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In the past two years, the slowdown in the regional economy and in the growth of consumption in the region halted the upward trend in fuel imports that had been seen since the beginning of the last decade. Moreover, in recent months new refinery projects have added about 300,000b/d of capacity. In addition, there are projects under way, or about to get under way, in Colombia, Brazil, Mexico, Ecuador and Peru. However, many refineries in the region suffer from lack of investment in maintenance and modernization, which is drastically reducing their efficiency and refining capacity. This report looks at the state of refineries in Latin America today.
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