As was to be expected, BNamericas’ 2016 Oil and Gas Survey paints a fairly dismal picture of the hydrocarbons business in Latin America. The price of oil remains low and is highly unpredictable, spending is down, and the general perception of the attractiveness of the industry is lower this year than in any of the previous years we have conducted the survey. But within the results, a few noteworthy trends emerge, including the rise of Argentina as a place of interest, dropping costs and continued belief in the longer term importance of the region as a key global supplier.
The survey received 90 responses from executives representing 20 countries in Latin America and the Caribbean. Representatives from oil and gas companies (35%) and service providers (32%) formed the largest proportion of survey takers, which also included professionals from consultancies, NGOs, regulatory agencies and engineering rms.