(IDB, 29.Oct.2007) — The Camisea natural gas project has transformed Peru, reducing energy costs, increasing national revenue and spurring economic growth, according to a study released by Apoyo ConsultorÃa , one of Peru’s leading economic consulting firms. The firm said in a study commissioned by the IDB that the project […]
Petro-Canada Joins Venezuelan Oil Exodus
(Reuters, 26.Jun.2007) — Petro-Canada has pulled out of Venezuela by rejecting new nationalistic terms for oil projects and passing its stake in one discovery to President Hugo Chavez’s government, it said on Tuesday. “We have decided not to migrate to the new commercial structure, so our working interest passes to […]
Large Oil Field Is Found in Belize; the Angling Begins
(NPR, 11.Oct.2006) — An oil discovery in Belize could be a windfall for this poor, underdeveloped Central American country. But there are concerns that the government will mismanage the resource and allow the new oil industry to destroy Belize’s pristine wilderness. U.S. oil companies are also fuming that the government […]
Bolivia’s Nationalization of Oil and Gas
(Council on Foreign Relations, Carin Zissis, 12.May.2006) — In a region seen as turning leftward, forging alliances would seem a natural course of events. But Bolivian President Evo Morales’ decision to nationalize the oil and gas industry is exposing tensions, causing experts to say there is more diffusion than alliance-building […]