For decades, the petroleum industry in South America has been dogged by one environmental catastrophe after another. Oil spills, flaring and other environmentally damaging incidents are commonplace and have been so for years. This has weighed heavily on the petroleum industry’s social license in many countries with it seemingly locked in an ever-present state of crisis in Ecuador and Peru. It is the near failure of the Venezuelan state and collapse of PDVSA’s petroleum infrastructure which has sparked an environmental catastrophe…
