LATIN AMERICA

LATIN AMERICA

POPULATION: mm

AREA (on): km²

OIL PEAK: (forecast)

SUPPLY

Latin American oil production was fairly flat from 1998 to 2003 but is now picking up as new output is generated from offshore Brazil and other onshore areas, albeit partly offset by declines elsewhere. However by 2013 these increases will be only be just able to offset depletion of the older areas of Venezuela and Mexico and output is expected to remain flat.

Conversely gas production will continue to grow rapidly from many new areas both onshore and, especially, offshore.

DEMAND

Oil consumption has been growing and will continue to do so after a pause in 2009. Meanwhile exports are expanding and will increase to a peak in around 2013.

Gas consumption will increase rapidly as new sources come onstream. Net export of gas from the continent is just beginning. This gas is primarily destined for the USA as LNG (initially from Trinidad). New piped export routes are also planned into the Caribbean.

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this region can be commissioned,

including all relevant charts. Contact us for price and contents list.