Hydrocarbons: Investments and corporate strategies in Latin America and the Caribbean

The petroleum industry was one of the first activities to become globalized in terms of both trade and foreign direct investment. Founded in the United States in the mid-nineteenth century, the industry expanded globally following the replacement of coal as a source of energy and the discovery of vast deposits in the countries of the Middle East. Transnational corporations, lured by the bright prospects for the fuel market created by the development of the automotive industry in the early part of the twentieth century, soon became involved, leading to further globalization of the sector.

Sustainable Development Goals:

Decent Work and Economic Growth