Latin America Looking to Grow Crude Oil Refining Capacity

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Researched by Industrial Info Resources (Sugar Land, Texas). Latin America is an important region for crude oil refining representing about 8.5% of the world’s refining capacity. Mexico, Venezuela, Ecuador, and Brazil (in largest to smallest order) are major petroleum exporters to the U.S. Latin America’s 69 refineries have the capacity to refine about 7.5 million barrels per day of crude oil. Key countries in the region include: Brazil with thirteen refineries processing about 1.8 million barrels per day, Mexico with six refineries producing 1.6 million barrels per day, and Venezuela with five refineries producing 1.3 million barrels per day.

Click on the image at right to view a chart showing the top 10 Latin American countries for petroleum refining capacity.

GDP growth for Latin American countries is forecast to increase 3.5% to 8% in 2007, depending on the country. These growing economies will be investing in energy and infrastructure construction projects to help support growing demand for refined products. To meet future demand, new grassroot refinery construction is being evaluated in Brazil, Dominican Republic, Ecuador, Jamaica, Nicaragua, Mexico, Panama and Venezuela.

Industrial Info is tracking 125 major Petroleum Refining Industry capital projects in Central and South America, totaling more than $56 billion scheduled to begin construction in 2007 or beyond. There’s an additional $5.6 billion on the books for refineries in Mexico. In addition to the capital expenditures, there are more than 350 refinery unit turnarounds planned for maintenance repair and overhaul work.

Industrial Info has developed the Latin American Refining Database aimed at quantifying the refining industry and providing coverage for capital and maintenance turnaround project work, along with detailed refinery unit and contact information. For details on the Latin American Refining Database contact Member Services at 1-800-762-3361.

Industrial Info Resources (IIR) provides marketing communication services ranging from industrial database solutions to market forecasting, custom analytics, and specialty promotions that support high-level image campaigns.