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Emerging MarketsEM LatAm

LatAm oil giants keep up capex in strikingly different circumstances

PDVSA Venezuala

Latin America’s three largest oil companies are maintaining hefty investment programmes in spite of tumbling oil prices, thanks to their low production costs and comfortable profit margins. Yet that is about as far as the similarities go for Venezuela's PDVSA, Brazil's Petrobras and Mexico's Pemex.

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