Related Articles
Outlook 2017
Forward article link
Share PDF with colleagues

South America - the after-party continent

Oil's price bust forced yet more change in Latin America's energy sector. Venezuela was worst hit

For decades, oil's boom-bust cycles have traced a familiar pattern across Latin America's resource-rich countries. During the good years, cash rolls in, economies thrive and governments squeeze foreign investors. Then comes the bust. Cash vanishes, recession hits and panicked governments discover they need all the investment they can get. 2016 was one of the lean years, to say the least. Oil output across the region plunged as investment dried up. Venezuela, racked by economic crisis and hyperinflation, was hit hardest, with output down by nearly 15% from 2015. Colombia's heavy oilfields saw drilling activity grind to a halt and production fall by more than 10%. Mexico's long-term oil-outpu

Also in this section
Qatar keeps on keeping on
21 March 2018
With the energy sector operating normally, the country is adjusting to life under sanctions
The Gulf stare down continues
21 March 2018
Tension between the nations is high, but war doesn't appear to be on the cards, despite escalating Saudi rhetoric
UK shale sector seeks revival
21 March 2018
Sentiment towards fracking remains lukewarm