Liquid Fuels and Natural Gas in the Americas January 2014 Independent Statistics & Analysis U.S. Department of Energy www.eia.gov Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA’s data, analyses, and forecasts are independent of approval by any other officer or employee of the United States Government. The views in this report therefore should not be construed as representing those of the Department of Energy or other federal agencies. U.S. Energy Information Administration Liquid Fuels and Natural Gas in the Americas i Contents Executive summary ....................................................................................................................................... 1 Introduction .................................................................................................................................................. 3 The Americas in context................................................................................................................................ 4 Liquid fuels .................................................................................................................................................... 6 Proved reserves and recoverable resources ........................................................................................... 6 Crude oil production ................................................................................................................................ 7 Crude oil ............................................................................................................................................ 7 Tight oil .............................................................................................................................................. 7 Crude oil trade ......................................................................................................................................... 9 Crude oil imports and exports ........................................................................................................... 9 China and India crude oil trade with the Americas ......................................................................... 10 Petroleum products and biofuels .......................................................................................................... 12 Petroleum products consumption, including biofuels .................................................................... 12 Production of refined petroleum products ..................................................................................... 12 Refinery capacity ............................................................................................................................. 14 Refined petroleum products trade ........................................................................................................ 16 Petroleum product imports and exports ........................................................................................ 16 Biofuels production ......................................................................................................................... 18 Biofuels consumption ...................................................................................................................... 19 Panama Canal and pipeline ............................................................................................................. 19 Natural gas .................................................................................................................................................. 21 Proved reserves and recoverable resources ......................................................................................... 21 Production ............................................................................................................................................. 22 Dry natural gas ................................................................................................................................ 22 Shale gas .......................................................................................................................................... 22 Natural gas processing .................................................................................................................... 23 Consumption.......................................................................................................................................... 24 Dry natural gas ................................................................................................................................ 24 Natural gas trade ................................................................................................................................... 26 Total natural gas imports ................................................................................................................ 26 LNG imports .................................................................................................................................... 26 Total natural gas exports ................................................................................................................. 27 LNG exports ..................................................................................................................................... 27 Investment .................................................................................................................................................. 28 U.S. Energy Information Administration Liquid Fuels and Natural Gas in the Americas ii Overview of foreign investment in Americas energy production ......................................................... 28 Mexico’s Energy Reform ........................................................................................................................ 29 Brazil’s pre-salt layer .............................................................................................................................. 29 Asia’s natural gas investment in the Americas ...................................................................................... 30 China’s investment in the Americas ...................................................................................................... 31 Loans for resources agreements ..................................................................................................... 31 Upstream investment...................................................................................................................... 31 Downstream investment ................................................................................................................. 33 Laws and regulations governing investment of the major liquid fuels producers ................................ 35 United States ................................................................................................................................... 35 Canada ............................................................................................................................................. 35 Mexico ............................................................................................................................................. 36 Brazil ................................................................................................................................................ 37 Venezuela ........................................................................................................................................ 37 Colombia ......................................................................................................................................... 38 Argentina ......................................................................................................................................... 38 Ecuador ........................................................................................................................................... 39 Laws and regulations governing investment of the major natural gas producers ................................ 40 United States ................................................................................................................................... 40 Canada ............................................................................................................................................. 40 Venezuela ........................................................................................................................................ 40 Mexico ............................................................................................................................................. 40 Argentina ......................................................................................................................................... 41 Trinidad and Tobago ....................................................................................................................... 41 Colombia ......................................................................................................................................... 42 Brazil ................................................................................................................................................ 42 Appendixes .................................................................................................................................................