International sanctions on petroleum producing countries vis-à-vis private investmentsa comparison between Iran, Russia, and Venezuela

Resumo

As an industry that relies largely on capital, the oil and gas (O&G) sector inevitably has to contend with a wide range of risks.Consequently, host governments (which commonly own such resources) tend to encourage private investments in these sectors so as to protect public funds and interests and as a result, private investment is crucial in order for the O&G industry to survive. In addition, this industry deals with complex equipment, as well as highly skilled personnel and technology, all of which are required to achieve the best possible output in terms of standards, efficiency and maximum return from each production field. Prima facie, the O&G sector remains a major source of income for many O&G-producing countries in the world like Saudi Arabia, the United Arab Emirates or even the Caribbean twin-island Republic of Trinidad and Tobago, inter alia. It is made up of three major sectors: Upstream- this involves the exploration, drilling and extracting of O&G; Midstream- which involves the transportation, storing and processing of O&G and Downstream- which involves the refining and further transportation of O&G. All of these sectors within the O&G industry rely heavily on funds, in order to operate, which is generated through mostly private investments.

Ficha do documento

Tipo

Artigo científico

Ano

2023

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/38193

Temas

EconomiaDesenvolvimento Econômico

Palavras-chave

Indústria de petróleo e gásInvestimento privadoRisco financeiroPaíses produtores de petróleoEconomiaIndústria petrolífera