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How important are national companies for oil and gas sector performance? Lessons from the Bolivia and Brazil case studies

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  • Paz Antolín, María José
  • Ramírez Cendrero, Juan Manuel

Abstract

Control of natural resources, especially oil and gas, has been a major issue in the consideration of underdevelopment. In the present commodity boom, some Latin American economies are reforming their resource exploitation regimes, especially those issues linked with foreign capital share. The purpose of this report is to analyze these changes in the Bolivian and Brazilian oil and gas sectors in order to answer such questions as: Which property system combining public and private capital is the most suitable? Which regulating framework can guarantee a sustainable increase in output and investment? Our analyses lead to the conclusion that the regulatory framework can establish a particular ownership structure that is considered favorable for improving the performance of oil and gas sector, but the internal dynamics and the historical trajectories of enterprises will also be determining factors that interact with the given regulatory framework, generating mixed results.

Suggested Citation

  • Paz Antolín, María José & Ramírez Cendrero, Juan Manuel, 2013. "How important are national companies for oil and gas sector performance? Lessons from the Bolivia and Brazil case studies," Energy Policy, Elsevier, vol. 61(C), pages 707-716.
    • Handle: RePEc:eee:enepol:v:61:y:2013:i:c:p:707-716
    DOI: 10.1016/j.enpol.2013.05.126
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    References listed on IDEAS

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    1. Iglesias, Enrique V., 2006. "El papel del Estado y los paradigmas económicos en América Latina," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    2. Rodrik, Dani, 2001. "Development strategies for the next century," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 33124, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    Cited by:

    1. Mendes, Pietro A.S. & Hall, Jeremy & Matos, Stelvia & Silvestre, Bruno, 2014. "Reforming Brazil׳s offshore oil and gas safety regulatory framework: Lessons from Norway, the United Kingdom and the United States," Energy Policy, Elsevier, vol. 74(C), pages 443-453.
    2. Trojbicz, Beni & Loureiro, Maria Rita, 2018. "Brazilian oil sector reforms: The role of technical know-how and corporate ethos in Petrobras's dominance," Energy Policy, Elsevier, vol. 118(C), pages 588-595.
    3. Sharma, Sunil & Sud, Mukesh, 2019. "Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector," Energy Policy, Elsevier, vol. 131(C), pages 33-42.
    4. de Aguiar, Thereza R.S. & Freire, Fatima de Souza, 2017. "Shifts in modes of governance and sustainable development in the Brazilian oil sector," European Management Journal, Elsevier, vol. 35(5), pages 701-710.

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