Latin America plays catch-up
The pandemic wreaked havoc on NOC balance sheets in 2020, but the region still has some competitive advantages
Latin America has some of the best subsurface upstream opportunities globally, but NOCs must foster greater resilience to fully capitalise on the region’s resource potential, according to panellists at CeraWeek by IHS Markit. “Resilience is determined by being vertically integrated,” says Juan Manuel Rojas, corporate vice president, strategy and business development, at Colombian NOC Ecopetrol. “Our midstream does a great job in countering a drop in revenues from the upstream, and similarly the downstream is resilient when refineries are affected.” “We are going to deliver a very competitive barrel of oil, a barrel that costs the lowest in the supply curve” Santos, Petrobras For Bra
Also in this section
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
