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Impact of oil price on upstream investment, costs and production in Latin America

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23 May 2016

Impact of oil price on upstream investment, costs and production in Latin America

Report summary

Since the oil price crash, operators in Latin America have cut 2016-17 upstream investment by 29%. The reductions were a result of delayed or cancelled projects, in addition to cost savings. Large projects in Brazil, Mexico, and Venezuela had the greatest impact. Brazil is leading the way in cost savings while Mexico and Venezuela have slashed investment through delays and budget cuts.

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