Seesawing year for Latin American producers
Brazil was hoping to start a new page in 2018, while Mexico’s new president also announced changes. But Venezuela continued its precipitous decline
In Latin America, a spate of discoveries and licensing rounds attracted a strong uptick in foreign investment. In Argentina, efforts were underway to counteract the deterioration of its E&P sector. The country, home to abundant shale reserves, has gone from a chief net exporter to a net importer of gas in recent years. To keep its energy industry above water, the government is promoting development of complex reservoirs. The largely undeveloped Vaca Muerta shale, in particular, is said to hold upwards of 16bn barrels of oil and 308tr cf of recoverable gas. After numerous incentives were proposed by President Mauricio Macri, in an effort to reduce the high cost associated with development
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