grades and global demand for heavy fuel oil in shipments, the country has actively reported a diverse range of its domestic fuel oil types in the global trade output. According to the Mexico Export Data, the topmost variants of fuel oils exported from the nation in 2024 are,

  • Distillate Fuel Oil — The annual valuation of Distillate Fuel Oil exported from Mexico in 2024–869 million US dollars
  • Gasoil — The annual valuation of Gasoil exported from Mexico in 2024–716 million US dollars
  • Ultra-Low Sulphur Diesel (ULSD) — The annual valuation of Ultra-Low Sulphur Diesel (ULSD) exported from Mexico in 2024–624 million US dollars
  • Residual Fuel Oil — The annual valuation of Residual Fuel Oil exported from Mexico in 2024–413 million US dollars
  • High-Sulphur Fuel Oil (HSFO) — The annual valuation of High-Sulphur Fuel Oil (HSFO) exported from Mexico in 2024–398 million US dollars
  • Low-Sulphur Fuel Oil (LSFO) — The annual valuation of Low-Sulphur Fuel Oil (LSFO) exported from Mexico in 2024–276 million US dollars
  • Marine Fuel Oil — The annual valuation of Marine Fuel Oil exported from Mexico in 2024–225 million US dollars
  • Boiler Fuel Oil– The annual valuation of Boiler Fuel Oil exported from Mexico in 2024–165 million US dollars
  • Industrial Fuel Oil Blend– The annual valuation of Industrial Fuel Oil Blend exported from Mexico in 2024–119 million US dollars
  • Diesel Blending Components– The annual valuation of Diesel Blending Components exported from Mexico in 2024–107 million US dollars

TOP TRADE PARTNERS OF MEXICO IN 2024

The stable political framework and the participation of the country in global energy markets have benefited the overall trade revenue while strengthening the bilateral relationships. As per the Mexico Customs Data, the topmost trade partners benefiting the fuel oils export of the nation in 2024 are,

  • United States — The total valuation of fuel oils exported from Mexico to the United States in 2024–925 million US dollars

Top 5 variants of fuel oils exported

· Residual Fuel Oil Blend C

· Marine Fuel Blend with Additives

· Industrial Fuel Oil Blend

· Asphalt-Residual Fuel Blend

· Cold-Flow Improved Diesel

  • Canada — The total valuation of fuel oils exported from Mexico to Canada in 2024–726 million US dollars

Top 5 variants of fuel oils exported

· Marine Distillate Blend

· Cold Climate Marine Fuel

· Warm Climate Marine Fuel

· IMO 2020 Compliant Marine Fuel

· Ultra-Low Sulfur Marine Diesel

  • China — The total valuation of fuel oils exported from Mexico to China in 2024–519 million US dollars

Top 5 variants of fuel oils exported

· Container Ship Diesel

· Coastal Shipping Fuel

· International Bunker Fuel

· Heavy Fuel Oil Blend for Ships

· Marine Residual Fuel

  • Germany — The total valuation of fuel oils exported from Mexico to Germany in 2024–478 million US dollars

Top 5 variants of fuel oils exported

· Marine Fuel Low-Sulfur

· High-Speed Marine Diesel

· Offshore Oil Rig Diesel

· Tugboat Diesel

· Ferry Diesel

  • Taiwan — The total valuation of fuel oils exported from Mexico to Taiwan in 2024–392 million US dollars

Top 5 variants of fuel oils exported

· Power Plant Fuel Oil

· Cement Kiln Fuel Oil

· Heavy Marine Fuel Oil

· Diesel-Fuel Oil Blend

· Residual Blend for Export

  • Brazil — The total valuation of fuel oils exported from Mexico to Brazil in 2024–278 million US dollars

Top 5 variants of fuel oils exported

· Air-Blown Fuel Oil

· Blown Asphalt Residual Fuel

· Industrial Boiler Fuel Oil

· Heavy Furnace Fuel

· Thermal Fuel Oil

  • Japan — The total valuation of fuel oils exported from Mexico to Japan in 2024–265 million US dollars

Top 5 variants of fuel oils exported

· Residual Fuel Oil (RFO)

· Bunker C Fuel Oil

· High-Sulfur Fuel Oil (HSFO)

· Low-Sulfur Fuel Oil (LSFO)

· Very Heavy Fuel Oil (VHFO)

  • South Korea — The total valuation of fuel oils exported from Mexico to South Korea in 2024–254 million US dollars

Top 5 variants of fuel oils exported

· Generator Diesel

· Railroad Diesel

· Marine Diesel (Light)

· Heating Oil №1

· Heating Oil №2

  • United Kingdom — The total valuation of fuel oils exported from Mexico to United Kingdom in 2024–192 million US dollars

Top 5 variants of fuel oils exported

· Summer Diesel

· Off-Road Diesel

· On-Road Diesel

· Agricultural Diesel

· Industrial Diesel

  • Guatemala — The total valuation of fuel oils exported from Mexico to Guatemala in 2024–165 million US dollars

Top 5 variants of fuel oils exported

· Diesel (ASTM D975)

· Ultra-Low Sulfur Diesel (ULSD)

· Low-Sulfur Diesel (LSD)

· High-Sulfur Diesel (HSD)

· Winter Diesel

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