Argentina is on track to begin raising residential natural gas tariffs from October 1 onwards in a three-year plan eliminate subsidies and reach market prices, Energy…
READ MOREArgentina's Energy Industry
in figures
Oil reserves2.5 billion barrels
Oil production627,000 bopd
Gas reserves400 bcm
Gas production38.6 bcm
Argentina: Vast Unconventional Potential
Argentina’s energy industry remains a key sector for the country’s economic stability. The nation has the fourth-largest shale reserves in South America, which include the world’s second-largest shale gas formation, Vaca Muerta, located in Neuquén and Mendoza provinces. Natural gas production comprises up around 60% of the country’s supply of hydrocarbons. The hydrocarbons industry is overseen by the Ministry of Productive Development of Argentina, which updates policies and mandates on industrial matters.
The market is driven by majority-state-owned integrated energy company YPF, which has been involved in E&P operations since 1922. The NOC is the country’s largest oil and gas producer and owns more than half of Argentina’s refineries. International companies such as Chevron, Dow Argentina, Enap Eipetrol and Statoil have joined in the country’s upstream operations.
Argentina has traditionally had a surplus production of oil and gas, with exports bound mainly to its neighbour Chile although it remains a new importer of hydrocarbons. The nation is actively seeking investment to unlock its gas potential as demand rises while facing challenges related to high production costs and conflicts with labour unions. The country issued several revamps of policy to incentivise FDI under its Plan Gas initiative, with the aim of upping gas production as it transitions to lowering carbon dioxide emissions and adding renewables to its energy mix. Its total energy mix is dominated by oil and gas with bioenergy, nuclear and hydropower contributing less than 20% of its total primary energy use according to the IEA.
Mining player Rio Tinto is planning an investment of USD 350 million at the Rincon lithium project in Argentina.
READ MOREUS major Chevron has partnered with Challenger Energy Group to develop promising acreage offshore Uruguay, Challenger announced…
READ MOREIndian state-owned mining entity Khanij Bidesh India has signed a USD 24-million lithium exploration pact for five licences in Argentina, Reuters reported on…
READ MOREAbdulmuin Alyousef, CEO of Completion Energy, talks to The Energy Year about the company’s strategy to export technologies developed locally and its success in…
READ MOREIndia has opened the first tranche of its new minerals auction with 20 concessions on offer, the government announced on Wednesday.
The 20 blocks cover eight…
READ MOREChevron has planned spending of more than USD 500 million to develop the Trapial block on Argentina’s Vaca Muerte basin, Argentina’s Ministry of Economy announced…
READ MORETOGY talks to Jorge C. Bacher, partner and head of the energy division for PwC South America, about the state of Argentina’s oil and gas industry, the availability of…
READ MOREGerman conglomerate Siemens said on Thursday that it would invest in and provide financing for power generation and energy management projects in Argentina, as well as…
READ MOREShell is considering to divest its downstream assets in Argentina, CEO Ben van Beurden said late on Wednesday, as part of its ongoing, USD 30-billion global divestment…
READ MOREThe Supreme Court of Argentina late on Thursday ordered the government to suspend plans to remove subsidies on gas, upholding a lower court ruling on the country’s…
READ MORETotal on Wednesday started up its onshore Incahuasi gas and condensates field the Andean Cordillera foothills in Bolivia, along with partners Tecpetrol of Argentina,…
READ MORETOGY talks to Alberto Saggese, CEO of Gas y Petróleo del Neuquén (GyP) about the exploration and development of unconventional areas, pilot projects with some of the…
READ MOREThe Argentinian government has a new national gas plan in the works aimed at encouraging the development of unconventional gas resources, local media reported late on…
READ MOREArgentine electricity company Pampa Energía will sell its indirect stake in Transportadora de Gas del Sur (TGS), the company announced late on Tuesday, paving the way…
READ MOREDiego Fernández, country manager for Drillmec in Argentina, talks to TOGY about the challenges that the company has faced in trying to bring HH series rigs to the…
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