Operations in the region are expensive... Sometimes, companies need to shell out hundreds of millions of dollars on a project. And the time from when they first spend the money until they start making revenues can be as long as 10 years. When we find the right company, though, the rewards can be massive . We’re typically going to need to focus on the biggest businesses when putting our money to work in the Gulf of Mexico, but that makes the opportunities more easily recognizable. 2. Refining Companies and Exporters of Oil and Related Products According to the EIA, the U.S. imported an average of roughly 10.1 million barrels of petroleum per day in 2016. Petroleum includes crude oil, natural gas liquids, refined products like gasoline and diesel fuel, as well as biofuels like ethanol and biodiesel. About 78% of those imports were crude oil to be turned into gasoline, diesel fuel, or other useful products at the country’s refineries. The other products made up the rest. Meanwhile, the U.S. exported an average of about 5 million barrels of petroleum per day. Most of these exports were refined products. Based on gross imports, the top five countries from where we got the most petroleum in 2016 were Canada (38%), Saudi Arabia (11%), Venezuela (8%), Mexico (7%), and Colombia (5%). On the flip side, our petroleum refined-products exports went mostly to Mexico (17%), Canada (17%), the Netherlands (6%), Brazil (5%), and Japan (5%). The available global capacity to refine crude oil into gasoline, diesel fuel, jet and shipping fuel, and other related products was projected to reach 101.8 million barrels per day in August 2016, according to data from Thomson Reuters Eikon. That’s the highest level on record... And it’s up from about 97.3 million barrels per day in March 2016.
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