About Latin Shale in South America

Total production of crude oil was 9.5 million barrels per day in 2010 and will increase in the coming years. Four countries (Venezuela, Mexico, Brazil and Argentina) are accountable for 84% of total regional production. New investments aim to increase refining capacity to 9.56 thousand barrels per day by 2030. In addition, the natural gas industry is rapidly growing and expanding, as Brazil is becoming a powerhouse in production.