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  • When tracking international E&P activity, the only rule that holds true is to “expect the unexpected.” To that rule, one might add the following amendment: Every year, the unexpected becomes a little wackier and a little more creative. Just a year ago, few industry professionals and analysts would have been bold enough to predict the deep, long-lasting implosion of Venezuela’s political and economic structure, with all the accompanying E&P and export disruptions. Furthermore, with 9/11 still very fresh in the minds of US residents, even fewer pundits would have predicted that President Bush’s “War on Terrorism” would evolve so completely into a campaign against Iraq.


    Some regions thrive despite instability

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