Energy Security and Latin American NOC

Abstract

There are two strategies to obtain energy security in the international energy market; the first emphasizes the role of market forces and the second champions the role of national oil companies (NOCs) in the energy market.

This article presents cases studies of Latin American's NOCs to provide lessons regarding the formulation of energy security policy. The findings are that some NOCs in Latin America operate with an enterprise orientation whereas others operate under governmental agendas with noncommercial priorities.

Keywords:

• energy market
• energy policy
• energy security
• international oil company
• national oil companies