Introduction

Bolstered by the sustained escalade of oil prices for the past few years in the international markets, the governments of certain Latin-American countries have taken dramatic measures aimed at significantly reducing the possibilities of private participation in oil projects, increasing the government take in the same and closing doors to the settlement of disputes through internationally recognized institutions such as the International Centre for Settlement of Investment Disputes ("ICSID"). Even though the impact varies depending on the case, it cannot be denied that, ...