In Latin America, the "oil destinations" are:
- Naturally, I am only listing the administrative capitals of the region's oil companies, not the field operations [except, of course, for Rio where most of the production projects are deepwater offshore locations off the RJ
- center of Brazil's energy sector; home to Petrobras SA
[USD 45 billion market cap!] and all the international firms now operating since the Republic initiated its oil/gas field auction "rounds" in 1998. RD
Group, etc. all have offices in Rio.
- Argentine HQ
for Repsol YPF, as well as several other international firms, BP
/PanAmerican Energy, Petrobras SA
, Total SA
/Shell [refining and marketing only]. Field operations in Neuquen, Santa Cruz, etc. accessed via cabotage flights from AEP
- despite the NIGHTMARE initiated by the Chavez administration and subsequent ratification of CONFISCATORY operating laws, Venezuela is still home to the largest hydrocarbon reserves in the Western Hemisphere. PDVSA is a chaotic mess of competing political agendas and a den of corruption, but still manages to produce over 2 million Bdl/day [who knows? PDVSA's actual data is impossible to obtain!!]
- PEMEX's ; for now, Mexico is ONLY of interest to oil service firms as its hydrocarbon sector is constitutionally reserved for PEMEX. However, things are moving fast and the Company's CEO has requested Congress ratify legislation to open up the sector to private investment. Also Repsol YPF and Petrobras SA
have natural gas service agreements with PEMEX. Huge investment is sorely-needed and Mexico's energy sector will take-off once [or if] the sector opens up.
- Ecuador's production takes place in its Oriente region east of the capital. Several firms have offices in Quito, including Petrobras SA
[after buying Perez Companc SA
in 2002], EnCana [wanna buy? their fields are for sale!!!], Repsol YPF, ENI
SpA. New oleoducto de crudo pesado [OCP] online since 2003.
VVI - Bolivia's natural gas fields have HUGE potential. Unfortunately, political wackiness here exceeds even Venezuela's crazy environment. The new 50% royalty bill currently in Congress is a complete NIGHTMARE and nationalism against "evil foreigners" [even imaginary Chilean ones!!] will postpone the country's assumption as the region's natural gas powerhouse for many, many years.
- Big future with the start of operations from the new Camisea natural gas pipeline; investors include Hunt Petroleum and Techint of Argentina.