Inguazu Falls, Argentina
M
any countries in Latin America are blessed with
an abundance of oil and gas. According to the
US Energy Information Administration (EIA),
Latin America (the South American continent and Mexico),
holds a total of 340 billion bbls of proven crude reserves and
production exceeding 7million bpd. The region also had a total
of 277 trillion ft
3
of conventional gas reserves and produced
slightly over 16.3 billion ft
3
/d in 2013.
And while no country has escaped the recent pressures of
low commodity prices, some have fared far better than others.
Who is winning – and who is losing – largely depends on how
central governments have promoted (or impeded), the sector.
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