Analysis

Report Cover for Latin American State Oil Companies and Climate Change

Latin American State Oil Companies and Climate Change: Decarbonization Strategies and Role in the Energy Transition

Latin American national oil companies (NOCs) have made important advances in slashing emissions from their operations through techniques such as reducing flaring, improving energy efficiency, and injecting CO2 for enhanced oil recovery, according to a new report by the Inter-American Dialogue and the Inter-American Development Bank. Yet, progress in producing lower carbon energy sources for consumers has been sluggish, no Latin American NOC has committed to net zero emissions, and for some companies emissions are on the rise, the report finds.

Lisa Viscidi, Sarah Phillips, Paola Carvajal, Carlos Sucre

Reports ˙ ˙ Download Report

A terminal operated by Brazilian state oil company is pictured. // File Photo: Petrobras.

How Are Plunging Oil Prices Changing Petrobras’ Strategies?

What consequences does the global context—with both lower prices and falling demand—have on Petrobras’ long-term strategies and on Brazil’s oil and gas sector in general?

Nathália Weber Neiva Masulino, Vera de Brito de Gyarfas, Cleveland Jones, John Forman

Energy Advisor ˙

Video

Impacts of Politics and Oil Price Collapse on South America’s Smaller and Emerging Producers

Political changes are shaping the outlook in many of South America’s smaller and emerging oil and gas producers, including Guyana, Suriname, Ecuador, Peru and Bolivia. At a webinar co-hosted by the Inter-American Dialogue and the National Capital Area Chapter of the United States Association for Energy Economics (NCAC-USAEE), panelists discussed how political developments and the oil price decline are likely to impact producers in the region.

Sarah Phillips

Event Summaries ˙

Venezuelan President Nicolás Maduro last month created a commission with the aim of revamping the country’s oil industry, which he said was in a state of emergency. // File Photo: Venezuelan Government.

What Does Maduro’s ‘Energy Emergency’ Mean for Venezuela?

How much will the latest sanctions hurt Venezuela’s oil production and exports, and will the move ultimately result in significantly more pressure on Maduro to step down?

Francisco J. Monaldi, Massimiliano Ballotta, Javier Coronado, Arturo H. Banegas Masiá, Richard N. Sawaya

Energy Advisor ˙

PDVSA gas station in Venezuela

Can Venezuela’s Oil Industry Ever Recover?

Once a major OPEC producer, Venezuela has witnessed a spectacular fall in oil production over the last 20 years under Hugo Chávez and Nicolás Maduro. In 2019, U.S. sanctions hastened this decline. Will Venezuela ever reclaim its place as a top oil producer?

Lisa Viscidi, Nate Graham

Articles & Op-Eds ˙ ˙ Houston Chronicle

Venezuelan flag Video

Can Western companies save Venezuela’s oil sector? Do they want to?

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.

Lisa Viscidi, Nate Graham, Brian Scheid, Meghan Gordon

Interviews ˙ ˙ S&P Global Platts

Reviving Venezuela’s Oil Sector: The Role of Western Oil Majors

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.

Lisa Viscidi, Nate Graham

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Secretary Gustavo Lopetegui Explains the Argentine Energy Market’s Competitive Edge

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.

Nate Graham, Bentleigh Asboth

Event Summaries ˙

Mexican state oil company Pemex’s chief executive, Carlos Treviño, confirmed the discovery of seven reservoirs in two wells in Mexico’s southeast basin. // File Photo: Pemex.

Will Pemex’s New Oil Finds Reverse Output Declines?

Will Pemex’s most recent oil discoveries be enough to reverse the country’s output declines?

Doris Rodriguez, Carlos A. Chávez, Steven P. Otillar, Francisco de Rosenzweig, Maria Cortez, Carlos Ochoa

Energy Advisor ˙

Mexico and Brazil’s Crude Politics

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.

Lisa Viscidi

Articles & Op-Eds ˙ ˙ Foreign Policy

Video

Energy Policy in Brazil: What’s Next for Upstream, Refining and LNG?

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.

Nate Graham, Daniela Vayas

Event Summaries ˙

Outlook for Energy in the Western Hemisphere

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.

Sawyer Thomas, Sergio Martinez Cotto

Event Summaries ˙

US-Latin America Energy Investment

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.

Lisa Viscidi, Rebecca O’Connor

Reports ˙