Energy in Latin America: Production, Consumption, and Future Growth

By Kang Wu; Cynthia Obadia | Go to book overview

tives is to promote foreign and domestic private investment in exploration, refining, and marketing operations. The government is especially eager to encourage exploration of the gas-rich Camisea fields. While the opportunities for participation in Peru's oil and gas sectors by foreign companies are potentially great, a number of issues must be satisfactorily addressed in order to realize the investment targets.

The most important policy issue is the ability of the Peruvian government to ensure the safety of private and foreign investments that are threatened by radical groups' attacks and nationalistic sentiments. Another important issue is the solution of the 1985 expropriation of the offshore properties belonging to Belco (a subsidiary of the Houston-based Enron Corporation) and various other financial disputes between Petroperú and foreign oil companies. Furthermore, the growing influence of environmental groups in the country may complicate the government's efforts to increase oil production and attract foreign investment. On the political front, the dispute between the current administration and the congress, and the subsequent move of President Fujimori to dissolve the congress, have posed some problems for the government's new policy initiatives. In light of these difficulties, the prospects for a smooth and successful privatization of Peru's state oil and gas sectors are questionable.


NOTES
1
See IDB ( 1993).
2
See Culver-Hopper et al. ( 1992), p. 53.
3
See EIU ( 1993g) for details.
4
See Oil & Gas Journal, March 14, 1994, p. 87.
5
See World Oil Trade ( 1993).
6
See Platt Oilgram News, January 29, 1993.
7
See EIU ( 1993g), pp. 19-20.
8
See Obadía et al. ( 1992), p. 43.
9
See IDB ( 1993).
10
See Oil & Gas Journal, October 26, 1992.
11
Petroperú failed to sell its 6,300 b/d Conchan refinery as no bidders applied for the sell-off in late 1992. See Petroleum Economist, November 1992.
12
See World Oil Trade ( 1993).
13
See Oil & Gas Journal, October 26, 1992.

-180-

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Energy in Latin America: Production, Consumption, and Future Growth
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Illustrations xi
  • Abbreviations, Acronyms, and Measurements xvii
  • Foreword xix
  • Preface xxi
  • Chapter 1 - Regional Overview of Latin American Energy 1
  • Notes 12
  • Chapter 2 - Mexico 27
  • Notes 36
  • Chapter 3 - Venezuela 49
  • Notes 57
  • Chapter 4 - Brazil 69
  • Notes 78
  • Chapter 5 - Argentina 91
  • Notes 101
  • Chapter 6 - Colombia 113
  • Notes 120
  • Chapter 7 - Ecuador 133
  • Notes 140
  • Chapter 8 - Trinidad and Tobago 151
  • Notes 159
  • Chapter 9 - Peru 173
  • Notes 180
  • Chapter 10 - Bolivia 193
  • Notes 200
  • Chapter 11 - Chile 211
  • Notes 217
  • Chapter 12 - Future Energy Growth in Latin America 229
  • Notes 240
  • Appendixes 253
  • References 299
  • Index 303
  • About the Author *
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