September 2015

Regional Report

Central America: A downstream outlook to 2020

Due to the growth in the region’s middle class, Latin America has seen tremendous petroleum products demand growth over the past decade.

Nichols, Lee, Hydrocarbon Processing Staff

Braskem-Idesa’s Etileno XXI complex will begin operations by the end   of 2015. The facility is Mexico’s first major private-sector petrochemical   project in 20 years. Photo courtesy of Braskem Idesa. Due to the growth in the region’s middle class, Latin America has seen tremendous petroleum products demand growth over the past decade. From 2004–2015, regional oil demand has surpassed 7 MMbpd—an increase of over 2 MMbpd in just over 10 years. Multiple forecasts show that the region will see a nominal increase in demand through the rest of the decade. Demand has been shifting to middle and light distillates, as opposed to fuel oil. Unfortunately, the region’s refiner

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