Related Articles
Forward article link
Share PDF with colleagues

Latin American investment likely to fall 25% in 2015

Lower oil prices are putting South America's oil industry under pressure, meaning long term production will suffer

The oil boom was good to Latin America. Brazil saw billions of dollars of investment flow into its deep-water oilfields and is on the cusp of becoming a major player in international oil markets. Colombia's economy rode high for nearly a decade thanks in large part to a fast-growing oil industry. Venezuela's socialist government used an influx of petrodollars to fund a revolution at home and bolster its clout throughout the region. But the industry will be tested by the recent oil price decline. Government budgets are under pressure and companies are slashing spending. Investment is likely to fall by at least 25% across region in 2015 putting long-term production growth at risk. Already, E

Also in this section
ExxonMobil drilling heralds oil era in Guyana
15 June 2018
Keen to add to its production base, ExxonMobil hopes to have the oil flowing from offshore Guyana within two years
Sechin's role in Magomedov arrest under scrutiny
15 June 2018
The arrest of another oligarch with links to the energy industry has raised questions over the motive
Yemen war enters dangerous new phase
13 June 2018
The Saudi-led coalition has embarked on a high-risk strategy to force the Houthis to the negotiating table