Peru Energy Profile 2012

The latest Oil & Gas Report for Peru  forecasts  that the nation will account for 2.52% of Latin American regional oil demand by 2014, while providing 1.34% of supply. Latin American regional oil use will average an estimated 7.76mn barrels per day (b/d) in 2010. It should rise to 7.91mn b/d in 2011 and reach 8.41mn b/d by 2014. Regional oil production in 2010 should average an estimated 10.05mn b/d. It is set to rise to 10.63mn b/d by 2014. Oil exports have been slipping, because demand growth has exceeded the pace of supply expansion. In 2001, the region was exporting an average of 3.37mn b/d. This total falls to an estimated 2.29mn b/d in 2010 and is forecast to slip further to 2.22mn b/d in 2014. The principal exporters will be Mexico, Venezuela, Ecuador and Brazil.

In terms of natural gas, the region in 2010 will consume an estimated 209bn cubic metres (bcm), with demand of 252bcm targeted for 2014. Production of an estimated 221bcm in 2010 should reach 247bcm in 2014, which implies 5bcm of net imports at the end of the period. Peru in 2010 accounts for an estimated 1.73% of regional gas demand, while contributing approximately 1.68% to supply. By 2014, its share of regional demand should be 2.18%, while it will account for 4.66% of supply. (Full text)

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