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This article is part of the World Refining Association Forecast Report 2026: Latin America Series, highlighting key insights from a closed-door Advisory Board discussion held ahead of LARTC 2026.

The discussion brought together senior leaders from organizations including YPF, Ecopetrol, Petrobras, Pemex, ANCAP, ENAP, Pan-American Energy, Raizen, Airbus, Axens, Topsoe, McKinsey, Boston Consulting Group, Arthur D. Little, and Becht, who shared perspectives on the strategic priorities shaping the region’s refining industry.

Each article in this series explores one of the themes that emerged from that conversation.

Latin America’s refining sector is operating in an era defined by volatility and high stakes.

Global energy supply disruptions, fluctuating demand, and regional competitiveness pressures intersect with decarbonization mandates and evolving market structures.

Refiners face the challenge of optimizing margins while ensuring energy security, maintaining operational reliability, modernizing aging assets, and preparing for the long-term energy transition — often under tight capital constraints.

Volatility is seen as part of the business landscape, with the ability to capture short-term opportunities providing a key competitive advantage.

The region’s heterogeneity adds complexity. Regulatory timelines differ significantly between countries, feedstock availability varies, and market structures are uneven.

Political, economic, and environmental considerations all influence investment and operational decisions. Equally important are the skills, experience, and digital literacy of refinery teams, which are critical to the success of any technological or operational strategy.

Process safety and reliability remain non-negotiable foundations for operational excellence.

Sustainable competitiveness in the coming decade depends on technology, capital allocation, robust operational foundations, skilled talent pipelines, and resilient supply chains.

Strategic leadership will also depend on strong governance frameworks and the ability to treat data and digital capabilities as strategic assets, enabling refiners to anticipate market shifts, regulatory developments, and technological change.

Looking Ahead to LARTC 2026

 These insights will also help shape the agenda for the Latin American Refining Technology Conference (LARTC) 2026, where industry leaders will gather in Buenos Aires to discuss the future of refining in the region.

Discussions will focus on operational resilience, decarbonization strategies, regulatory realities, investment priorities, and digital transformation — all critical topics for refiners navigating today’s rapidly evolving energy landscape.

We look forward to welcoming the industry to Buenos Aires and continuing these conversations with refinery leaders from across Latin America and beyond.