Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
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
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
Brazil seeks greater oil market influence
Despite environmental criticism, President Lula sees opportunity to build bridges with OPEC+ allies
Mexico’s fledgling LNG export industry faces growth challenges
While developers are making progress, infrastructure, regulatory and political uncertainties risk stunting opportunities
Brazil Mexico Venezuela Petrobras Pemex PDV
Justin Jacobs
5 December 2017
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Petropolitics hang over Latin America's producers

Elections next year in Venezuela, Mexico and Brazil have pivoted politics to the region’s fore again. Can it break the self-destructive resource-nationalist cycle?

At the turn of this century, nobody would have guessed that within two decades Brazil, then a backwater for the oil industry, would be pumping more crude than powerhouse producers Mexico and Venezuela. Yet last year it did just that, partly thanks to a run up in its own output, and partly because of the decline of the others'. The change in fortunes shows how the region's volatile petropolitics, and of course a bit of geological luck, have shaped the landscape and will forge its future. Venezuela is now the poster child for oil politics gone awry. Twenty years ago, it was embarking on a policy of apertura, opening its vast Orinoco oil reserves to private foreign investors. Cash flooded in an

Also in this section
Trump’s energy report card
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
OPEC+ off-target in July
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
The great OPEC+ reset
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
Latest EU sanctions largely toothless
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search