Panama — Oil Import Dependency
Detailed breakdown of Panama's crude oil import profile: share originating from the Middle East, top supplier countries, exposure to Strait of Hormuz transit risk and total net import volume. Sourced from the U.S. EIA, IEA and JODI Oil World Database.
Key statistics
- Region: Americas
- Middle East crude oil share: 14%
- Net crude oil imports: 100 thousand barrels/day
- Top supplier: United States (55% of imports)
- Strait of Hormuz exposure: 13% of imports transit Hormuz
- Risk tier: Low
What this means for Panama
A sustained Strait of Hormuz disruption would directly affect roughly 13% of Panama's crude inflows. With 14% of imports sourced from Middle East producers and United States alone supplying 55%, alternative supply requires re-routing through the Cape of Good Hope, the SUMED pipeline or increased reliance on US, Brazilian and West African crudes.
See the full route cost projections and the Hormuz reopening probability model to understand the timeline and cost of alternative supply.
Compare with regional peers (Americas)
| Country | ME share | Net imports | Hormuz exposure |
|---|---|---|---|
| Uruguay | 32% | 40 kbd | 30% |
| Chile | 22% | 220 kbd | 21% |
| Peru | 18% | 130 kbd | 17% |
| Brazil | 12% | 200 kbd | 11% |
| United States | 9% | 6,300 kbd | 8% |
| Argentina | 8% | 60 kbd | 7% |
| Costa Rica | 8% | 50 kbd | 7% |
| Canada | 5% | 480 kbd | 4% |