Energy markets may face an upswing in Latin America

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Source: Marketwatch
Energy sector faced downward move in 2011 with energy stocks being lower worldwide. However, there are signs of recovery in Latin America. Global energy companies plan to boost spending on production and exploration by about 9%, especially concentrating on shale resources and deep-water projects, reported Dahlman Rose&Co. This move may stimulate Latin American energy sector as investors are likely to cooperate with local companies that have access to resources, expertise and exploration contracts.
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