Book contents
- Local Content and Sustainable Development in Global Energy Markets
- Reviews
- Treaty Implementation for Sustainable Development
- Local Content and Sustainable Development in Global Energy Markets
- Copyright page
- Contents
- Preface and Acknowledgements
- Abbreviations
- Editor
- Contributors
- Part I Introductory Context and Principles
- Part II Case Studies
- 6 Expressing Local Content through Black Economic Empowerment in the South African Petroleum Industry
- 7 Local Content Frameworks for Petroleum Industry Operations in the CEMAC Region: An Evaluation of Their Functionality, Sustainability and Normative Underpinnings
- 8 Local Content, Angolanização, and Sustainable Development in Angola
- 9 Local Content and the Sustainable Development of Oil and Gas Resources in Nigeria
- 10 Local Content Requirements and Treaty Implementation in Kenya’s Petroleum Sector
- 11 Sustainability and Local Content Requirements in Australian Oil and Gas Development: Has the Ship of Opportunity Sailed?
- 12 Local Content for Sustainable Development in Middle East and North Africa: Current Legal Approaches and Future Directions
- 13 Local Content and Sustainable Development in Norway
- 14 Local Content and Sustainable Development in Argentina
- 15 The Latin American Experience in Designing Local Content Policies in the Oil and Gas Sectors: Strengths, Limitations, and Future Perspectives
- 16 Local Content and Sustainable Development in Brazil
- 17 Industrial Policy and Local Content Rules in US Energy Policy
- 18 Oil and Gas Sector Local Content Decision Processes: Canadian Indigenous Participation
- Part III Lessons Learned and Future Directions
- Index
15 - The Latin American Experience in Designing Local Content Policies in the Oil and Gas Sectors: Strengths, Limitations, and Future Perspectives
from Part II - Case Studies
Published online by Cambridge University Press: 05 March 2021
- Local Content and Sustainable Development in Global Energy Markets
- Reviews
- Treaty Implementation for Sustainable Development
- Local Content and Sustainable Development in Global Energy Markets
- Copyright page
- Contents
- Preface and Acknowledgements
- Abbreviations
- Editor
- Contributors
- Part I Introductory Context and Principles
- Part II Case Studies
- 6 Expressing Local Content through Black Economic Empowerment in the South African Petroleum Industry
- 7 Local Content Frameworks for Petroleum Industry Operations in the CEMAC Region: An Evaluation of Their Functionality, Sustainability and Normative Underpinnings
- 8 Local Content, Angolanização, and Sustainable Development in Angola
- 9 Local Content and the Sustainable Development of Oil and Gas Resources in Nigeria
- 10 Local Content Requirements and Treaty Implementation in Kenya’s Petroleum Sector
- 11 Sustainability and Local Content Requirements in Australian Oil and Gas Development: Has the Ship of Opportunity Sailed?
- 12 Local Content for Sustainable Development in Middle East and North Africa: Current Legal Approaches and Future Directions
- 13 Local Content and Sustainable Development in Norway
- 14 Local Content and Sustainable Development in Argentina
- 15 The Latin American Experience in Designing Local Content Policies in the Oil and Gas Sectors: Strengths, Limitations, and Future Perspectives
- 16 Local Content and Sustainable Development in Brazil
- 17 Industrial Policy and Local Content Rules in US Energy Policy
- 18 Oil and Gas Sector Local Content Decision Processes: Canadian Indigenous Participation
- Part III Lessons Learned and Future Directions
- Index
Summary
Policy-makers in many oil and gas producing countries have considered local content policies to be an attractive option to enhance the externalities of the petroleum sector beyond the fiscal rent generated by raw material exports. This chapter investigates the extent to which local content requirements (LCRs) have contributed to overall sustainable development in oil and gas producing countries in Latin America. To do so, it examines local content frameworks and their outcomes in six countries in the region.
We identify four key factors for the successful design and implementation of local content policies: (i) the role of specificity of local content frameworks; (ii) the role of national oil companies;(iii) the role of capability building programmes and opportunities for learning by doing for long-run competitiveness; (iv) and the role of regional cooperation to foster industrial complementarities and maximise economies of scale.
A strategic national and regional approach to local content policies is thus needed to gradually increase the capabilities and competitiveness of local suppliers in the long run. This chapter provides policymakers in Latin America, and elsewhere, with insights and perspectives on how local content strategies can be improved to promote sustainable development and diversification further.
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- Publisher: Cambridge University PressPrint publication year: 2021