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

Abstract

A note on versions:The version presented here may differ from the published version or, version of record, if you wish to cite this item you are advised to consult the publisher's version. Please see the 'permanent WRAP url' above for details on accessing the published version and note that access may require a subscription.For more information, please contact the WRAP 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.

The discursive politics of ‘fracking’: Frames, storylines, and the anticipatory contestation of shale gas development in the United Kingdom

“…However, in distinction to the UK, Argentinian frames focus more on trade-offs with irrigation and agriculture (Rosa and D'Odorico, 2019). Argentinian frames are also much more concerned about 'political risk' and economic 'turbulence', given the country has a less certain political and regulatory environment than other shale gas regimes such as those in Europe (Waterworth and Bradshaw, 2018).…”

Institutional quality and resource-based economic sustainability: the mediation effects of resource governance

“…According to Waterworth and Bradshaw ( 2018 ), RES refers to efficient and effective utilization of resources with the multidimensional benefits in terms of social, economic, and environment. The concept has been linked with the ability of resource hosting countries to steer their sustainable development through proper exploitation of their natural resources (Van der Ploeg 2011 ; Kirshner and Power 2015 ).…”

“…Based on the sustainability perspective, the resource-based economic sustainability (RES) refers to an economy characterized by efficient and effective utilization of resources that holistically results into social, economic, and environmental benefits (Waterworth and Bradshaw 2018 ). It involves designing the policies that help striking the balance between economic growth, social prosperity, and environmental preservation for the multi-generational benefits (Amiri et al 2019 ).…”

Contract Structure of Production Sharing Agreement by International Oil Company in Exploration of Petroleum Resources in Developing Countries

“…The exploration and development of petroleum resources present enormous opportunities for the economic growth of many developing countries (Radon, 2005). At the same time, it offers various risks, constraints, and technical challenges for these countries too [1]. Typically, many developing countries suffer from the resource curse, among other related issues, when dealing with the production of petroleum resources, compared to countries less rich in oil [2] due to their over-dependence on oil as a form of national revenue [3,4].…”

“…Typically, many developing countries suffer from the resource curse, among other related issues, when dealing with the production of petroleum resources, compared to countries less rich in oil [2] due to their over-dependence on oil as a form of national revenue [3,4]. Evidence of the poor economic performance of some oil-rich developing countries has given their huge return on oil profit [1]. A critical issue that continues to inhibit the economic development of these countries despite their resource wealth.…”