COUNTRY OVERVIEW
President: Ricardo Lagos (since March 2000)
Independence: September 18, 1810 (from Spain)
Population (2002E): 15.7
Location/Size: Southern South America/757,000 sq km (292,000 sq mi), slightly smaller than twice the size of Montana
Major Cities: Santiago (capital), Concepción, Valparaíso, Antofagasta, Puerto Montt, Punta Arenas
Languages: Spanish
Ethnic Groups: White and White-Amerindian 95%, Amerindian 3%, other 2%
Religions: Roman Catholic (89%), Protestant (11%)
Defense (8/98E): Army (51,000), Air Force (13,500), Navy (30,000), Paramilitary Security Forces (29,500)

ECONOMIC OVERVIEW
Minister of Finance: Nicolas Eyzaguirre Guzman
Central Bank President: Carlos Massad
Currency: Peso
Market Exchange Rate (08/13/03): US$1 = 723 Pesos
Nominal Gross Domestic Product (GDP, 2002E): $66.2 billion (2003F): $68 billion
Real GDP Growth Rate (2002E): 2.1% (2003F): 3.1%
Inflation Rate (consumer prices, 2002E): 2.5% (2003F): 3.4%
Major Export Products: Copper, cellulose, chemicals, salmon, wood products, mollusks, wine
Major Export Destinations: United States, Japan, United Kingdom, China
Major Import Products: Raw materials excluding petroleum, crude petroleum, capital goods, consumer goods
Major Import Origins: United States, Argentina, Brazil, China
Unemployment Rate (2002E): 7.7%
Trade Balance: (2002E): $2.5 million (2003E): $2.6 million
Total Foreign Debt (2002E): $34.2 billion (2003E): $34.1 billion

ENERGY OVERVIEW
Minister of Mining and Energy: Jorge Rodriguez Grossi
Proven Oil Reserves (1/1/03E): 150 million barrels
Oil Production (2002E): 14,000 barrels per day (bbl/d)
Oil Consumption (2002E): 240,000 bbl/d
Net Oil Imports (2002E): 226,000 bbl/d
Natural Gas Reserves (1/1/03E): 3.5 trillion cubic feet (Tcf)
Natural Gas Production (2001E): 40 billion cubic feet (Bcf)
Natural Gas Consumption (2001E): 228 Bcf
Net Natural Gas Imports (2001E): 188 Bcf
Recoverable Coal Reserves (2001E): 1.3 billion short tons
Coal Production (2001E): 0.63 million short tons (Mmst)
Coal Consumption (2001E): 3.53 Mmst
Electric Generation Capacity (2001E): 9.7 million kilowatts (4.13 of which is hydropower)
Electricity Generation (2001E): 41.6 billion kilowatthours (bkwh, of which 21.5 bkwh was hydropower)
Electricity Consumption (2001E): 40.1 Bkwh (of which 21.5 bkwh was hydropower)

ENVIRONMENTAL OVERVIEW
Total Energy Consumption (2001E): 1.06 quadrillion Btu (0.26% of world total energy consumption)
Energy-Related Carbon Emissions (2001E): 14.75 million metric tons of carbon (0.22% of world carbon emissions)
Per Capita Energy Consumption (2001E): 68.9 million Btu (vs. U.S. value of 341.8 million Btu)
Per Capita Carbon Emissions (2001E): 0.96 metric tons of carbon (vs. U.S. value of 5.5 metric tons of carbon)
Energy Intensity (2001E): 12,942 Btu/ $1995 (vs. U.S. value of 10,736 Btu/ $1995)**
Carbon Intensity (2001E): 0.18 metric tons of carbon/thousand $1995 (vs. U.S. value of 0.17 metric tons/thousand $1995)**
Fuel Share of Energy Consumption (2001E): Oil (46%), Natural Gas (23%), Coal (8.5%)
Fuel Share of Carbon Emissions (2001E): Oil (61%), Natural Gas (24%), Coal (15%)
Status in Climate Change Negotiations: Non-Annex I country under the United Nations Framework Convention on Climate Change (ratified December 22nd, 1994). Signatory to the Kyoto Protocol (June 17th, 1998 and ratified on August 26, 2002).
Major Environmental Issues: Air pollution from industrial and vehicle emissions; water pollution from raw sewage; deforestation contributing to loss of biodiversity; soil erosion; desertification.
Major International Environmental Agreements: A party to the Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands and Whaling.
* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar, wind, wood and waste electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data.
**GDP based on EIA International Energy Annual 2001

OIL AND GAS INDUSTRIES
Organization: Largely privatized. Empresa Nacional de Petróleo (ENAP) is the national oil and gas company. The National Energy Commission (NEC) is responsible for overall energy planning and tariff regulation.
Major Ports: Santiago, Puerto Montt, Concepción, Valparaíso
Major Oil and Gas Fields: Posesión, Daniel Este-Dungeness, Skua, Spiteful
Major Refineries (crude oil capacity): Petrox - Talcahuano (100,640 bbl/d), Refinería de Petróleo - Concón (94,350 bbl/d), Gregorio-Magallanes (9,859 bbl/d)

Sources for this report include: Business News Americas; Chile National Energy Commission; CIA World Factbook; Dow Jones News wire service; Global Insight; Global Power Report; Economist Intelligence Unit ViewsWire; Financial Times; International Energy Agency; International Market Insight Reports; Janet Matthews Information Services; Latin American Energy Alert; Latin American Power Watch; Los Angeles Times; McGraw-Hill Companies,Oil and Gas Journal; Oil Daily; Petroleum Economist; U.S. Energy Information Administration; World Markets Online.