Can Uruguay Strike Black Gold? Offshore Drilling in Focus

After decades of developing its renewable energy capacity, Uruguay is now looking to explore for oil and gas, having made no successful discoveries in the past. New hopes of offshore reserves have encouraged the government to welcome foreign oil majors into its waters to explore for crude, despite the potentially harmful environmental implications of these activities.  Uruguay is located between Brazil, Argentina, and the South Atlantic Ocean. It has a population of around 3.4 million people and, despite being one of Latin America’s…