State capacity, development ideas, and identity: the shifting bargains in post-2014 oil contracts

Antulio Rosales

Chapter 12 in Handbook of Resource Nationalism, 2026, pp 184-198 from Edward Elgar Publishing

Abstract: This chapter analyzes new oil contracts in the post-2014 oil price downturn in producing nations of the Americas. The chapter explains how state–company arrangements differ based on the degrees of state capacity that these countries have in dealing with foreign oil companies, and it argues that the role of development ideas is crucial in shaping state–company relations. Guyana's relative inexperience in the oil business, internal divisions, and geopolitical tensions led to lopsided arrangements in favor of foreign capital, garnering discontent from social movements. Mexico's legacy revolutionary resource nationalism cast a significant shadow in its policy reforms, rendering them unsuccessful in boosting production. Brazil emerges as an example where hybrid forms of state strategic direction and openness to foreign capital have allowed the government to enact policies of oil developmentalism and negotiate active participation in contracts.

Keywords: Resource Nationalism; Production Sharing Contracts; Offshore Drilling; Guyana; Mexico; Brazil (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035333431
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