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HPImpact: Downstream activity in Latin America perks up on profits

03.20.2006  | 


WENDY WEIRAUCH, Managing Editor


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Overall, Latin America contains 13% of the world's oil reserves and is now the second largest region of oil production after the Middle East. Latin America supplies about 30% of the oil consumed by the US, the world´s largest oil consumer. The largest and most important oil companies of the region – Pétroleos Mexicanos, PDVSA and Petrobras – recorded a turnover in 2004 of more than $180 billion.

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