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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 9th-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 9th-largest oil provider to the United States (up from 10th 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 13th place thanks to Kuwait growing much faster. 

 

© Copyright Latin Business Chronicle

 

 

 

 

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