Latin America Oil and Gas Report - Business Monitor International - Industry Reports

Latin America Oil and Gas Report

Latin America Oil and Gas Report - Business Monitor International - Industry Reports
Latin America Oil and Gas Report
Published Oct 01, 2016
80 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Substantial debt loads on the balance sheets of the region s national oil companies (NOC) will discourage stronger investment levels in an effort to satisfy maturing obligations. We believe debt-servicing will take precedent over exploration and production spending given the close fiscal ties between NOCs and their sovereign. Upstream activity throughout the region will decelerate further as producers adjust their spending to persistently lower commodity prices. We maintain that both Brent and WTI benchmark prices will average below USD--.-/bbl through to ----, forcing both public and privately owned operators to limit capex as upstream revenues remain depressed. Regional oil output will return to modest growth in ---- as a result of ongoing sector reforms which will spur investment into exploration and production (E&P) in Mexico and Argentina. ...The regulatory and security environments will ultimately determine the attractiveness of the region s vast resources. Unfavourable regulations in Venezuela and Bolivia, and to an increasing extent Brazil, will stymie E&P investment from the private sector, perpetuating an overreliance on state-owned

...The three largest oil producers in Latin America - Venezuela, Brazil and Mexico - represent a combined --.- of the region s total oil production. Persistently weaker oil prices will strengthen producers focus on exploration and production (E&P) activities in both Venezuela and Brazil over the next decade. ...Persistently weaker oil prices will strengthen producers focus on exploration and production (E&P) activities in both Venezuela and Brazil over the next decade. By contrast, Mexican state-owned Pemex will begin to allocate more resources to the more profitable downstream sector in preparation for growing private investment into upstream projects, giving Brazil an increased share of regional liquids output. However, we caution that the broader industry downturn and less favourable regulatory environments will combine with significant debt obligations to limit production growth in Brazil and Venezuela over the next several months. ...However, we caution that the broader industry downturn and less favourable regulatory environments will combine with significant debt obligations to limit production growth in Brazil and Venezuela over the next several months. This will dissuade greater private sector involvement, thereby maintaining the dominance of heavily indebted national oil companies (NOCs) Petrobras and PdVSA.

...*Note: includes bonds and loans maturing H--- - H---. Source: Bloomberg Brazilian oil production will increase by a modest average of -.- y-o-y through ---- despite vast below- ground potential and continued efforts by Petrobras to expand output, particularly offshore. ...

  
Source:
Document ID
2398-080X
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Latin America Oil and Gas Report" Oct 01, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Latin-America-Oil-and-Gas-Report-2026-1955>
  
APA:
Business Monitor International - Industry Reports. (2016). Latin America Oil and Gas Report Oct 01, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Latin-America-Oil-and-Gas-Report-2026-1955>
  
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