(MENAFNEditorial)
Progress on the expansion of the Venezuelan petrochemicals industry has been slow and undermined by the government's policy in upstream sectors that provide feedstock and its general indifference to improving the investment climate .
Venezuela will be unable to move towards self-sufficiency under the current business environment in which the government has assumed a high degree of managerial control and intervention in the economy. There were high hopes that strong projected growth in oil and gas output would support investment in the petrochemicals industry but these have largely been destroyed and expansion programmes are largely limited to fertilisers.
Full Report Details at
- http://www.fastmr.com/prod/944829_venezuela_petrochemicals_report_2015.aspx?afid=101
Polymer shortages in recent years have had a detrimental impact on the Venezuelan market. Beset with operational problems and lacking capacity to satisfy local demand Pequiven has increasingly had to rely on imports to fill the gap causing more exposure to international price shifts. Reliance on imports has also raised the price of resin supplies for transformers undercutting their margins and competitiveness with Venezuelan plastics transformers paying the highest polyethylene prices in the region. In some circumstances this has prompted a switch from low density polyethylene (LDPE) to linear low density polyethylene (LLDPE).
Key Trends And BMI Forecasts
* Growth in petrochemicals going forward will be focused on the fertiliser sector with projects announced that should raise urea production capacity by a third to 6.14mn tonnes per annum (tpa) by 2019.
* Refinery nameplate capacity is forecast to rise from 1.3mn barrels per day (b/d) to 1.5mn b/d as a result of the completion of the Batalla de Santa Inés refinery upgrade in 2016. This value is forecast to increase further when planned upgrades to the Puerto La Cruz/San Roque refinery complex and the El Palito complex are completed by 2017.
* In BMI's Petrochemicals Risk/Reward Index Venezuela ranks eighth out of nine countries in the...
The Venezuela Petrochemicals Report has been researched at source and features Business Monitor International (BMI)'s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services sales market share investments projects partners and expansion strategies.
BMI's Venezuela Petrochemicals Report provides industry professionals and strategists sector analysts trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Venezuelan petrochemicals industry.
Key Benefits
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Venezuelan petrochemicals market.
* Target business opportunities and risks in the Venezuelan petrochemicals sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Venezuela.
* Assess the activities strategy and market position of your competitors partners and clients via our Company Profiles (inc. KPIs and latest activity).
Coverage
BMI Industry View
Summary of BMI's key industry forecasts views and trend analysis covering petrochemicals markets regulatory changes major investments projects and company developments.
Market Overview
Structure size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.
Business Environment Rankings
BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Industry Trends & Developments
Evaluation of company and sector-wide developments including key projects (as well as expansion plans) latest company financial details and proposed international ventures.
BMI Industry Forecasts
Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions plus analysis of key risks to the main forecasts. Indicators include:
Energy: Oil production (`000 b/d) oil consumption (`000 b/d) net oil exports (`000 b/d) gas production (bcm) gas consumption (bcm) net gas exports (bcm) oil refinery capacity (`000 b/d).
Petrochemicals: Ethylene capacity (`000 tpa) ethylene production (`000 tpa) ethylene consumption (`000 tpa) polyethylene capacity (`000 tpa) polypropylene capacity (`000 tpa) polyvinyl chloride capacity (`000 tpa) polyolefins consumption (`000 tpa).
Oil Products Prices: Price forecasts for all major oil-based products (US$/bbl) at major global energy trading hubs.
Economic: Nominal GDP (US$bn) real GDP growth (%) GDP per capita (US$) population (mn) unemployment (%) exchange rate (against US$).
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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