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Pemex scrambles to plug the gap
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
Brazil rides a production wave
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
Hydrocarbon Processing Refining Databook 2025: Americas
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
Latin America’s evolving crude outlook
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility
Mexico’s energy ambitions weigh heavily on Pemex
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
US election means little to Tehran and Caracas
Geopolitical strife embroiling Iran and political corruption in Venezuela suggest little near-term change to oil production from either of the sanctioned states
Mexico’s new president faces fiscal crunch
While greater focus on decarbonisation is likely, economic pressures and huge debt burden could squeeze energy policy ambitions
Brazil awaits contentious Equatorial Margin call
Political rancour is rising as politicians appeal for environmental licence to explore the mouth of the Amazon
Letter from South America: Sanction threat fails to curb Caracas
Washington has put oil and gas sanctions back in place while Venezuela prepares for elections. But exemptions remain as the Biden administration looks to domestic gasoline prices ahead of the US’ own elections later this year
Mexico’s election could evolve oil nationalism
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
Mexico Venezuela Brazil Pemex Petrobras
Justin Jacobs
27 February 2018
Follow @PetroleumEcon
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Is Amlo a threat to Mexico's oil opening?

The industry fears a López Obrador victory in July's presidential election could derail the country's reforms

The biggest threat hanging over Mexico's historic energy reforms is the rise of leftist presidential candidate Andrés Manuel López Obrador, widely known as Amlo, who has been a harsh critic of opening up the sector to foreign investors. Amlo's critics warn that a victory in July's presidential election will derail the reforms and could bring a Hugo Chávez style renationalisation of the industry. In a coordinated media blitz over the past couple of weeks, some of Amlo's top advisors have sought to soften the edges of the candidate's opposition to the reforms and tame industry fears over his possible victory. "It would be an error for the next administration to cancel all that has been accompl

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