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.