Mexican state-owned oil giant Pemex dominates its nation’s oil industry, but it’s also the world’s most indebted company. The global oil crisis, in part triggered by the covid-19 pandemic, spells disaster for the government’s controversial plans for the industry, but more private sector involvement could be the silver lining to come.
Argentina’s lockdown measures in response to covid-19 have stalled the construction of many renewables projects, leading developers to miss their targets. Pérez Alati, Grondona, Benites & Arntsen (PAGBAM) senior partner and energy head Francisco Romano and senior associate Tomas Fernandez Madero consider the applicability of force majeure under power-purchase agreements in such circumstances
A Bofill Mir & Alvarez Jana Abogados partner has left the firm to join former colleagues at Lembeye Abogados and lead its natural resources practice in Santiago.
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Global law firm Linklaters has strengthened its Latin America group by promoting an energy and infrastructure counsel to partner in New York.
Less than six months ago, Argentina’s world-class shale play, Vaca Muerta, was booming. Since then covid-19 has hit Argentina, oil prices have nosedived, and lockdown measures have made companies close wells and stop new drillings. In preparation for the day after coronavirus, Martínez de Hoz & Rueda partner José Martínez de Hoz considers what Argentina should do to put Vaca Muerta and Argentina back on track.
Chile’s Prieto has strengthened its corporate and project finance practices by promoting an associate to partner.
Key partners: Practice head José Roberto Martins, who is well regarded for his power work; Danielle Valois and Anna Mello, who are active figures in the oil and gas industry; Joaquim Muniz, who is known for his broad experience. Martins and Valois come recommended in LACCA Approved.
An internal company proposal has suggested a restructuring of Venezuelan state-owned oil company PDVSA, which would privatise various company assets and allow private investors to hold larger shares in oil fields. While this pitch is welcomed by the legal and business community, there is a long list of economic, legal and political hurdles that must be overcome before anything can be put into practice.
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