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

Alec Waterworth and Michael J. Bradshaw

Energy Policy, 2018, vol. 122, issue C, 7-16

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.

Keywords: Oil and gas; Foreign direct investment; Political economies; Non-technical risks (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1016/j.enpol.2018.07.011

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