Guatemala plans to build a hydrocarbon processing plant with a storage capacity of 103,000 gallons of crude oil, diesel, bunker, reprocessing, mineral solvent, and naphtha.
CentralAmericaData's Commercial section provides an updated list of public and private construction projects that have submitted Environmental Impact Assessments (EIA) to the respective institutions in each country.
In the digital era, data is being created at a speed never seen before, and its proper application in business intelligence is already generating incalculable value for businesses
It seems irrational to suggest that a concept like data could be more valuable than an established and indispensable product like oil, but as the years have gone by, this already seems like a reality.
After in May 2020 in the context of the pandemic caused by Covid-19, Central American imports of petroleum oils dropped to a historic low at $242 million, in the following months purchases recovered and in December amounted to $540 million.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
Because the price of fuels in Nicaragua has increased consecutively during the last 18 weeks, companies dedicated to provide cargo services announce that rates could increase between 5% and 10%.
During 2020 the price of hydrocarbons was considerably reduced, but currently in the international market the price of a barrel of oil exceeds $60, which is similar to the amount reported prior to the covid-19 pandemic.
After in May 2020, in the context of the pandemic caused by covid-19, Central American imports of oiling fell to a historic low of $242 million, in the following months an incipient recovery was evidenced.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
From January to June 2020, companies in the region imported $2.82 billion worth of oil, 45% less than in the same period in 2019, a drop reported in the context of the health and economic crisis caused by the covid-19 outbreak.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graph"]
From January to March 2020, companies in the region bought oil abroad for $2.009 billion, 14% less than in the same period in 2019, due to the drop in imports in all Central American markets.
Figures from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In a context of health emergencies and falling oil prices, Nicaraguan businessmen are asking the government to take advantage of market conditions and reduce electricity rates by 15 to 20%.
For the Superior Council of Private Enterprise (Cosep), the advantage of buying and storing oil derivatives for electricity generation as soon as possible should be evaluated, and thus taking advantage of the historical lows in the prices of these products.
In Central America, it is projected that the impact of the Covid-19 crisis on the business of retail sales of gasoline and oil products will be explained mainly by the expected drop in gasoline and diesel sales.
The "Information System for the Impact Analysis of covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the degree of impact that the crisis will have on companies according to their sector or economic activity, during the coming months.
From January to September 2019, companies in the region bought oil abroad for Ch$7,392 million, 3% less than in the same period in 2018, mainly due to the drop in imports from Panama and Nicaragua.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphics"]
During 2019 the consumption of diesel, gasoline and gas, products with the highest participation in the oil bill, reached Ch$2,719 million, a 0.8% lower amount than that reported in 2018.
Figures from the General Direction of Hydrocarbons (DGH) detail that between 2018 and 2019 the Guatemalan oil bill was reduced by $21 million, from $2.719 million to $2.041 million.
From January to November 2019, the country's oil bill reached $1.379 billion, 10% less than the amount reported for the same period in 2018.
In terms of volume, imports of petroleum products increased by 76.8 million kilograms, representing a 3.2% increase, reported the Central Reserve Bank (BCR).
The BCR report states that "... The structure of the oil bill is composed mainly of gasoline (US$426.4 million), diesel (US$387.1 million), liquefied gases and propane (US$207.2 million) and fuel oil (Bunker C) with US$156.1 million. Greases and lubricating oils were imported for US$65.4 million.
Between January and June of this year, the value of imported petroleum oils in the region totaled $5.105 million, and 48% was bought by companies in Guatemala and Panama.
Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
In the first ten months of the year, Salvadoran purchases abroad that make up the oil bill reached $1.252 million, 10% less than the amount reported in the same period of 2018.
The structure of the oil bill is mainly composed of gasoline ($387.3 million), diesel ($349.5 million), liquefied gases and propane ($189.1 million) and fuel oil (Bunker C) with $146.3 million.
Alyonca is investing $16 million in the rehabilitation of wells and is preparing to start oil production in Alta Verapaz, Guatemala.
The oil field from which the company will produce is in the Municipality of Fray Bartolome de las Casas, and the plans of the company are to attend the local industry and, in the future, make a new investment to refine the product that is extracted.