Peru Oil and Gas Downstream Market

Peru Oil and Gas Downstream Market Overview:

The Peru oil and gas downstream market size reached USD 4.43 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.39 Billion by 2032, exhibiting a growth rate (CAGR) of 1.70% during 2024-2032. The growing domestic energy demand, government initiatives to modernize refineries, the increasing investment in infrastructure to enhance distribution networks, rapid urbanization, economic growth, and regional export opportunities are some of the major factors propelling the growth of the market.

Peru Oil and Gas Downstream Market Trends:

Growing Domestic Energy Demand

Peru's expanding economy and urbanization are increasing the demand for refined petroleum products, such as gasoline and diesel, which is further driving the growth in the downstream sector to meet these energy needs. For instance, in June 2024, Peru's Ministry of Energy and Mines (Minem) announced its plans to relaunch hydrocarbon exploration in the Candamo Valley (Madre de Dios). The plan was announced by Deputy Minister of Hydrocarbons, Iris Cárdenas, at the launch of the first congress of the Peruvian Institute of Gas, Petroleum, and Energy Engineers (IPIGPE). Cárdenas highlighted that there will be a joint effort with the Peruvian government’s environmental sector to minimize the impact on protected areas, as the gas discovered in Candamo overlaps with the Bahuaja Sonene National Park, which was established after Mobil's discoveries.

Rising Refinery Modernization and Infrastructure Investment

Government initiatives to upgrade refineries and enhance distribution networks are crucial for improving production efficiency and environmental compliance, supporting market growth, and attracting further investment in the downstream sector. For instance, New Refinery Talara (NRT) is an under-construction project that involves modernizing one of the largest refineries in Peru. The project is owned by the state-owned company Petroperu. The modernization of the refinery will enable the refinery to produce diesel and gasoline fuels in compliance with the new Peruvian environmental requirements with a maximum sulphur content of 50 parts per million (ppm) at competitive prices. Similarly, in May 2024, Perupetro granted a license contract for hydrocarbon exploitation in Lot X in Talara, Peru, to a consortium of Aguaytía Energy, Termoselva, and Offshore International Group, which together plan to invest US$800 million to increase oil production during the first 10 years of the license award.

Peru Oil and Gas Downstream Market News:

• In May 2024, PetroTal Corp. announced the execution of a definitive agreement to acquire a 100% working interest in Peru’s Block 131, including the producing Los Angeles field, through the acquisition of CEPSA Peruana, S.A.C. (“CEPSA Peru“), which represents the entire Peruvian business unit of Compania Española de Petroleos S.A.U. (“CEPSA“), for a purchase price of approximately $5.0 million in cash, subject to adjustment as outlined in the Acquisition Agreement (the “Acquisition“).
• In April 2024, MidOcean Energy, an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, announced the completion of its previously announced agreement to acquire SK Earthon’s 20% interest in Peru LNG (PLNG), owner and operator of the first LNG export facility in South America.

Peru Oil and Gas Downstream Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type.

Type Insights:

• Refineries
• Petrochemicals Plants
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes refineries and petrochemicals plants.

Regional Insights: 

• Lima
• North
• South
• Central
• East
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Lima, North, South, Central and East. 

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Peru Oil and Gas Downstream Market Report Coverage:

Key Questions Answered in This Report:

• How has the Peru oil and gas downstream market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Peru oil and gas downstream market?
• What is the breakup of the Peru oil and gas downstream market on the basis of type?
• What are the various stages in the value chain of the Peru oil and gas downstream market? 
• What are the key driving factors and challenges in the Peru oil and gas downstream?
• What is the structure of the Peru oil and gas downstream market and who are the key players?
• What is the degree of competition in the Peru oil and gas downstream market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Peru oil and gas downstream market from 2018-2032
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Peru oil and gas downstream market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Peru oil and gas downstream industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.