Latin America feels the heat
Extreme weather conditions are compounding upstream challenges and pressuring governments across the region
Many Latin American countries are suffering their worst droughts in decades, affecting some of the region’s largest oil and gas producers. Several have not seen any rainfall in months, while further east major tributaries of the Amazon River have dropped to record low levels. Ecuador is among the worst hit. Already suffering a security crisis, the country is experiencing its worst drought in 61 years. Widespread blackouts have hit the power sector, while the government has been forced to ration electricity due to Ecuador’s dependence on hydroelectric power. Already, the crisis has had political implications. Ecuador’s minister of energy, Antonio Goncalves, resigned in early October and was r

Also in this section
21 August 2025
The administration has once more reduced its short-term gas price forecasts, but the expectation remains the market will tighten over the coming year, on the back of
19 August 2025
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher