A new study by the Oxford Institute for Energy Studies has identified Argentina, Brazil, Chile, and Colombia as the South American nations most likely to benefit from domestic clean hydrogen applications. The study emphasizes that despite their status as the region's largest economies, these countries face challenges in attracting local demand for their hydrogen projects. South America is seen as a continent with considerable potential for clean hydrogen, including green and blue hydrogen applications, due to its abundant hydrocarbon deposits and opportunities for carbon capture and storage (CCS) and renewable energy development. The report highlights various industries as 'low-hanging fruits' for clean hydrogen adoption, including oil refining, petrochemicals, fertilizer production, steelmaking, energy and power generation, and land transport. Brazil is singled out for its potential in decarbonizing steelmaking and fertilizer production, while Argentina is noted for its natural endowment and potential development of both green and blue hydrogen. Colombia is positioned to increase sustainable fuel production and utilize hydrogen for heavy-duty vehicles, and Chile is leading the way in green hydrogen development. The study underscores the significance of clean hydrogen in addressing decarbonization challenges and generating revenues for national budgets. It points out that clean hydrogen could play a crucial role in sectors such as aviation and maritime transportation. While some sectors like oil refining, power generation, and land transport lack incentives for clean hydrogen adoption, the potential for sustainable fuel production using hydrogen is considerable. The white paper suggests that clean hydrogen could serve as a means of storing renewable power in regions like Chile, where renewable energy sources are underutilized. Overall, the report paints a positive picture of the potential for clean hydrogen in South America, highlighting economic opportunities and the role of hydrogen in promoting sustainable practices and decarbonization efforts.