Data published by the Latin American and Caribbean Energy Organization (OLACDE) shows that by 2025, the Latin America and Caribbean region will contribute approximately 11 % of the world’s oil supply and nearly 6 % of its natural gas supply.

The report “Panorama 2025: Oil and Natural Gas Production and Foreign Trade in Latin America and the Caribbean (LAC)” revealed that “oil production in the region increased by 20 %” last year. Regarding the hydrocarbon sector, the report noted a boost from Guyana’s growth and Brazil’s continued leadership.

According to the document, seven countries account for 87 % of oil production in Latin America: Brazil, Mexico, Venezuela, Argentina, Colombia, Guyana, and Ecuador, each with a share exceeding 5 % of the regional total.

The list is distributed as follows: Brazil as the main regional producer, “reaching 3.77 million barrels per day (bpd); followed by Mexico, which registers 1.67 million bpd; leaving Venezuela in third place, with 1.08 million bpd.

Guyana’s oil production stood at 900,000 bpd, Argentina’s at 878,800 bpd, Colombia’s at 746,000 bpd, while Ecuador’s remained at 439,717 barrels of oil.”

M.Pino

Source: actualidad.rt

(Reference image source: Maria Lupan on Unsplash)

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The Inter-American Development Bank (IDB) released data on GDP per capita growth in Latin America and the Caribbean in the period 2014-2024, highlighting that it was almost zero.

According to the representative of the Inter-American Development Bank (IDB) Group in Peru, Tomás Lopes-Teixeira, in his presentation on October 10 for the Economic Commission for Latin America and the Caribbean (ECLAC), the region is affected by deep political polarization and lacks effective economic development policies.

However, the official mentioned a “general challenge and a historic opportunity that the region has to grow, despite its economic complexity and productive diversity.”

This challenge has to do with early investments in technology, indicating the relevance of having “entrepreneurial talent as a central axis of development, as well as informality, which represents a difficulty for SMEs to incorporate technology into their processes.”

According to Lopes-Teixeira, it is crucial to give the proper place to technological advances in the region today and to establish the technologies that will be used.

M.Pino

Source: finanzasdigital

(Reference image source: Alexander Mils in Unsplash)

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ECLAC indicated this Tuesday that the growth projection for Latin America and the Caribbean went from 1.8 to 2.7 %, which shows a slight increase. The agency gave details of GDP expansion on Tuesday when announcing forecasts for economic growth in the region.

During the presentation of the report, ECLAC made it clear that Latin America is still facing a series of crises that have undermined its growth. This, together with other factors, such as the increase in inflation on the world stage, the depreciation of the currency in various countries, and the application of economic sanctions, have resulted in a brake on growth.

Daniel Titelman, Director of Economic Development at ECLAC, has described the outlook as a “very difficult situation” because current conditions anchor the region to “a trend and a low growth trajectory that was already observed before the pandemic very strongly”.

Regarding the projected growth rate for South America, this is estimated at 2.6 %, where Venezuela tops the list with 10 %. For Central America, a growth of 4.1 % is expected, where Panama has 7 %. And, finally, for the Caribbean a growth of 10.2 % is expected, “although this subregion reaches 4.7 % if Guyana (52%) is excluded.”

M.Pino

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Source: noticiasaldiayalahora

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