Desarrollo energético en América Latina y la economía mundial

Professor Abbas Alnasrawi / ENERCoY AND THE DEVELOPING COUNTRIFS fifty-third meeting (March, 1979) the OPEC Conference examined the issue of guaranteeing the requirements of developing countries and decided that member countries would take steps to instruct lifting companies to guarantee the quantities supplied to developing coun– tries. As to the issue of finance, it has already been mentioned that OPEe countries have adopted various mechanisms for the channeling oí financial resources to developing countries to help them cope with balance of payments and development finance requirements. In the foIlowing paragraphs the issues of financing energy resource develop– ment in the non.OPEC developing countries will be undertaken before making a brief examinatíon of the question of conservatíon in these countries. Financing Energy Development. It was stated earlíer that given an annual rate of economic growth of 5.9% for non"ÚPEC oil exporting countries and an annual rate of economic growth of 5.8% for the olOe the World Bank has projected that by 1985 the first group (the net exporters) will have a net oi1 export of 3.7 MBD (compared with 1.2 MBD in 1975) and that the second group (orDe) will have to import 4.4 MBD in 1985 (compared with 3.1 MBD in 1975) . In order to achieve these exports and imports targets the former group is projected to produce 5.6 MBD in 1985 (com– pared with 2.4 MBD in 1975) and the omes are projected to produce 2.9 MBD in 1985 (compared with 1.2 MBD in 1975). But in order to finance exploration needs and capital requirements for the develop– ment of petroleum resources (both oil and gas) to meet the projected needs by 1985 these countries will need a total of $ 68.5 billion for the period 1976 to 1985. This means that these countries will have to have access to $ 6.85 billion per year (in 1977 dollars) to meet their projected goals in production and consumption. In terms of breakdown between investment in crude oil and natural gas, it has been estimated that of the grand total $ 68.5 billion, $ 12.2 billion will be invested in natural gas and $ 56.3 billion will be invested in oil. As to the distribution of funds between oil exporters and oi! impor– ters, the projections indicate that the first group will need $ 28.9 billion, while the second group will need $ 39.6 billion of a total of $ 56.3 billion. It should be noted that of the $ 56.3 billion required for invest– ment in the oi1 sector, $ 39.5 billion is required for exploratíon, deve- 41