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For the past ten years, BSSL has wanted to develop lucrative South American oil reserves for its exploration, drilling, refining, and transport division; BSSL's Oil Division has been limited in prior years to Siberia and the South China Sea and was precluded from entry into the oil business in Iraq by United States law and U.N Sanctions.

Discuss whether the present political situations in South America will present new opportunities for BSSL to expand into the South American marketplace, address the legal and ethical risks and benefits, both short term and long term, of attempting to do so, and identify the government(s) and/or organization(s) with whom BSSL should deal should the company embark on a business venture in South America.

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This response addresses the queries posed in 443 Words, and APA references


Legal Environment

South America forms a part of the continent of America, located completely in the Western Hemisphere and its small portion lies in the Northern & Southern Hemisphere.

Political situation in South America

In South America, restructuring has taken place in the oil industry. The important aspect of the restructuring process involves the presenting mineral rights in the upstream section. Different patterns have been observed in the processes related to the market deregulation, in spite of related policies in South America. The most important aspect in this sector is the availability of international private capital. In the countries of South America, internal strikes and economic loss are the major cause of building uncertainty in the political situation ...

Solution Summary

Legal and ethical risks