Venezuela: paradoxes of resource nationalism

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Not all news out of Venezuela is shortages and protest.  While the economy grinds to a halt and the government issues a new bill worth 20,000 Bolívares, the government of Venezuela has been busy pursuing foreign investors and subscribing new deals to revive oil production and exploit its vast mineral deposits. The government maintains that it will own 55% of every JV and an equal share of profits and collect tax revenues and sow the riches. Is it possible, under Venezuela's present conditions, to attract investment and obtain favorable terms? What can Venezuela accomplish? and what does it tell us ...

Vaca Muerta in the headlines again: government sweetens the pot

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On January 10, President Macri of Argentina announced new policy measures to revive investment in the Vaca Muerta shale deposits. In the picture above, the president is flanked by the leading figures in all matters Vaca Muerta. To the left, by the governor of Neuquén, Omar Gutiérrez, and to the right, by the oil workers' union regional representative, Guillermo Pereyra, and the Minister of Energy, Juan José Aranguren. The announcement was hailed as "historic" by its participants, but is mainly a commitment to continue subsidizing the domestic price of gas to producers, plus some measures to reduce labor costs. Here are ...

China emerges as dominant player in Argentina’s renewables

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China emerged as the big winner in Argentina's auctions this year. Also of note is the near total absence of U.S. companies. According to GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT 2016  China was by far the largest investing country for renewables; excluding large hydro, China invested $102.9 billion in 2015, up 17% from the previous year, representing well over a third of the global total. The US was a distant second, with $44.1 billion, up 19%. While the numbers are much smaller in Argentina, it is undeniable that China has established a dominant presence in the budding renewable energy market. Chinese companies ...