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February 20, 2019

Volume 2 Issue 46

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Big Oil's Shrinking Share in Andes Region

Except for Venezuela, lubricant demand in South America’s Andes region has been growing in recent years, and the biggest beneficiaries have been local suppliers and second-tier foreign marketers. Big international oil majors have lost significant market share for a variety of reasons, including their own pullbacks and the entry of new suppliers.