Related Articles
In depth
Forward article link
Share PDF with colleagues

Latin America's hobbled oil giants

Plagued by debt, low oil prices and political turmoil, times have been troubled for Latin America's state-run energy firms

The quiet rivalry among Latin America's three largest national oil companies (NOCs) continues to rage, though none has covered themselves in glory lately. Venezuela's PdV is mired in the country's economic and political crisis and has been on the brink of defaulting on its international debt obligations for the past 18 months. Brazil's Petrobras has been at the centre of the largest corruption scheme the nation has ever seen and been forced to dramatically curtail its world-beating growth plans. The closest thing to a bright spot for the region's big three NOCs has been Mexico's Pemex. The nation's energy reforms are opening new avenues for the company to bring in badly needed capital and te

Also in this section
Making a swift transition in the energy sector
18 October 2017
The rapid uptake of renewables, energy storage and electric vehicles is changing demand patterns for consumers, infrastructure needs and risk, says DNV GL Energy CEO Ditlev Engel
Transneft under fire
17 October 2017
The pipeline company's leaders are used to doing things their way, but a new shareholder, who has Kremlin-backing, sees things differently and wants changes
Repsol tuning up
10 October 2017
The Spanish major has tightened its belt, lifted its profitability and positioned itself to capitalise on an evolving market