Latin America is endowed with 132 billion barrels of “proven” oil. Venezuela, Brazil, Mexico, and Ecuador have significant reserves and strong state involvement in the exploration and production of oil through their nationalized companies PetrÛleos de Venezuela (PdVSA), Petrobras, Pemex, and Petroecuador, respectively. There have been several notable legal developments this year in all four nations, which will have consequences for U.S. energy policy and thus its relations with oil providers overseas.