Argentina’s Transportadora de Gas del Sur (TGS) and US-based Excelerate Energy have agreed to conduct a study for a liquefaction plant in the city of Bahía Blanca,…
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 MOREArgentina has reduced the number of government ministries almost by half, from 19 to 10, in a bid to rein in spending, international media reported on Monday.
“Given…
READ MOREArgentina’s government has launched anew a labour agreement designed to drive up investment in Vaca Muerta, international media reported on Wednesday.
“We are…
READ MOREArgentine NOC YPF has committed to investing more than USD 550 million in the Fernández Oro block through 2022, local media reported Tuesday.
YPF president Miguel…
READ MOREArgentina’s YPF is being sued for USD 14 billion for environmental damages caused by Maxus Energy, which it bought in 1995, local media reported Thursday.
A…
READ MORELocal E&P player Compañía General de Combustibles (CGC) has struck unconventional hydrocarbons in Argentina’s Austral Basin, the company said in a press statement…
READ MORELocal E&P player Pampa Energía and super-majors ExxonMobil and Total have entered a 35-year concession in the Sierra Chata block in Argentina, international media…
READ MOREEcho Energy has discovered natural gas at the Fracción D licence in Argentina, the company said in a press release on Monday.
CSo-2001(d), the final well in a…
READ MOREArgentine Minister of Energy and Mining Javier Iguacel has said power and gas rates would be reviewed in September and October, with likely rate increases, local media…
READ MOREArgentina’s fuel retailers will be able to set their own fuel prices starting in August, international media reported Monday.
The opening of the market is…
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