Direct investment in petroleum ventures in developing countries: a review of risks and strategies

by Judith C. Fernandez

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This paper explores the impact of political risk on foreign direct investment in petroleum ventures in those developing countries that are not members of the Organization of Petroleum Exporting Countries. It coordinates and analyzes information from a variety of published sources concerning political risk and investment in petroleum projects, and focuses on the twin issues of whether direct investment in petroleum projects in developing countries has been significantly impeded by political risk considerations, and whether U.S. government policies can reduce either the risk or its impact. It concludes with suggestions for further research necessary before policy recommendations can be made.

This report is part of the RAND Corporation Paper series. The paper was a product of the RAND Corporation from 1948 to 2003 that captured speeches, memorials, and derivative research, usually prepared on authors' own time and meant to be the scholarly or scientific contribution of individual authors to their professional fields. Papers were less formal than reports and did not require rigorous peer review.

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