Brazil

Global energy, Latin America: the choices that countries made when they entered the 21st century will determine how they enter the 21st century. These choices are still being made. In Latin America, the four countries of most interest:

• Venezuela:
• Mexico: taking the road to Venezuela; already logistical problems showing up under new administration -- RBN Energy;
• Argentina: Exxon Mobil proceeds with expansion project in the Vaca Muerta basin -- WorldOil.
• Brazil: Petrobras to boost five-year investment plant to $105 billion -- Reuters.

Petrobras (from link above):

• will invest $105 billion over five years to 2023
• will divest assets worth $35 billion
• previously:
• investment program stood at $84 billion
• divestments were planned at $27 billion
• the new Brazilian government has "ambitious privatization" plans
• Petrobras has ruled out a Petrobras privatization but looks to sell non-core assets of the company to reduce its massive net debt of $73 billion (3Q18)
• Petrobras is the world's most indebted listed oil company
• Pemex is not "listed"

Proven oil reserves (BP 2019 statistical review). Link here:

• 12.8 billion bbls (0.8% of world total)
• daily production: 2.7 million bbls
• 5-year oil production change: +27.5%
• [North Dakota at 1.5 million bopd x 10 years =  5,475 million bbls or 5.5 billion bbls]
• [North Dakota at 1 million bopd average from 2010 to 2019 (10 years) = 3.65 billion bbls]