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Latin American oil

Preliminary results from Mexico's first oil and gas auctions in nearly 80 years are promising—but pitfalls abound.

The Argentine government announced on Monday that it would allow oil companies that invest at least $1 billion over five years to explore the Vaca Muerta oil field and to export, tax free, up to 20 percent of the crude and natural gas they produce in the country.

Venezuela’s state-owned oil company PDVSA will have to import at least six shipments of gasoline and other refined petroleum products to meet local demand due to production stoppages at key local refineries.

With new energy alternatives still decades away, the hemisphere's oil reserves remain crucial.