Leaders of regional energy associations warned that the main barrier to attracting investment is not the global environment, but rather the lack of predictability, competitiveness, and domestic consensus, at a time when Latin America’s energy potential has yet to translate into sustained development. The remarks were made during the third day of the ARPEL Conference 2026 in Buenos Aires.

Frank Pearl, President of the Colombian Association of Oil and Gas (ACP), stated that “national sovereignty is largely defined by energy sovereignty” and warned that “in some countries, we had lost the battle over the political narrative.” Along the same lines, Luz Stella Murgas, President of Naturgas, noted that uncertainty is “closely linked to the rules of the game,” while Roberto Ardenghy, CEO of the Brazilian Petroleum, Gas and Biofuels Institute (IBP), stated that “the industry is very strong and well prepared” and that the energy transition “is not solely an environmental phenomenon, but also an economic one.”

From Argentina, Ernesto López Anadón, President of IAPG, emphasized that “we must be extremely competitive” and that the key issue is “respect for investors.” Felipe Cantuarias, President of the Peruvian Hydrocarbons Society (SPH), warned that political instability hinders development, while Raúl García Carpio, Head of Hydrocarbons at Peru’s National Society of Mining, Petroleum and Energy (SNMPE), cautioned that “the national energy policy has not been updated since 2010.” Overall, the panelists agreed that without stable rules, legal certainty, and a long-term vision, the region will struggle to translate its energy potential into concrete investment. They also noted that in countries where the right formula is being applied, results are already materializing—particularly in Argentina and Brazil.

GLOBAL RISKS AND REGULATORY PRESSURES SHAPE THE ENERGY LANDSCAPE

Global industry leaders agreed that the world is facing a period of heightened geopolitical and regulatory risk, requiring continued investment in both hydrocarbons and emerging technologies. Carlos Garibaldi (Arpel) challenged simplistic approaches by stating that “reduction is not the solution,” while Elizabeth Komiskey (IOGP) called for a more practical approach focused on ensuring access to energy.

Jennifer Miskimins (SPE) warned that “we are experiencing these risks right now,” pointing to an increasingly unstable environment, while Andrea Stegher (International Gas Union) called for realistic regulations and defended sustainability as a means of “reducing poverty through energy.” Brian Sullivan (Ipieca), meanwhile, cautioned about political volatility and emphasized the need to recalibrate investments, stressing that the role of energy in driving progress cannot be underestimated. Overall, the panel agreed that energy security, regulatory stability, and pragmatism will be essential to navigating an increasingly uncertain global environment.

ARTIFICIAL INTELLIGENCE: ENERGY, WORK, AND PROFITABILITY

Delfina Arambillet of Globant warned that the rapid advancement of artificial intelligence presents the energy sector with a dual challenge: meeting rising energy demand while ensuring that AI adoption generates real business value. She noted that although 88% of companies are already using AI, only 39% report an impact on profitability—and a limited one at that—highlighting implementation challenges rather than issues of access. In this context, Arambillet stressed the need to deploy AI with a clear strategy, robust governance, and ethical principles. She also warned that the rapid advancement of AI is forcing a redesign of work itself, with humans increasingly focused on overseeing systems, while many companies still lag behind in adapting their operating models to fully capture its potential.

THE FUTURE OF WORK: YOUTH, UNIVERSITIES, AND COMPANIES

The education and employment of new professionals in an energy sector undergoing profound technological transformation were discussed across three panels featuring the perspectives of universities, companies, and young professionals. The sessions brought together academic representatives from five universities, talent management leaders, and emerging professionals, who shared their views on the technological and cultural challenges shaping the future of work in the industry. One of the panel’s main conclusions was: “Young people are not just looking for a job; they are looking for a purpose.”

CLIMATE RISKS: MANAGEMENT, STRATEGY, AND RESILIENCE

Energy companies across the region are accelerating the integration of physical climate risks into their operations, with a focus on extreme rainfall, droughts, and infrastructure degradation, according to Diego Agrelo (YPF), Andrés Mendizábal (TGP), Geonavis Hernández (Ecopetrol), and Laura Kennett (Grupo Rosen) during a panel moderated by Irene Alfaro.

The panelists agreed that operational resilience requires integrating data, planning, and investment decisions, while prioritizing material risks and strengthening monitoring, forecasting, and response capabilities. Among their main recommendations were institutionalizing climate risk management across the organization, involving senior leadership, improving the quality and availability of data, and using these analyses as management tools to ensure operational continuity in an increasingly challenging climate environment.

In a noteworthy presentation, Sandra Carrillo, Partner at ERM, argued that climate risks have already become a strategic factor for the energy sector, influencing competitiveness, access to financing, and business decision-making, in a context where extreme weather events are generating rising costs and affecting indicators such as EBITDA, CAPEX, and cost of capital. “This is not a future projection; it is a measurable reality,” she stated.