پیامدهای استراتژیک سیاستهای نفتی آمریکای لاتین بازارمحور نوظهور

This paper examines key policy features of strategic importance to oil and gas companies with interest in Latin America. Recent energy policy developments in the region have shifted between alternate models about the roles that the state and the private sector play in petroleum exploration and production activities. Major shifts in the energy policies of the eight most important petroleum producing countries in the region over the last twenty years are discussed. Four prominent features are found to be present in regimes with the most attractive and stable conditions for private investors. The role of independent resource administration institutions and of national oil companies is highlighted as a stabilizing factor and a key vehicle for domestic policies on fuel pricing. Two other aspects of energy policy are examined: the relative energy wealth status of the eight countries as a driver for fuels subsides, and the types of petroleum exploration and production contracts used to delineate the roles of private investors.