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Lisa Viscidi and Nate Graham spoke with S&P Global Platts about the findings of a new report which argues that Western oil companies will be needed to revive Venezuela’s oil sector. They discuss the obstacles that could affect whether these firms increase production in the country under a new government, including US sanctions uncertainty, high taxes, and a shortage of workers and working infrastructure.
With Venezuela’s state oil company in disarray, international oil companies will be the key to tapping the country’s oil resources. The Inter-American Dialogue interviewed eight large Western oil companies about the conditions that will determine how rapidly, and to what degree, they start or ramp up operations in Venezuela following a political transition.
Top content from the weekly Energy Advisor publications this year.
Venezuelan opposition leader Juan Guaidó and his allies need continued U.S. support to prevent Citgo’s seizure, said Citgo Chairwoman Luisa Palacios.
Argentina’s economic crisis and the fiscal belt-tightening it demands have led to gradual cuts to wholesale electricity and natural gas subsidies for consumers and a liberalization of energy prices over the course of Mauricio Macri’s administration. This has helped make Argentina more attractive as a destination for energy investment despite its economic tumult, said Argentine Secretary of Energy Gustavo Lopetegui at an event organized by the Inter-American Dialogue on March 14.
Will Pemex’s most recent oil discoveries be enough to reverse the country’s output declines?
Until this year, resource nationalism—when a government asserts its control over a country’s natural resources—seemed to be on the wane in Latin America. But its potential return could set back Latin America’s two largest economies.
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The Brazilian oil & gas industry is going through its “largest transformation ever,” said Décio Oddone, Director-General for the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) at an event organized by the Inter-American Dialogue on June 28th.
Latin America faces many challenges in developing its energy resources and providing clean, affordable and reliable energy. With presidential elections in Brazil, Mexico and Colombia next year, there is considerable uncertainty about future energy policy, as potential candidates in these countries have presented widely varying energy and economic policy platforms.
While the Trump administration’s “America first” policies are aimed primarily at giving higher priority to national security and economic growth for the United States, the White House’s approach will have impacts on energy relations with the rest of the hemisphere that should also be considered.
Brazil is on track to double its oil and gas production following a series of energy policy reforms aimed at increasing investment.
On March 7th, the Inter-American Dialogue and CAF-Development Bank of Latin America organized a roundtable with a diverse group of experts to provide input for a forthcoming report on US investment in Latin American energy.
Conflicts over energy and natural resources are leading to social turmoil and posing serious challenges for investment projects all over Latin America. To better manage such conflicts, Latin American governments must step up their involvement in the consultation process and communicate more effectively with local communities about potential social, environmental and economic impacts, according to a new report by the Inter-American Dialogue.
This report offers an extensive review of the English, Chinese, Spanish, and Portuguese literature on Chinese overseas energy sector engagement, highlighting a sub-set of issues especially relevant to policymakers. These include China’s effect on global commodity markets, the country’s outbound investment policies, and the extent to which China has a centralized strategy for overseas energy resource acquisition. The report concludes with timely suggestions for further research on Chinese energy engagement in the Americas.
While Mexico’s oil and gas reform has stolen the limelight, the electricity reform is more critical to the country’s economic growth.
