A recent Forbes article lauded Laredo’s distinction as the #1 Trade Port in the United States. Now, a Houston Chronicle article titled “Energy exports help Laredo to become top U.S. trade hub” points to how Arguindegui Oil Companies energy exports play a vital role in #1 port distinction. Since 1942, Arguindegui Oil has been fueling local businesses. Today, they are poised to extend their reach into Mexico on the strength of 75 years of excellence and experience, and the recent reforms in the industry in Mexico.
Mexico reforms open door
As noted in the article, energy exports continue to increase throughout the U.S. as the country becomes the leading exporter of finished products. Mexico has long needed imports to supplement its refining capacity. Laredo’s unique geographical location coupled with Arguindegui’s 75-year history in the fuel distribution industry, make Arguindegui a formidable entry into the finished fuel product distribution network for Mexico. Arguindegui Oil Companies has longed to the south for growth potential. It was the constitutional reforms of 2013, that have opened Mexico’s energy markets to foreign investment and competition. Coincidently, U.S. oil and gas production continues to climb to new record highs. Additionally, Central and South America, as well as the Carribean, have also increased their importation of finished fuel products like diesel, gasoline, and jet fuel. While the latter has yet to see increases at the Laredo port, the U.S. energy exports to Mexico have seen dramatic increases at Laredo.
Consequently, it is no surprise that the Houston Chronicle took note of Arguindegui Oil Companies’ foray into this new found opportunity with Mexico’s reforms opening the door. The leadership at Arguindegui Oil Companies continue to improve the companies holdings, service points, and their presence as an industry leader in the distribution of fuels lubricants and chemicals. Energy exports to Mexico will certainly play a role in their growth as well as the city of Laredo’s Port’s #1 designation.