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Unconventional trade-offs? National oil companies, foreign investment and oil and gas development in Argentina and Brazil

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  • Waterworth, Alec
  • Bradshaw, Michael J.

Abstract

These are turbulent and uncertain times for the global oil and gas industry. This paper examines the industry's emerging new political economy in terms of competition (or a trade-off) both between and within International Oil Companies (IOCs) for rival oil and gas prospects. A qualitative cross-case analysis of Argentinian shale and Brazilian deep-water finds that unconventional and deep-water projects are complementary rather than competing assets of an IOC's portfolio. Further, despite the technical challenges IOCs face in developing these reserves, it is the non-technical risks and uncertainties that are more pressing for these companies and are the greater inhibitors to investment.

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  • Waterworth, Alec & Bradshaw, Michael J., 2018. "Unconventional trade-offs? National oil companies, foreign investment and oil and gas development in Argentina and Brazil," Energy Policy, Elsevier, vol. 122(C), pages 7-16.
    • Handle: RePEc:eee:enepol:v:122:y:2018:i:c:p:7-16
    DOI: 10.1016/j.enpol.2018.07.011
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