05/24  Closing Prices / revised 05/27/2024 07:50 GMT 05/24    OPEC Basket  $81.92  -$0.49 cents     | 05/24    Mexico Basket (MME) $73.35  +$0.89 cents   | 04/30 Venezuela Basket (Merey)   $74.91   +$3.93 cents | 05/24   NYMEX WTI Texas Intermediate June CLM24   $77.72   +$0.85 cents  | 05/24    ICE Brent July  BRNN24     $82.1     +$0.76 cents    | 05/24    NYMEX Gasoline June RBM24     $2.48  +0.6%    |  05/24   NYMEX  Heating Oil June  HOM 24     $2.41   +0.1% | 05/24     Natural Gas June NGM24  $2.52     -5.2%   | 05/24    Active U.S. Rig Count (Oil & Gas)    600  -4  | 05/27    USD/MXN Mexican Peso  16.6994  (data live)  | 05/27   EUR/USD    1.0850 (data live)  | 05/27   US/Bs. (Bolivar)   $36.51290000 ( data BCV)

Charts: Oil, gas and coal projects regain lead as Latin America’s hottest investment sector – Zignox

The International Monetary Fund raised its 2023 output growth estimate for Latin America and the Caribbean to 2.3% from July’s 1.9% due to faster expected growth in Brazil and Mexico, the fund said in a report on Tuesday. (Reuters)

Zignox

NEW YORK
Energiesnet.com 10 12 2023

Latin America’s traditional energy sector is regaining attention from international investors as oil, gas, and coal industries led the number of foreign direct investment projects announced in the region last year, official data shows.

Projects in the traditional energy sector accounted for close to USD24 billion of almost USD100 billion in projects to be developed in the region in the coming years, reflecting an improved outlook for future investments, the United Nations Economic Commission for Latin America and the Caribbean, ECLAC, said in a recent study on FDI.

“For the first time since 2010, coal, oil, and gas project announcements accounted for the largest share, at 24% of the total amount, growing more than ninefold on the prior year,” the report says. The growth in coal, oil, and gas mainly came from large projects announced in Guyana and Mexico, which together totaled over USD 22 billion, or 93% of the total for projects in the sector.

Latin America registered a record of USD224.5 billion in foreign investment in 2022, an increase of 55.2% compared to 2021, amid a recovery of the regional economies after the Covid pandemic, and the disruptions from the war in Ukraine which favored the countries of the continent. The study shows that Brazil, Mexico, Argentina, and Colombia achieved the greatest increase in the inflow of foreign capital to their financial accounts. Brazil received USD91.5 billion, an increase of 97% compared to 2021. For its part, Mexico got USD38.3 billion, while Argentina obtained USD8.5 billion and Colombia USD7.3 billion.

…and Latin America’s FDI rebounded to a record USD224.5 billion last year

(FDI inflows, by recipient country and subregion, 2013–2022)

Source: Cepal, FDI Latam Report, July 2023
Source: Cepal, FDI Latam Report, July 2023

Latam Government Spending

Source: The Global Economy based on World Bank data.
Source: The Global Economy based on World Bank data.
Source: The Global Economy based on World Bank data
Source: The Global Economy based on World Bank data

Goldman Sach’s 2023 Latam Forecast

Source: Goldman Sachs, January 2023 report.
Source: Goldman Sachs, January 2023 report.

zignox.com 10 10 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top