Argentina - 03

Argentina: OECD Calls for Central Bank Autonomy as Macri Eyes Membership

Argentina’s central bank continues to make headlines regarding monetary policy and inflation, as well as its independence. The recent appointment of a new director, Enrique Szewach, added to this attention; he replaced Pedro Biscay, who had been removed for “misconduct.” Biscay had drawn the ire of President Mauricio Macri’s team for publicly deriding the administration’s

Mozambique - 02

Mozambique: Upcoming Local Content Law: Unnecessary, but in Tune with Public Expectations

The Mozambican government is keen to ensure that the lucrative oil and gas sector develops links with the wider economy. Therefore, the Council of Ministers will consider a new local content law, under development for some time, “in due course.” At an oil and gas conference in Maputo in July, Vasco Nhabinde, the director of

South Africa - 06

South Africa: Ramaphosa Campaign Gains Momentum

Ramaphosa appears to be gaining the advantage in his bid to succeed Zuma as ANC president. With less than five months to go before the ANC national conference in December, Ramaphosa is building on the Zuma camp’s failure to secure the advantage and key concessions at the July ANC policy conference. However, Ramaphosa still has

Brazil - 04

Brazil: Temer Breathes Easier as Congress Blocks Criminal Charge

Last week, the Chamber of Deputies voted to prevent the corruption charge against Temer from advancing to the Supreme Court for consideration. 263 deputies voted in favor of Temer, while 227 voted against him. (At least two thirds of the lower house was required in order to push the criminal charge forward.) Ever since the

Mexico - 05

Mexico: Pemex’s High Profits Tarnished by Corruption Allegations

On 27 July Pemex submitted its third consecutive quarterly report showing net profits. In the first half of 2017 the company made $6.78bn in profits. This was enormous turnaround from 14 years of losses, including the $8.15bn in losses that Pemex recorded during the first half of 2016. While these new figures are certainly positive,

Kazakhstan - 04

Kazakhstan: Outlook for KazTransOil’s Transformation: No Major Reforms in Sight

In late July, a Karaganda court issued a guilty verdict for 11 suspects accused of stealing oil from a KTO pipeline and the Kazakhstan-China Pipeline Company (an entity partly owned and operated by KTO). While the precise damage is still being calculated, the perpetrators stole tens of thousands of dollars’ worth of crude by cutting