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Brazil looks to solve its energy security travails
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
Major upstream decline threatens Mexico’s energy security
Dire crude projections and heavy debt burden are weighing heavily on NOC Pemex
Argentina makes progress on LNG dream
Eni is joining the first phase of the 30mt/yr ARGLNG, while consortium behind the smaller Southern Energy LNG has reached FID
Andean upstream feels the heat
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
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
Argentina poised to surpass record oil production
Imminent midstream additions in the Vaca Muerta set the stage for sharp jump in upstream growth
Colombian E&Ps face bleak upstream outlook
Political backbiting and slumping drilling activity point to further declines ahead of next year’s election
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
Brazil combines a large oil potential with a relatively attractive oil and gas investment environment
Opinion
Brazil Mexico Argentina Bolivia Uruguay Colombia
Cleveland Jones
Rio de Janeiro
8 February 2022
Follow @PetroleumEcon
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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

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