Letter from South America: Brazil leads the way

Brazil stands out from the rest of the continent in terms of growth potential

As surging oil prices promise to breathe new life into declining oil sectors around the world, Latin America exhibits different prospects for growth. While Guyana and Suriname have had many recent discoveries and promise to absorb significant investment into upstream projects, Guyana’s plays are still in the early stages of development, and production will ramp up significantly only after 2025. Suriname is at an even earlier stage and will depend on further exploratory successes to justify significant production projections. In Mexico, President Andres Lopez Obrador has dashed hopes that the petroleum reforms brought in by his predecessor, Pena Nieto, would result in renewed vigour and rever