OIL AND GAS FACTOR IN THE FOREIGN POLICY OF LATIN AMERICA
Authors: Tkach O. , Tsvykh V. , Khylko M. , Batrymenko O. , Nelipa D. 
Published: December 2019

Formulation of the problem. The authors analyze the current state and prospects for the development of the oil and gas complex and their role in the foreign policy of the Latin American states, policies of the use of oil and gas resources as a tool for enhancing influence in the region, as well as the functioning of multilateral oil supply agreements. The possibilities of realization of joint energy projects in Latin America are analyzed. The presence of oil and gas in the region has always been used as a political tool. The United States' reliance on Middle Eastern oil and the carbon emissions produced by the surging demand for fossil fuels in Asia tend to dominate discussions about the role of energy in U.S. foreign policy. But in recent years, the energy relationship between the United States and Latin America has perhaps become more important than other issues, as the largest share of the United States international trade and investment in the energy sector has occurred within the Western Hemisphere.

Purpose of the researchis to study the role of the oil and gas complex in the foreign policy of Latin American countries. The oil and gas complex plays an important role in the foreign policy of Latin American countries. The Latin American energy market is quite attractive to transnational energy companies due to the huge volumes of cheap energy resources, the consumer market with growing energy demand. The energy markets of the Americas are deeply integrated. Despite the shale boom, which led to a sharp increase in U.S. oil production and a drop in imports, the United States still relies on Latin America for more than 30 percent of the oil it buys from abroad. The gas and gas complex part of the geological section is characterized by a similar lithological composition and the underlying rocks, containing oil and gas in industrial volumes.

Research methods: The following research methods were used to address the issues set in the article: general scientific methods – descriptive, hermeneutic-political, systemic, structural-functional, comparative, institutional-comparative; general logical methods – empirical, statistical, prognostic modeling and analysis; special methods of political science. The preference was given to the method of political-system analysis, by which the common and distinctive characteristics of the basic components of immigration policy strategies were identified, reflecting existing political, public, information and other challenges for international relations and global development.

The article of analysis. Latin America, a growing importer of U.S. natural gas and the largest market for U.S., makes refined petroleum products, such as gasoline. American oil companies and utilities are big investors in Argentina, Brazil, Mexico, and Venezuela, helping to develop the energy resources of all those countries. In Brazil, the United States direct investment in oil and gas extraction reached $2,4 billion in 2015; in Mexico, the figure was $420 million. Washington's financing and technical cooperation programs have further helped the development of new energy resources in the region. U.S. institutions and funds back up clean energy investments and provide regulatory and technical guidance to tap the region's shale fields.