Brazil plans major refinery expansions
Brazil is the largest producer of liquid fuels in South America. However, the country still lacks the installed refining capacity to meet domestic demand for transportation fuels. For this reason, Brazil has a number of refining projects planned and underway.
Brazil is the largest producer of liquid fuels in South America, and this nation is the ninth-largest energy consumer in the world. The majority of Brazils crude oil reserves are contained in the offshore pre-salt fields of the Campos, Espírito Santo and Santos basins. Located off the countrys southeast coast, the pre-salt fields hold estimated reserves of approximately 100 billion barrels of oil equivalent. These pre-salt oil deposits could possibly transform Brazil into one of the worlds largest oil producers.
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