March 5, 2018
China, Oil, and Latin America: Myth vs. Reality
By Patricia I. Vasquez
Over the past ten years, Chinese companies and policy banks have steadily invested and lent hundreds of billions of dollars in Latin America's oil and gas sector. China's leaders have been pressured to secure energy resources because of stagnating domestic oil production coupled with rapid growth in consumption. Latin America's growing proven oil reserves have made it an attractive partner for China. The rise in capital flowing from China to the energy sector in Latin America, plus the lack of transparency around the deals however, has led to a rise in myths about the true motivation behind China's intentions. This report seeks to uncover the facts of Chinese investment and lending deals in the Latin American energy sector, explains what is reality and what are myths, and provides pointed recommendations of how all parties can help shape a better energy cooperation.
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