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February 18, 2019updated 26 Nov 2021 11:36am

Petrobras and PDVSA lead new-build oil and gas Capex spending in South America

Petrobras tops the list with Capex of $49.4 billion expected to be spent on 39 oil and gas projects in the region.

By GlobalData Energy

Petroleo Brasileiro SA (Petrobras), Petroleos de Venezuela SA (PDVSA) and Exxon Mobil Corp are South America’s top three companies in terms of new-build capital expenditure (Capex) for planned and announced projects across the oil and gas value chain in 2018–2025, according to a recent report by GlobalData.

Oil and gas Capex spending

Petrobras tops the list with Capex of $49.4 billion expected to be spent on 39 oil and gas projects in the region. PDVSA and Exxon Mobil Corp follow with Capex of $25.4 billion and $14.0 billion, to be spent on 23 projects and eight projects, respectively, the 39-page analyst report said.

Capex spending by key companies on planned and announced projects across oil and gas value chain

Source: Upstream, midstream, downstream, and petrochemicals analytics, GlobalData Oil and Gas

In the upstream segment, Petrobras leads among companies with Capex of $36.9 billion, followed by Exxon Mobil with $13.1 billion. China National Offshore Oil Corp is in the third position with $6.1 billion during the period 2018–2025.

In the midstream front, PDVSA leads the gas processing segment with new-build Capex of $2.2 billion by 2025, while Petrobras leads with new-build pipeline Capex of $1.4 billion to be spent during the period 2018–2025.

In the LNG liquefaction segment, Yacimientos Petroliferos Fiscales Bolivianos is expected to spend the highest new-build Capex of $700 million. Golar LNG Ltd leads with regasification Capex of $818 million, during the outlook period.

In the gas storage segment, Engie SA tops with Capex of $276 million to be spent during 2018-2025. Peruana de Combustibles SA leads with the highest liquids storage Capex of $40 million.

On the downstream side, PDVSA is expected to lead with new-build Capex of $19.9 billion by 2025. Pertobras and Guangdong Zhenrong Energy Co Ltd follow with Capex of $7.2 billion and $4 billion, respectively.

In the petrochemicals sector, Petrobras leads with new-build Capex of $3.5 billion, expected to be spent during 2018–2025. Yacimientos Petroliferos Fiscales Bolivianos and CF Industries Holdings follow with new-build Capex of $3 billion and $1.7 billion, respectively.

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