Cheap oil is a nightmare for Latin America. Peak Oil in Latin America

Territory, borders, position.

Latin America is the name given to the region of the Western Hemisphere located between the United States and Antarctica. It includes Mexico, Central and South America, and the island states of the Caribbean (or West Indies). Most of the population of Latin America speaks Spanish and Portuguese (Brazil), which belong to the group of Romance or Latin languages. Hence the name of the region - Latin America.

All Latin American countries are former colonies of European countries (mainly Spain and Portugal).

The area of ​​the region is 21 million square meters. km, population - 500 million people.

All Latin American countries, with the exception of Bolivia and Paraguay, either have access to oceans and seas (Atlantic and Pacific oceans), or are islands. The EGP of Latin America is also determined by the fact that it is located in relative proximity to the United States, but at a distance from other large regions.

Political map of the region.

Within Latin America there are 33 sovereign states and several dependent territories. All independent countries are either republics or states within the British-led Commonwealth (Antigua and Barbuda, Bahamas, Barbados, Belize, Guyana, Grenada, Dominica, St. Vincent and the Grenadines, St. Kitts and Nevis, St. Lucia, Trinidad and Tobago , Jamaica). Unitary states predominate. The exception is Brazil, Venezuela, Mexico, Argentina, which have a federal form of administrative-territorial structure.

Note:

Form of government (state system): KM – constitutional monarchy;

Form of territorial structure: U – unitary state; F – federation;

The countries of the region are very diverse in area. They can be divided into 4 groups:

very large (Brazil);

large and medium-sized (Mexico and most South American countries);

relatively small (Central American countries and Cuba);

very small (West Indies islands).

All Latin American countries are developing countries. In terms of the pace and achieved level of economic development, they occupy an intermediate position in the developing world - they are superior in this regard to the developing countries of Africa and inferior to the countries of Asia. The greatest successes in economic development have been achieved by Argentina, Brazil and Mexico, which are part of the group of key countries in the developing world. They account for 2/3 of Latin America's industrial production and the same amount of regional GDP. The most developed countries in the region also include Chile, Venezuela, Colombia, and Peru. Haiti belongs to the subgroup of least developed countries.

Within their region, Latin American countries have created several economic integration groups, the largest of which is the South American Common Market consisting of Argentina, Brazil, Paraguay and Uruguay (MERCOSUR), concentrating 45% of the population, 50% of total GDP and 33% of Latin America's foreign trade.

Population of Latin America

Exceptionally complex ethnic sos tav population of Latin America. It was formed under the influence of three components:

1. Indian tribes and peoples that inhabited the territory before the arrival of the colonists (Aztecs and Mayans in Mexico, Incas in the Central Andes, etc.). The indigenous Indian population today is about 15%.

2. European settlers, primarily from Spain and Portugal (Creoles). Whites in the region currently make up about 25%.

3. Africans are slaves. Today, blacks in Latin America make up about 10%.

About half of the population of Latin America are descendants of mixed marriages: mestizo, mulatto. Therefore, almost all Latin American nations have a complex ethnic background. In Mexico and the countries of Central America, mestizos mainly predominate, in Haiti, Jamaica, the Lesser Antilles - blacks, in most Andean countries Indians or mestizos predominate, in Uruguay, Chile and Costa Rica - Spanish-speaking creoles, in Brazil half are “white”, and half are blacks and mulattoes.

The colonization of America had a significant impact on the formation religious composition region. The vast majority of Latin Americans profess Catholicism, which for a long time was propagated as the only official religion.

The distribution of the population of Latin America is characterized by three main features:

1. Latin America is one of the least populated regions of the world. The average population density is only 25 people per 1 sq. km.

2. The uneven distribution of the population is much more pronounced than in other regions. Along with densely populated areas (the island states of the Caribbean, the Atlantic coast of Brazil, most metropolitan areas, etc.), vast areas are almost deserted.

3. In no other region of the world has the population mastered the plateau to such an extent and does not rise so high into the mountains.

By indicators urbanization Latin America resembles economically developed countries rather than developing countries, although the pace has slowed recently. The majority (76%) of the population is concentrated in cities. At the same time, there is an increasing concentration of the population in large cities, the number of which has exceeded 200, and in “millionaire” cities (there are about 40 of them). A special Latin American type of city has developed here, bearing some of the characteristics of European cities (the presence of a central square on which the town hall, cathedral, and administrative buildings are located). Streets usually diverge from the square at right angles, forming a “chessboard grid”. In recent decades, modern buildings have superimposed on such a grid.

In recent decades, Latin America has seen an active process of formation urban agglomerations. Four of them are among the largest in the world: Greater Mexico City (1/5 of the country's population), Greater Buenos Aires (1/3 of the country's population), Sao Paulo, Rio de Janeiro.

Latin America is also characterized by “false urbanization.” Sometimes up to 50% of the city's population live in slum areas (“poverty belts”).

Natural resource potential of Latin America.

The region's natural resources are rich and varied, favorable for both agriculture and industrial development.

Latin America is rich in mineral raw materials: it accounts for about 18% of oil reserves, 30% of ferrous and alloying metals, 25% of non-ferrous metals, 55% of rare and trace elements.

Geography of mineral resources in Latin America

The wealth and diversity of Latin America's mineral resources can be explained by the peculiarities of the geological structure of the territory. Deposits of ferrous, non-ferrous and rare metal ores are associated with the crystalline basement of the South American platform and the folded belt of the Cordillera and Andes. Oil and natural gas deposits are associated with marginal and intermountain troughs.

Latin America ranks first among large regions of the world in terms of water resources. The Amazon, Orinoco, and Parana rivers are among the largest in the world.

The enormous wealth of Latin America is its forests, which occupy more than 1/2 of the territory of this region.

The natural conditions of Latin America are generally favorable for the development of agriculture. Most of its territory is occupied by lowlands (La Plata, Amazonian and Orinoco) and plateaus (Guiana, Brazilian, Patagonian plateau), suitable for agricultural use. Due to its geographic location (almost the entire region is located in tropical and subtropical latitudes), Latin America receives a large amount of heat and sunlight. Areas with a sharp lack of moisture occupy a relatively small territory (southern Argentina, northern Chile, the Pacific coast of Peru, the northern regions of the Mexican Highlands); the predominant red-brown, chernozem, black and brown soils, combined with an abundance of heat and moisture, are capable of producing high yields of many valuable tropical and subtropical crops.

Vast areas of savannas and subtropical steppes (Argentina, Uruguay) can be used for pasture land. The main difficulties for agricultural activity are created by significant forest cover and swampiness of low-lying areas (especially the Amazonian lowland).

General characteristics of the Latin American economy.

Lagging behind Asia and Africa in terms of territory and population, Latin America is ahead in terms of industrialization of production. Unlike these regions of the world, the leading role in the economy here has recently shifted to the manufacturing industry. Both basic manufacturing industries (ferrous and non-ferrous metallurgy, oil refining) and avant-garde industries (electronics, electrical engineering, automotive manufacturing, shipbuilding, aircraft manufacturing, machine tool manufacturing) are developing here.

However, the mining industry continues to play a significant role in the economy. In the structure of product costs, 80% comes from fuel (mainly oil and gas) and about 20% from mining raw materials.

Latin America is one of the oldest oil and gas producing regions in the world. In terms of production and export of oil and natural gas, Mexico, Venezuela and Ecuador stand out.

Latin America is a prominent global producer and exporter of non-ferrous metal ores: bauxite (Brazil, Jamaica, Suriname, Guyana stand out), copper (Chile, Peru, Mexico), lead-zinc (Peru, Mexico), tin (Bolivia) and mercury (Mexico) ore

Latin American countries are also of great importance in the world production and export of iron and manganese (Brazil, Venezuela), uranium (Brazil, Argentina) ores, native sulfur (Mexico), potassium and sodium nitrate (Chile).

The main manufacturing industries - mechanical engineering and the chemical industry - are essentially developed in three countries - Brazil, Mexico and Argentina. The Big Three account for 4/5 of the manufacturing industry. Most other countries do not have mechanical engineering and chemical industries.

Specialization in mechanical engineering - automotive, shipbuilding, aircraft manufacturing, production of electrical household appliances and machines (sewing and washing machines, refrigerators, air conditioners), etc. The main directions of the chemical industry are petrochemicals, pharmaceutical and perfume industries.

The oil refining industry is represented by its enterprises in all oil-producing countries (Mexico, Venezuela, Ecuador, etc.). The world's largest (in terms of capacity) oil refineries were created on the islands of the Caribbean Sea (Virginia, Bahamas, Curacao, Trinidad, Aruba, etc.).

Non-ferrous and ferrous metallurgy is developing in close contact with the mining industry. Copper smelting enterprises are located in Mexico, Peru, Chile, lead and zinc - in Mexico and Peru, tin - in Bolivia, aluminum - in Brazil, steel - in Brazil, Venezuela, Mexico and Argentina.

The role of the textile and food industries is great. The leading branches of the textile industry are the production of cotton (Brazil), wool (Argentina and Uruguay) and synthetic (Mexico) fabrics, food - sugar, fruit canning, meat and cold processing, fish processing. The largest producer of cane sugar in the region and in the world is Brazil.

Agriculture The region is represented by two completely different sectors:

The first sector is a highly commercial, predominantly plantation economy, which in many countries has acquired the character of a monoculture: (bananas - Costa Rica, Colombia, Ecuador, Honduras, Panama; sugar - Cuba, etc.).

The second sector is consumer small-scale agriculture, not at all affected by the “green revolution”

The leading branch of agriculture in Latin America is crop production. The exception is Argentina and Uruguay, where the main industry is livestock farming. Currently, crop production in Latin America is characterized by monoculture (3/4 of the cost of all products falls on 10 products).

The leading role is played by grains, which are widespread in subtropical countries (Argentina, Uruguay, Chile, Mexico). The main grain crops of Latin America are wheat, rice, and corn. The largest producer and exporter of wheat and corn in the region is Argentina.

The main producers and exporters of cotton are Brazil, Paraguay, Mexico, sugar cane - Brazil, Mexico, Cuba, Jamaica, coffee - Brazil and Colombia, cocoa beans - Brazil, Ecuador, Dominican Republic.

The leading branches of livestock farming are cattle breeding (mainly for meat), sheep breeding (wool and meat and wool), and pig breeding. In terms of the size of the number of cattle and sheep, Argentina and Uruguay stand out, while pigs - Brazil and Mexico.

Llamas are bred in the mountainous regions of Peru, Bolivia and Ecuador. Fishing is of global importance (Chile and Peru stand out).

Transport.

Latin America accounts for 10% of the world's railway network, 7% of roads, 33% of inland waterways, 4% of air passenger traffic, 8% of the world's merchant fleet tonnage.

A decisive role in domestic transportation belongs to motor transport, which began to actively develop only in the 60s of the 20th century. The most important highways are the Pan-American and Trans-Amazonian highways.

The share of railway transport, despite the large length of railways, is declining. The technical equipment of this type of transport remains low. Many obsolete railway lines are being closed.

Water transport is most developed in Argentina, Brazil, Venezuela, Colombia, and Uruguay.

In external transportation, sea transport predominates. 2/5 of maritime transport occurs in Brazil.

Recently, as a result of the development of the oil refining industry, pipeline transport has been rapidly developing in the region.

The territorial structure of the economy of Latin American countries largely retains colonial features. The "economic capital" (usually a seaport) typically forms the main focus of the entire territory. Many areas with specialization in the extraction of mineral raw materials and fuel, or plantation farming, are located in the interior of the territory. The railway network, which has a tree structure, connects these areas with the “growth point” (the seaport). The rest of the territory remains underdeveloped.

Many countries in the region are implementing regional policies aimed at mitigating territorial imbalances. For example, in Mexico there is a shift of productive forces north to the US border, in Venezuela - to the east, to the rich resource region of Guayana, in Brazil - to the West, to the Amazon, in Argentina - to the south, to Patagonia.

Subregions of Latin America

Latin America is divided into several subregions:

1. Middle America includes Mexico, Central America and the West Indies. The countries of this region have great differences in economic terms. On the one hand, there is Mexico, whose economy is based on oil production and refining, and on the other, the countries of Central America and the West Indies, known for the development of plantation farming.

2. Andean countries (Venezuela, Colombia, Ecuador, Peru, Bolivia, Chile). For these countries, the mining industry is of particular importance. In agricultural production, the region is characterized by the cultivation of coffee, sugar cane and cotton.

3. Countries of the La Plata Basin (Paraguay, Uruguay, Argentina). This region is characterized by internal differences in the economic development of countries. Argentina is the most developed country with a developed manufacturing industry, while Uruguay and especially Paraguay lag behind in development and are characterized by an agricultural economy.

4. Countries such as Guiana, Suriname, Guyana .

5. The economies of Guyana and Suriname are based on the bauxite mining and alumina industries. Agriculture does not meet the needs of these countries. The main agricultural crops are rice, bananas, sugar cane, and citrus fruits. Guiana is an economically backward agricultural country. Its economy is based on agriculture and the meat processing industry. The main crop is sugar cane. Fishery (shrimp fishing) is developed. - a separate subregion of Latin America. This is one of the largest countries in the world in terms of territory. It ranks fifth in terms of population (155 million people). Brazil is one of the key countries in the developing world, its leader. The country has large mineral reserves (50 types of mineral raw materials), forest and agro-climatic resources.

In Brazilian industry, a significant role is played by mechanical engineering, petrochemicals, ferrous and non-ferrous metallurgy. The country stands out for its large-scale production of cars, airplanes, ships, mini and microcomputers, fertilizers, synthetic fibers, rubber, plastics, explosives, cotton fabrics, shoes, etc.

Important positions in industry are occupied by foreign capital, which controls most of the country's production.

Brazil's main trading partners are the USA, Japan, Great Britain, Switzerland and Argentina.

Brazil is a country with a pronounced oceanic type of economic location (90% of its population and production are located in a strip of 300-500 km on the Atlantic coast).

Brazil occupies a leading position in the production of agricultural products. The main branch of agriculture is crop production, which has an export orientation. More than 30% of the sown area is devoted to five main crops: coffee, cocoa beans, cotton, sugar cane, and soybeans. Corn, rice, and wheat are grown from grain crops, which are used to satisfy the country’s internal needs (in addition, up to 60% of wheat is imported).

Livestock farming has a predominantly meat profile (Brazil accounts for 10% of global beef trade).

WORLD MARKET

Goodbye monopoly!

The influx of private investment has given new impetus to the development of the oil and gas market in Latin America

Andrey MAYOROV

Latin America is one of the most oil-rich regions in the world. Sedimentary oil-bearing rocks occupy about half of the continent. The most promising areas for the search and production of hydrocarbons include: the sea and ocean shelves of Mexico, Brazil and Venezuela; the so-called Pre-Andean depression, which runs in South America along the entire eastern slope of the Andes; intermountain basins in Venezuela, Ecuador, Peru and Colombia; vast areas of the Brazilian Trench; a marginal trough near the Gulf of Mexico in Mexico. As of January 1, 1999, confirmed oil reserves in Latin America are estimated at 19 billion tons (about 140 billion barrels), which is 8.5% of the world's reserves.

Hydrocarbons are produced in 14 Latin American countries. The total volume of oil production in 1998 amounted to 468 million tons. The leading producers of “black gold” are Venezuela (155 million tons, or 33% of all oil production in the region) and Mexico (152 million tons, 32.5%). Next come Brazil, Argentina and Colombia, producing an average of 37-48 million tons per year, and Ecuador (19 million tons). Together, these six countries account for about 97% of total oil production in Latin America (see Tables 1 and 2).

Ecuador

Source: Energy Information Administration, USA

Oil production in Latin America has increased significantly over the past ten years. In the period from 1989 to the present, the largest increase in oil production was observed in Argentina, Colombia and Venezuela (80-85%), as well as in Brazil (61%). In the region as a whole, this figure increased by 46%.

Currently, over half of all oil production is carried out on the shelf, including: 58% in Mexico (Bay of Campeche), 63% in Venezuela (Maracaibo Lagoon), 61% in Brazil (section of the Atlantic shelf near the city of Campos), 75 % - in Trinidad and Tobago.

In the 90s, most Latin American countries abandoned the state monopoly on oil production and began to actively attract private, including foreign, companies to work in the oil and gas sector. The measures taken contributed to the influx of foreign investment, so necessary for the exploration and development of new fields. The leading oil companies of the USA, Canada, France, Great Britain, Germany, Spain and Japan showed the greatest activity. Let us briefly characterize the development of the oil industry in the leading oil-producing countries of the continent. In terms of proven oil reserves (72.5 billion barrels), this country ranks sixth in the world and first in Latin America (53%). The main production area is the Maracaibo oil and gas basin in the north-west of the country, whose proven oil reserves amount to 45 billion barrels. Over 60 deposits have been discovered here, the largest of which are Bolivar, Lama, Lamar, Mene Grande, La Paz, and Boscan. Significant reserves of oil, mainly heavy oil, have been discovered in the east of the country in the Orinoco River basin.

There are about 14.7 thousand wells operating in the country, including more than 10 thousand in the offshore fields of Maracaibo and on the continental shelf of the Caribbean Sea.

Total production is 3.17 million barrels per day.

Venezuela is one of the largest oil exporters (2.8 million barrels per day) and is part of OPEC. About 60% of the oil exported by Venezuela is supplied to North America, 30% to Latin American countries, and 7% to Europe. Income from the sale of this type of raw material accounts for more than 75% of the country's export earnings.

Oil production and refining in Venezuela is controlled by the state company Petroleos de Venezuela (PdV). Since 1991, the country's oil sector has adopted an "open door" policy for private, including foreign, capital.

This contributed to the entry of more than 60 of the world's largest oil companies into Venezuela. In particular, in 1996, agreements were signed between the specially created Venezuelan Petroleum Corporation (VNC) and a number of world oil giants, which, during competitions, won the right to explore and develop new oil fields on a concession basis in the country. Among them were the American Mobil, Conoco, Enron Oil & Gas, the English British Petroleum, the Argentine Maxus and Perez Campanc, the German Veba, the French Elf Aquitaine, the Japanese Nippon and the Canadian Northen.

By 2007, it is planned to double oil production. To achieve this goal, annual investments in the industry amount to over 7 billion dollars (in 1997 they amounted to 6.5 billion).

(March) 1has rich reserves of hydrocarbon raw materials, as well as a developed oil industry and infrastructure. It ranks eighth in the world and second in Latin America in terms of proven oil reserves (48 billion barrels), and in terms of production it is one of the five leading global producers of this raw material. In 1998, the country received more than 3.1 million barrels of oil per day (17% more than in 1989)

The main oil-bearing area of ​​the country is the offshore zone of Campeche, where average production reaches 2.2 million barrels per day, or 70% of the total oil production in the country. The southern zone is considered the second most important (0.6 million barrels per day, 20%).

Currently, there is an unresolved conflict between Mexico and the United States over the division of the sea shelf in the Gulf of Mexico. The issue came to a head in 1996, when a consortium of four American companies (Shell, Mobil, Texaco and Exxon) announced their intention to begin exploration and drilling in waters claimed by Mexico.

Mexico exports over 50% of its oil production. However, the share of hydrocarbons in total Mexican exports has been steadily declining: from 55% in the mid-80s to 33% in the early 90s. The main buyer of Mexican oil is the United States. In 1997, the latter imported 1.33 million barrels per day, which is almost half of Mexico's oil production. Foreign exchange earnings from oil exports occupy a significant place in the state budget. In 1997, they accounted for about 38% of its revenue ($11.5 billion). Therefore, the level of world oil prices has a significant impact on the financial situation of the country. In 1998, due to falling prices, Mexico, according to experts, lost $3.9 billion from oil exports.

The economies of Guyana and Suriname are based on the bauxite mining and alumina industries. Agriculture does not meet the needs of these countries. The main agricultural crops are rice, bananas, sugar cane, and citrus fruits. Guiana is an economically backward agricultural country. Its economy is based on agriculture and the meat processing industry. The main crop is sugar cane. Fishery (shrimp fishing) is developed. ranks third in Latin America in terms of proven oil reserves (according to various sources, 5-8 billion barrels). However, its extraction is complicated by the fact that only 15% of proven reserves are on land, and many offshore deposits are deep-sea (33% are located at depths from 400 to 1000 m, 35% - over 1000 m). The richest oil-bearing area is Campus Bay, which accounts for over 65% of all oil reserves in the country.

Since the mid-90s, production volumes have increased significantly. In 1998 it amounted to 0.97 million barrels per day (1.6 times more than in 1989). However, with its own oil it is possible to cover only 70-75% of the country's internal needs.

In order to reduce dependence on imports, by 2002 it is planned to increase the production of raw materials by another 1.8 times.

For a long time, the monopoly oil producer in Brazil was the state-owned company Petroleo Brasileiro (Petrobras), created in 1953. In 1995, to attract additional investment in oil production and refining, the Brazilian Congress adopted an amendment to the Constitution, which eliminated the Petrobras monopoly.

Venezuela It became a company with mixed capital, including several dozen subsidiaries. Its branches (Braspetro and Petrofertil) produce oil in Angola, Argentina and Ecuador, and conduct exploration under venture projects in Colombia, Ecuador and a number of other countries. In Brazil, Petrobras controls production at eight fields.

Over 50 national and foreign oil companies operate in the domestic market.

The largest of them is Yacimientos Petroliferos Fiscales (YPF), which was privatized in 1993. In terms of annual income (about $6 billion), YPF ranks first among non-state companies in Argentina and second in Latin America. In cooperation with Maxus, it produces hydrocarbons in the USA, Venezuela, Bolivia, Ecuador, Peru and Indonesia. Together with Petrobras, it conducts exploration in Brazil. By purchasing an 18.7% stake in the Canadian company Bitech Petroleum, which is engaged in oil exploration in Russia, YPF became the first Latin American oil company to appear on the Russian market.

One of the leading oil companies in Argentina also includes Bridas, which is engaged in the exploration, production and transportation of oil. In addition to Argentina, it operates in Chile, Brazil and Bolivia. Bridas also has two joint ventures for oil and gas production in Turkmenistan. In 1995, it began preparing a large-scale project for seismic exploration and deep-sea drilling in the Turkmen sector of the Caspian Sea shelf. Oil and gas complex Colombia

- one of the priority and most dynamically developing sectors of the national economy. The expansion of the country's oil production capabilities was facilitated by the discovery of a number of new large fields in the mid-90s.

Oil production in Latin America is dominated by Brazil, Mexico and Venezuela, countries that accounted for about 75% of the region's total production in 2014. These countries are also giants on the international stage, the world's ninth, tenth and twelfth oil producers, respectively. Colombia is also doing well in the world rankings, coming in 19th. The following list provides production data for each of the region's four largest oil producers, in addition to some details on each country's oil industry.

In 2014, Brazil's oil production was about 2.95 million barrels per day, continuing a nearly continuous trend of increasing annual oil production since at least 1980. According to the US Energy Information Administration (EIA), more than 90% of Brazil's oil production comes from deepwater offshore oil fields. In recent years, Brazil has made some of the world's largest new oil discoveries in its offshore pre-salt basins. At the end of 2014, national production estimates were updated to reflect the development of these new deposits. The country expects production to rise to 4 million barrels per day by 2022.

Petroleo Brasileiro S.A., also known as Petrobras, is Brazil's largest oil producer with a significant reserve, amounting to about 2.1 million barrels per day and more than 72% of Brazil's 2014 oil production. The Brazilian government owns 50.3% of the company's voting shares and controls another 9.9% of the company through shares held by the Brazilian Development Bank. Petrobras is listed on the BM&FBOVESPA exchange in São Paulo and has American Depositary Receipt (ADR) listings on the New York Stock Exchange. International oil companies operating in Brazil include Chevron Corporation, Royal Dutch Shell plc, BP plc, Repsol S.A. and China Petroleum and Chemical Corporation, also known as Sinopec.

2. Mexico

Mexico produced just 2.8 million barrels of oil per day in 2014, roughly the same as production over the past five years. This level of production has declined compared to previous decades, largely due to declining production from mature oil fields. From 1991 to 2010, Mexico's oil production exceeded 3 million barrels per day, including eight years exceeding 3.5 million barrels per day. While Mexico is the third largest oil exporter in the Americas, it has become a net importer of petroleum products, primarily gasoline and diesel.

From 1938 to 2013, Mexico's oil industry was monopolized by the state-owned oil and gas company Petroleos Mexicanos, also known as Pemex. Industry reforms were launched in 2013 in hopes of attracting larger foreign investment to reverse the country's production cuts. Pemex remains publicly owned, and since 2015 has controlled development rights to up to 83% of Mexico's proven oil reserves.

Mexico has not yet succeeded in its efforts to attract significant foreign investment. Two offshore exploration and production blocks were awarded to a consortium including London-listed Premier Oil plc; private American company Talos Energy, LLC. ; and private Mexican company Sierra Oil & Gas S. de R. L. de C. V. However, 12 other blocks available in the same auction failed to attract sufficient bids. Major oil companies including Chevron, BP and Royal Dutch Shell have expressed interest in entering Mexico, but do not produce in the country as of September 2015.

3. Venezuela

In 2014, Venezuela produced about 2.7 million barrels of oil per day. Production in recent years has fallen from the previous two decades, when daily production hovered around the 3 million barrel mark, including more than 3.5 million barrels per day in 1997. As of 2014, Venezuela has proven oil reserves of almost 298 billion barrels; these are the largest reserves in the world, ahead of Saudi Arabia's 266 billion barrels and Canada's 173 billion barrels.

The Venezuelan oil industry is dominated by the state-owned oil and gas company Petroleos de Venezuela S.A. The company was founded in 1976 immediately after the nationalization of the oil industry. In the 1990s, reforms were introduced to liberalize the industry, but political instability became the norm in the years, especially after President Yushchenko Hugo Chavez came to power in 1999. In 2006, Chavez introduced a policy requiring a review of existing joint ventures with international oil companies. International operators were required to provide a 60% minimum share of each project in Petroleos de Venezuela. More than a dozen international companies, including Chevron and Royal Dutch Shell, have joined the demands. The Venezuelan operations of two companies, Total S.A. and Eni S.p. A., were nationalized after the refusal to review. Other international companies have decided to withdraw from Venezuela soon, including Exxon Mobil Corporation and ConocoPhillips Co.

Although policy uncertainty remains in Venezuela even after the death of Hugo Chavez in 2013, many international oil and gas companies continue to maintain operations in the country, Chevron and Chinese oil giant China National Petroleum Corporation signed investment agreements with Petroleos de Venezuela in 2013 to renovate and expand existing joint ventures. In 2015, the Russian energy conglomerate, OJSC Rosneft, agreed to a $14 billion investment plan. The United States is the largest international investment in the Venezuelan oil industry in recent years.

4. Colombia

In 2014, Colombia produced just over 1 million barrels of oil per day. The country has achieved significant production growth in recent years, increasing production to 550,000 barrels per day in 2007. According to UIA S. EIA, Colombia's recent high growth rates of oil, gas and coal production can be attributed to energy industry reforms introduced in 2003 year. These reforms mainly worked to make investments in Colombian energy exploration and production more attractive to international companies. International investment in the oil industry has reached more than $4. 8 billion in 2014, about 30% of the total foreign direct investment (FDI) in the country. In 2003, Colombia raised only $278 million. US in FDI in the oil sector.

Prior to energy reforms in 2003, the Colombian oil and gas industry was controlled by the state oil and gas company and industry regulator Ecopetrol S.A. The reforms removed regulatory responsibilities from Ecopetrol and opened Colombia up to international competition. Ecopetrol remains under the control of the Colombian state, which owns 88.5% of the shares. The company is listed on the Colombian Stock Exchange and has ADR listings on the New York Stock Exchange and the Toronto Stock Exchange.

Ecopetrol was responsible for producing about 580,000 barrels of oil per day in 2014, approximately 57% of Colombian production. More than 100 international oil and gas companies operate in Colombia, often in joint ventures with Ecopetrol or other operators. The country's largest international oil and gas producers are Chevron; Repsol and its subsidiary Talisman Energy, Inc.; Occidental Petroleum Corporation; and ExxonMobil.

About 13% of the world's oil reserves are concentrated in the depths of Latin America; the continent's share of its global production and export is approximately the same. The leading positions are occupied by Mexico (38% in the region and 5% in the world) and Venezuela (31 and 4%, respectively). The main buyer of Latin American oil is the United States, and in recent years the volume of oil supplies to the United States has increased significantly. At the same time, the United States’ own oil production is falling: existing reserves are depleted, the prospects for discovering new ones are doubtful, and high taxes and strict environmental standards are far from stimulating factors.
In 1994, the United States accounted for 73%, and in the first half of 1995, almost 80% of Mexico's oil exports. Supplies of liquid hydrocarbons from this country to the United States exceed 1 million barrels per day and will apparently increase as integration processes within NAFTA strengthen. At the same time, Mexico continues to jealously protect the exploitation of its natural resources from foreign, including American, capital. In 1993, a law on foreign investment was adopted there, according to which exclusive rights to oil production are granted to local state-owned companies (the largest among them is Pemex).
A different picture is observed in other Latin American countries. The first place to attract foreign investment was Argentina, where the Americans and the Dutch, Exxon Corp., were the first to get involved in oil exploration and production. and Royal Dutch Shell. In September 1995, Argentina and Great Britain entered into an agreement on cooperation in the development of the richest offshore oil fields in the area of ​​the Falkland Islands (Malvinas), for which they had recently fought.
In 1994, Venezuela became the first among the large OPEC member countries to give foreign companies the green light for oil exploration. Currently, ten applicants out of three hundred are being selected for the development of Venezuelan deposits. In particular, the companies Lagoven and Corpoven (branches of Petroleos de Venezuela, which became the second largest company in the world in 1993) signed an agreement with the American Mobil Oil and Arco International Oil & Gas Corp. on joint exploration and exploitation of resources in the south and southeast of the country. The French Total, Japanese Marubeni and Itochu are taking part in the implementation of another project in the south. As for the tenders held at the end of January, despite the very strict conditions proposed by the state, 74 foreign and one local companies submitted bids to participate in them, and 28 of them united into 11 consortia. Among them: British Petroleum - Amoco Oil, Mobil Oil - Nippon - Weba, Texaco - British Gas - Mitsubishi, Exxon - Shell, Occidental Petroleum - Repsol. Over the next 10 years, field development will require investments of about $10 billion.
Important amendments to the constitution abolishing the state monopoly on oil operations were recently introduced in Brazil. Foreign capital received the right to enter into contracts for the exploration and exploitation of fields, oil refining and transportation of petroleum products. True, President Fernando Cardoso promised Petrobras, the monopolist in the country’s oil market, that access of foreign and local private capital to the fields already being developed by this company would be closed. Petrobras currently operates more than 5.5 thousand wells and about 100 offshore drilling platforms, and its daily production capacity reaches 650 thousand barrels of oil.
Today, Colombia is also attracting increased interest from foreign companies; by the end of the century, it is predicted to become one of the largest oil producers in the world and the third largest in Latin America. Only through the development of the oil-rich eastern regions (approximately 275 million tons) will oil production increase from 600 thousand to 1 million barrels per day. The main foreign investors in Colombia are the British—primarily British Petroleum, which discovered the largest field in the republic, Cusiana, in 1991, dubbed the “sea of ​​oil.” According to some reports, the British are ready to invest up to $2 billion in the development of oil production in this area.
In Peru, contracts with the American companies Murphy Oil and Arco (for the development of areas along the border with Brazil and Ecuador), as well as with the Spanish Repsol (for the development of a field on the northern coast) are estimated at $120 million. In addition, applications for concessions are coming from Royal Dutch Shell, Japanese National Oil Company, American Atlantic Resources Field Company and Santa Fe Energy, Canadian Amoco, Chinese Sapet, Mexican Mexpetrol, Brazilian Petrobras, Argentine Plus Petrol and Perez Compac. In general, in Peru it is planned to grant concessions to areas in the depths of which 15% of reliable oil reserves are concentrated. Today, almost 60% of this country's oil production is concentrated in the hands of foreign companies, including the American Occidental Petroleum Co. (40%) and Petrotech (14%), American-Argentine OXY-Bridas (4%).
The attention of oil companies in other countries is focused on a large field that was recently discovered in the Eastern Cordillera region. The prospects there are so promising that, along with concluding contracts with foreign companies, the state-owned enterprise Ecopetrol plans to independently invest at least $100 million annually in its development. In order to increase the influx of capital, the Colombian government intends to improve conditions for foreign companies, in particular, reduce the tax on oil production in new fields and begin paying a 50 percent share of exploration costs.
Even Cuba, where a real energy famine began after the end of Soviet tutelage, has been forced to involve foreign companies in the search and production of oil since 1990. Now Canadian, English, French, Swedish and Mexican companies are intensively exploring and developing oil fields there at risk. Moreover, they work primarily with documentation and materials that were once prepared by Soviet specialists. Oil production in Cuba has been increased to 1.45 million tons, which is 550 thousand more than the maximum production volume during the period of cooperation with the USSR. Approximately 35% of them are mined by Canadian Sherritt. Russia also intends to resume oil exploration in Cuba, albeit on a risk-based basis and on the principle of profit sharing. Drilling work in three offshore areas in the northern coast area is expected to begin this spring. According to preliminary data, explored reserves there will allow production of up to 5 million tons per year.
So far, in Latin America, Russia is participating in only one project for the development of oil fields - in the south of Peru in the area of ​​​​Lake Titicaca. The Yugansk-Petro-Andes joint venture organized there (75% of the capital belongs to Yuganskneftegaz JSC, 25% to the Peruvian company Petro Andes S.A.) last August received a concession for an oil and gas field with an estimated reserve volume of 45 million tons. Under the terms of the contract concluded with the state-owned company Petroperu, the Russian-Peruvian enterprise was issued a license for 30 years, including 7 years of exploration work.

Latin America

The importance of the fuel and energy complex of the Latin American economy is difficult to overestimate. This is one of the most important sectors of the economy of most countries in the region.

Latin Americans have long called their energy industry oil. For many decades, Latin America has stood out among other regions with a significant share of oil in the structure of the fuel and energy balance. The energy situation of Latin America (especially in the future) is largely associated with the development of huge reserves of extra-heavy oil concentrated in the Orinoco Basin (Venezuela). Some countries in the region are experiencing a sharp shortage of petroleum products, while being oil exporters (for example, Mexico). In many countries, the influence of the public sector of the economy in the oil and gas sector is very strong. Currently, some countries (for example, Venezuela) provide fields for development to foreign companies. As for the gas industry, its share in the energy balance of Latin America is growing most rapidly. So in 1986 it was 14%, in 1996 it reached 21%, and in 2005. was already about 30% and continues to grow. Therefore, some countries in the region are dependent on gas imports.

Today, there are 51 known oil and gas basins in South America, but only 25 of them are in operation.

Venezuela

Venezuela is a major global oil producer and exporter and a member of OPEC. According to BP, in 2011, proven oil reserves in Venezuela amounted to 46.3 billion tons (almost 40% of world reserves), which means that the country takes first place in the world in terms of oil reserves. But only 11.9 billion tons come from conventional and shelf fields, and 33.4 billion tons come from the tar sands of the Orinoco belt, the development of which is complicated by the low level of investment and the high cost of local oil. According to the IEA, about 141.1 million tons of oil and condensate were produced in Venezuela in 2011, which means a decrease in production levels by 18.9% compared to 2005 levels. This is due to the low level of investment in new fields and insufficient development of production technologies. Most of the raw materials are extracted on the Bolivar shelf, in the Bolivar, Tijuana, Bochaquero, Lagunllas fields, which are part of the Maracaibo oil and gas basin. Production has also begun in the Orinoco belt and a number of development projects are underway. Currently, Venezuela is the largest oil exporter in the Western Hemisphere; in 2010, according to the EIA, 80.6 million tons were exported, with 40% of exports going to the United States, 34% to the Caribbean, 6% to China. The country is also a fairly large producer (about 65 million tons per year) and supplier of petroleum products (25.7 million tons were exported in 2010).

Proven gas reserves in 2011, according to BP, amounted to 5.5 trillion. m3 production reached 25 billion m3. However, the country does not meet its internal gas needs and is forced to import about 2 billion m3 annually from Colombia. Plans include a project to increase gas production to meet domestic needs and imports, as well as the construction of three LNG plants, but the project is being slowed down due to the lack of free gas volume to load the plants.

According to the IEA for 2010, the structure of production of primary energy resources is dominated by oil (83%); significant shares of natural gas (12%) and hydropower (3.4%). Petroleum products (57.2%) and natural gas (32.8%) lead in the consumption structure; the share of renewable sources is 9.8%.