$3 trillion in Latin American oil assets are at serious risk due to lacking energy transitions

Early this year, the World Bank named Iraq, Libya, Venezuela, Equatorial Guinea, Nigeria, Iran, Guyana, Algeria, Azerbaijan, and Kazakhstan as the most vulnerable oil-producing nations due to their high exposure to the oil and gas sector and relative lack of diversification. Latin American economies are, however, not much better off due to their high reliance on oil and lack of a clear roadmap in the global energy transition.