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
US and Russia duel over production dominance
22 June 2018
Fuelled by shale gains, US output has risen rapidly, now outstripping Russia’s production; but Moscow won’t accept the shift lying down
Barents comes into focus for Norway
22 June 2018
There's a lot more gas and oil to be found in the Norwegian Arctic, if the explorers can be persuaded to look for it
Egypt wears the East Med LNG crown
20 June 2018
With production rising fast and other East Med countries looking for markets, Egypt is hoping that its LNG plants will soon come into their own