Oil: principal source of export for Latin America

Journal Article · Sun Jul 01 04:00:00 EDT 1979 · Pet. Int.; (United States)

OSTI ID:6802557

Pena, G

Latin America is becoming the most active drilling region in the world, exceeded only by the US. Oil production continues to increase with Mexico heading the list. Other countries are exerting great efforts in exploratory drilling with the hope of achieving self-sufficiency in oil and gas. Peru has reached the point of being an exporter instead of an importer. Argentina now produces more than 90% of the hydrocarbons it consumes. Oil represents 25% of foreign exchange achieved by Latin America. Of this amount crude oil represents 15%, petroleum products 9%, coffee 10%, and sugar 5%. Petroleum and its product represent the principal exports from Venezuela, Mexico, Ecuador, Trinidad, Bolivia, and Barbados. Crude oil production in Latin America, excluding Venezuela, showed an increase of 12.4% during the last 3 yr, with Argentina and Mexico accounting for 1,391,000 bpd or 69.1% of the total for the region.

• OSTI ID: 6802557
• Journal Information: Pet. Int.; (United States), Journal Name: Pet. Int.; (United States) Vol. 37:7; ISSN PTRIB
• Country of Publication: United States
• Language: Spanish

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
294002 -- Energy Planning & Policy-- Petroleum
ARGENTINA
BARBADOS
BOLIVIA
DEVELOPING COUNTRIES
DRILLING
ECUADOR
ENERGY SOURCES
ENERGY SUPPLIES
EXPLORATION
EXPLORATORY WELLS
EXPORTS
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GEOLOGIC DEPOSITS
ISLANDS
LATIN AMERICA
LESSER ANTILLES
MEXICO
MINERAL RESOURCES
NATURAL GAS
NORTH AMERICA
OIL WELLS
PERU
PETROLEUM
PETROLEUM DEPOSITS
PRODUCTION
RESOURCES
SOUTH AMERICA
TRINIDAD AND TOBAGO
VENEZUELA
WELL DRILLING
WELLS
WEST INDIES