Fossil energies: Oil and gas companies invest billions in Latin America

President Lula (center) attended a Petrobras ceremony in Rio de Janeiro in early July 2025 to announce new investments by the state-owned company. On stage with him: Petrobras CEO Magda Chambriard (left) and Energy Minister Alexandre Silveira. (Imago/Fotoarena/Carlos Elias Junior)

In the past three years, corporations have invested more than 28 billion US dollars in the exploration of new oil and gas reserves in Latin America and the Caribbean. Brazil's state-owned Petrobras is one of the leading investors – despite promises of climate-friendly restructuring. Two interactive tools show the details.

Alexandra Endres

Last updated: 02. October 2025

Fossil investments Oil industry Latin America Climate in figures Fossil fuels

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Fossil energies: Oil and gas companies invest billions in Latin America

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