Released April 26, 2021 | cordoba, argentina
en
Researched by Industrial Info Resources (Sugar Land, Texas)--The Oil & Gas industry in Latin America anticipates capital expenditure approvals of more than $25.6 billion during the second half of this year, far exceeding the investments forecasted for the same period of 2020. Part of this increase in investment follows an expectation of an increase in product demand toward the end of 2021, as well as incentive plans launched by various local governments to encourage recovery of production levels that have been in decline in several countries of the region.
Brazil, Argentina and Mexico lead the way, with about 75% of the proposed spend. About $20 billion is destined for the upstream sector in constructing new production facilities. A significant increase in drilling projects also is expected in the region, a trend that is expected to continue into the first half of 2022. If you subscribe to Industrial Info's Terminals, Production and Pipelines databases, click here to see a list of projects that are expected to be approved in the second half of the year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Brazil, Argentina and Mexico lead the way, with about 75% of the proposed spend. About $20 billion is destined for the upstream sector in constructing new production facilities. A significant increase in drilling projects also is expected in the region, a trend that is expected to continue into the first half of 2022. If you subscribe to Industrial Info's Terminals, Production and Pipelines databases, click here to see a list of projects that are expected to be approved in the second half of the year.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
