Argentina’s YPF and GE have relaunched an existing power generation company as YPF Luz, international media reported on Thursday.
The new company was established…
READ MOREOil reserves2.5 billion barrels
Oil production627,000 bopd
Gas reserves400 bcm
Gas production38.6 bcm
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.
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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’s YPF and GE have relaunched an existing power generation company as YPF Luz, international media reported on Thursday.
The new company was established…
READ MOREArgentinian energy company Pampa Energía has announced it will spend USD 412 million to develop its El Mangrullo and Las Tacanas Norte blocks, local media reported…
READ MOREQatar Petroleum (QP) has signed an agreement to purchase 30% stakes in two ExxonMobil affiliates operating in Argentina for an undisclosed amount, the state-owned…
READ MORELess than 24 hours after it was passed by Argentina’s Senate, legislation that would freeze or revert water and gas rates was vetoed by President Mauricio Macri on…
READ MOREAshley Taylor, president of the Point Lisas Industrial Port Development Corporation (PLIPDECO), talks to TOGY about the domestic port logistics sector, the company’s…
READ MOREArgentinian senators approved a motion in the early morning hours of Thursday to put an end to recent hikes for gas, water and electricity rates.
In a 37-30 vote…
READ MOREArgentinian E&P player Pampa Energía and Neuquén provincial oil company Gas y Petróleo del Neuquén (GyP) have signed a contract for the Las Tacanas Norte block in…
READ MOREAlejandro Díaz, CEO of the American Chamber of Commerce in Argentina (AmCham), talks to TOGY about the business relationship between the two countries, opportunities…
READ MOREPablo Bizzotto, YPF’s executive vice-president of upstream operations, talks to TOGY about the company’s E&P objectives and how it plans to meet targets, the…
READ MOREArgentina’s YPF and international energy trader Trafigura have made offers to acquire assets from Oil Combustibles, a downstream company that has recently filed for…
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