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Thursday, February 16, 2012

Analysis

US Oil Imports: Colombia Grows Most

A platform of Colombian state oil company Ecopetrol. (Photo: Ecopetrol)

US oil imports from Mexico, Venezuela and Colombia grow more than average.

BY LBC STAFF

Colombia posted the strongest increase in oil exports to the United States last year among its leading providers, according to a Latin Business Chronicle analysis of data from the U.S. Census Bureau.

Colombian exports to oil to the United States jumped 65.9 percent last year to $14.6 billion. That led Colombia to move from being the 9^th-largest oil provider to the United States to the seventh-largest.

Mexico remains the third-largest oil exporter to the United States (after Canada and Saudi Arabia). Last year, Mexican oil exports to the United States grew 35.4 percent to $39.8 billion.

Venezuela moved up one spot – to fourth from fifth – thanks to seeing its oil sales to the United States grow 36.3 percent to $36.8 billion.

Brazil last year became the 9^th-largest oil provider to the United States (up from 10^th spot in 2010) thanks to a 27.4 percent increase in oil exports to $9.3 billion.

Ecuador saw a 30.4 percent jump in oil exports to the United States to $7.3 billion, but fell to 13^th place thanks to Kuwait growing much faster.

Top Oil Exporters to the US
Billions of US dollars
Rank	Ch	Country	2011	Ch
1		Canada	$68.0	37.7%
2		Saudi Arabia	$45.7	52.3%
3		Mexico	$39.8	35.4%
4	+1	Venezuela	$36.8	36.3%
5	-1	Nigeria	$30.9	12.8%
6		Iraq	$16.9	39.7%
7	+2	Colombia	$14.6	65.9%
8	-1	Angola	$12.9	12.2%
9	+1	Brazil	$9.3	27.4%
10	+1	Russia	$8.0	21.2%
11	+2	Kuwait	$7.6	46.2%
12	-4	Algeria	$7.3	-23.2%
13	-1	Ecuador	$7.3	30.4%
N/A		Total US Imports	$331.7	31.5%

Sources: US Census Bureau, Latin Business Chronicle

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