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A Brief Overview of the Oil and Gas Exports of Peru in 2024

Peru has recently emerged as a role player in the global oil and gas international trade market, with a steady increase in export value. The collaboration of the oil and gas industry with Petro, Peru, and foreign companies like BP, Shell, Chevron, and Red Sol have been promoting the industry's global reach, countering the trade revenue. The country is trading most of its oil and gas with China, the United States, Brazil, Chile, and Colombia, followed by some other Latin American countries. The overall export of oil and gas is estimated at around 120 million barrels of crude oil and more than 2 billion cubic meters of natural gas in 2024.

The vast reserves of natural resources and the strategic location of the nation in between the western coast of South America promote it as an ideal location for shipping routes connecting major markets. Initiatives implemented by the government like the Panama Canal expansion with Europe ease the export services of oil and gas to foreign investors. The implemented initiatives are designed to streamline the regulatory processes with international standards, creating a favorable business environment, providing incentives for companies to foster their production activities.

A Summary of the Peru's Overall Trade of 2024

The Statistical Analysis of the Oil and Gas Export of Peru for the Past 5 Years

The Leading Oil and Gas Exports of Peru in 2024

The oil and gas export sector of Peru, with liquefied natural gas and crude oil variations, has dominated the competitors in the international trade market. To counter the overall global increasing demands positively, the authorities have introduced diversification in global services. According to the Peru Export Data, the top 10 leading variants of oil and gas exported from the nation in 2024 are,

1. Crude Oil - Export trade value - 2.4 billion US dollars: Annual trade share - 22%

2. Natural Gas - Export trade value - 1.2 billion US dollars: Annual trade share - 18%

3. Petroleum Products - Export trade value - 1 billion US dollars: Annual trade share - 14%

4. LPG - Export trade value - 876 million US dollars: Annual trade share - 11%

5. Petrochemicals - Export trade value - 654 million US dollars: Annual trade share - 9%

6. Bitumen - Export trade value - 478 million US dollars: Annual trade share - 7%

7. Lubricants - Export trade value - 354 million US dollars: Annual trade share - 6%

8. Chemical Gasoline Additives - Export trade value - 256 million US dollars: Annual trade share - 6%

9. Diesel Exhaust Fluid - Export trade value - 224 million US dollars: Annual trade share - 5%

10. Carbon Black - Export trade value - 187 million US dollars: Annual trade share - 3%

The Major Export Trade Partners of Peru for Oil and Gas in 2024

The oil and gas exports of Peru were directed towards diversification in the trade with international partners, reflecting the country's strategic partnership with top investors in the international trade market. According to the Peru Trade Data, the top export trade partners of the nation for oil and gas exports in 2024 are,

1. United States - As listed by the USA Import Data, it accounts for almost two-thirds of Peru's overall exports, holding an annual valuation of 3.2 billion US dollars in 2024. The closer economic ties between the two countries facilitate the regional exchange of oil and gas.

2. China - China, following the United States, has captured the second position in the top export partners of Peru for oil and gas, with an export trade value of 2.5 billion US dollars for Peru's oil and gas exports in 2024. China Import Data represents the changes in the diversification over the trade as per the increase in demand.

3. Brazil - The Brazil Import Data has listed that the export of oil and gas from Peru to the nation in 2024 is around 1.5 billion US dollars in 2024. The well-established trade relationship with Peru has been facilitating the regional exchange of oil and gas as per demanded categories.

4. Chile - The South American Neighbor Nation Chile is in the fourth position of the top export trade partners of Peru for oil and gas in 2024. The Chile Import Data has listed the valuation of exports from Peru to the nation worth 876 million US dollars in 2024.

5. Colombia - Wrapping up the list, Colombia holds the 5th position in the top export trade partners of Peru for oil and gas in 2024. The Colombia Import Data has depicted that the export of oil and gas from Peru to the nation in 2024 is around 586 million US dollars.

The Top 3 Oil & Gas Manufacturing Companies of Peru in 2024

Peru Long been, recognized as the leading exporter of oil and gas in the international trade market, has recorded a hike in its overall exports due to technological evolution and the manufacturing units. According to the Peru Export Data, the top oil and gas manufacturing companies of the nation in 2024 are,

1. Petro Peru - It is one of the oldest and largest state-owned oil and gas companies in Peru, established in 1969. The headquarters of the company is located in Lima, and it operates around six refineries across Peru, while producing a wide range of petroleum products as part of the globally increasing demand, countering the trade rate positively. The annual trade revenue share of the authority in oil and gas exports is around 28% in 2024.

2. Plus Petrol - The authority founded in Argentina, headquartered in Lima since 1928, is still now one of the most crucial factors fostering the overall oil and gas export of Peru in 2024, with operations across four continents. It is mainly popular for natural gas production, but also holds a significant interest in crude oil extraction, fueling up Peru's crude oil export by around 2.5 percent per year. The annual trade revenue share of the authority in the overall export is 18% in 2024.

3. Granay Montero - This Peruvian conglomerate specializing in engineering, construction, infrastructure development, and natural resources exploration has been fueling up the overall export trade rate of Peru for many years. The partnership with other major players such as Petro Peru and Plus Petrol has been fostering the overall export production of this authority. The annual trade revenue share in 2024 is around 14%.

Conclusion

The oil and gas export sector of Peru demonstrates the country's resilience over the energy shifts and domestic challenges. Despite several advancements, the hydrocarbon sector is facing challenges with exports declining by 2%, which is on a recovery rate with the utmost efforts of the manufacturing units via technological evolution in the export sector. Import Globals helps the business holders acknowledge the categorized breakdown of shipments as per the demanded categories, valuations, and quality and quantity of goods. This valuable trade information helps in monitoring the competitors' engagement in specific sectors, countering the strategies that are currently leading in the international trade market.

FAQ'S

Que. What is the export trade value of oil and gas from Peru in 2024?
Ans. The export trade value of oil and gas from Peru in 2024 is 10 billion US dollars.

Que. Who is the top export trade partner of Peru for oil and gas in 2024?
Ans. The United States is the top export trade partner of Peru for oil and gas in 2024.

Que. Name the top oil and gas manufacturing company in Peru in 2024.
Ans. Petro Peru is the top oil and gas manufacturing company in Peru in 2024.

Que. Where can you get a detailed trade analysis of the oil and gas export of Peru in 2024?
Ans. By subscribing to Import Globals; you can get a detailed trade analysis of the oil and gas export of Peru in 2024.

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