Ceased to be insignificant. What country is this?
-I begin this analysis by congratulating a South American country on its great financial rise in recent years.
-Until recently, this unknown and small country was not even noticed in the local scene. Due to the most recent discoveries regarding its energy potential (oil), things are changing, and this small country has attracted the attention of the big oil producing countries, more precisely the OPEC cartel.
-Its meteoric rise has made the country the fastest growing oil producer in the world. If things continue to evolve, the small and “prosperous country” could become a huge headache for the cartel, so much so that we had the Saudi energy minister, Abdulaziz bin Salman, and Haitham al-Ghais, secretary general of OPEC, inviting the rookie to join the cartel in recent months, however, the invitation was declined.
-The country's justification for the refusal is as follows: “We need to maximize production and profits in the short term, as the demand for oil should decline in the coming decades. At the moment, our idea is to get the most of these resources out of the soil and as quickly as possible, because we are not sure of the window that we will have in the future", said the vice president of the country.
-He also pointed out that if the country joined the cartel, it would risk becoming indebted to the other producing countries, as its members always want to reduce global production to keep prices high, going against the grain of the country's main idea. “Our plans are to increase oil production by 1 million barrels per day by the year 2028”.
-Exxon Mobil and some partners have been exploring the region since 2015, and around 30 major discoveries have been made. Estimates are around 11 billion barrels of oil equivalent available for exploration. The country has become Exxon Mobil's main target, and investment efforts by foreigners have already reached the order of US$ 40 billion.
-As its oil production grows, its domestic economy also expands and investments from abroad are flowing into savings in infrastructure projects, such as the expansion of electricity grids and ports to support the intense and growing flow of exports.
-The growth of the oil sector in the country triggered a large flow of trade and attracted investments in hotels, restaurants and department stores. The IMF estimates that the country's GDP could grow by around 37% in 2023
-Another factor of great importance for the country is the increase in its presence on the global stage, and with that the country was elected a non-permanent member of the UN Security Council. A great achievement!
-If you reached the end of this text, will you be able to answer which country I am referring to? Let's test your ability to observe events that can generate good results... Lol!
-Worth a read!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!
-Until recently, this unknown and small country was not even noticed in the local scene. Due to the most recent discoveries regarding its energy potential (oil), things are changing, and this small country has attracted the attention of the big oil producing countries, more precisely the OPEC cartel.
-Its meteoric rise has made the country the fastest growing oil producer in the world. If things continue to evolve, the small and “prosperous country” could become a huge headache for the cartel, so much so that we had the Saudi energy minister, Abdulaziz bin Salman, and Haitham al-Ghais, secretary general of OPEC, inviting the rookie to join the cartel in recent months, however, the invitation was declined.
-The country's justification for the refusal is as follows: “We need to maximize production and profits in the short term, as the demand for oil should decline in the coming decades. At the moment, our idea is to get the most of these resources out of the soil and as quickly as possible, because we are not sure of the window that we will have in the future", said the vice president of the country.
-He also pointed out that if the country joined the cartel, it would risk becoming indebted to the other producing countries, as its members always want to reduce global production to keep prices high, going against the grain of the country's main idea. “Our plans are to increase oil production by 1 million barrels per day by the year 2028”.
-Exxon Mobil and some partners have been exploring the region since 2015, and around 30 major discoveries have been made. Estimates are around 11 billion barrels of oil equivalent available for exploration. The country has become Exxon Mobil's main target, and investment efforts by foreigners have already reached the order of US$ 40 billion.
-As its oil production grows, its domestic economy also expands and investments from abroad are flowing into savings in infrastructure projects, such as the expansion of electricity grids and ports to support the intense and growing flow of exports.
-The growth of the oil sector in the country triggered a large flow of trade and attracted investments in hotels, restaurants and department stores. The IMF estimates that the country's GDP could grow by around 37% in 2023
-Another factor of great importance for the country is the increase in its presence on the global stage, and with that the country was elected a non-permanent member of the UN Security Council. A great achievement!
-If you reached the end of this text, will you be able to answer which country I am referring to? Let's test your ability to observe events that can generate good results... Lol!
-Worth a read!
-Do your analysis and good business.
-Be Aware, If You Buy, Use Stop!
-See below for other graphic reviews!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.