Latin America’s Oil & Gas Market 2018-2019 & 2022 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Latin America Oil and Gas Sector Report 2018/2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides a complete and detailed analysis of the oil and gas sector for Latin America. The researcher presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.
With a share of 19.9% of global proven oil reserves and 4.4% of those of natural gas as of the end of 2017, the Latin America and the Caribbean region is among the prominent players in the hydrocarbon industry. The region is also likely to hold significant potential in non-conventional reserves and offshore areas, which in most of the cases remain under-explored.
In 2017, Latin America and the Caribbean produced an average of 9.4 mmbbl/d of oil, equivalent to 10.2% of global output. The top three countries by crude production, Brazil, Mexico and Venezuela, have an individual average output of above 2 mmbbl/d and dominated 75% of total regional crude production during the period. Overall, 2017 was the third consecutive year when Latin America and the Caribbean reported a reduction in crude production, which fell by 4.7% y/y. Brazil and Trinidad and Tobago were the only countries in the region where production increased compared to 2016, while all the rest pumped lower volumes of crude.
The weakening production had its negative effect on both exports and domestic consumption of oil, which fell by 4.5% y/y and 0.9% y/y, respectively. The region is a major global exporter of crude oil, accounting for 7.8% of total global oil exports in 2017. At the same time, it remains dependent on the imports of derivatives due to insufficient capacity of local refineries and chronic underinvestment in the downstream segment.
What this report allows you to do:
Key Topics Covered
01 REGIONAL OVERVIEW
For more information about this report visit https://www.researchandmarkets.com/r/ie2kwq
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KEYWORD: CENTRAL AMERICA SOUTH AMERICA CARIBBEAN
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
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PUB: 05/24/2019 08:02 AM/DISC: 05/24/2019 08:02 AM