Argentina – Page 3 – Oil & Gas 360

Argentina oil driller surges as new president looks to unlock “untapped” Vaca Muerta shale

November 27, 2023

World Oil (Bloomberg) – Argentina’s YPF SA surged the most on record following the election of outsider presidential candidate Javier Milei, who said he plans to privatize the state-owned oil and gas producer and remove controls stymieing the sector. The driller’s American Depository Shares soared as much as 43%, the biggest intraday move since they began trading in 1993. Argentina’s

Argentina fuel pump crisis deepens as government threatens export halt

October 30, 2023

Nasdaq BUENOS AIRES – Argentina’s fuel crisis deepened on Monday as filling stations around Buenos Aires ran out of petrol and long queues formed elsewhere, while the government said it could halt exports to preserve supplies and oil sector workers threatened a strike. The South American country, a major shale oil and gas producer, has suffered shortages of petrol and

Argentina energy mogul bets on shale gas amidst looming presidential election

October 16, 2023

World Oil (Bloomberg) – To get to Marcelo Mindlin’s desk in his downtown Buenos Aires office, guests must walk past a big steel ring — a cross-section of natural gas pipeline. The hunk of metal epitomizes the views of Mindlin, and Argentina’s leaders, on the future of energy: Even as electrification gathers speed, fossil fuels will be needed for decades to

Argentina launches gas pipeline from Vaca Muerta shale play

July 10, 2023

Oil Price Argentina inaugurated on Sunday a natural gas pipeline from the Vaca Muerta shale to a town in the Buenos Aires province, as part of its efforts to become energy independent and stop paying billions of dollars for LNG imports. Argentinian President Alberto Fernández officially launched the first leg of the Néstor Kirchner gas pipeline (Gasoducto Presidente Néstor Kirchner), which runs

Argentina says Chevron to invest $500 mln in Vaca Muerta shale area

June 12, 2023

BOE Report U.S.-based oil major Chevron will invest more than $500 million to develop the Trapial block in western Neuquen province, home to the massive Vaca Muerta shale basin, Argentina’s economy ministry announced on Friday. The announcement followed a meeting between Economy Minister Sergio Massa and company officials, according to a ministry statement. The new spending plan is scheduled to start before

Argentina “awakens” Vaca Muerta shale to increase oil and natural gas production

February 27, 2023

World Oil (Bloomberg) — In a windswept desert southwest of Buenos Aires, black steel tubes the length of school buses extend in a line toward the horizon. The scene is the clearest sign yet that one of the world’s biggest shale plays finally has a shot at living up to its promise. Workers in the geological formation known as

Analysis: Argentina’s Vaca Muerta shale boom is running out of road

December 27, 2022

Nasdaq ANELO, Argentina – Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth. The government is now racing to build out infrastructure: a major new gas pipeline

Argentina’s state oil company YPF sees major jump in profits

November 18, 2022

Oil Price Argentine state oil company YPF last week reported that its net profit for the third quarter leapt 186 percent year-on-year to $678 million, Reuters reported. The company said rising levels of production and higher oil prices drove profits. YPF’s revenue rose to $5.18 billion in the quarter, a 43 percent increase as compared to the same period last

War turns Argentina’s shale boom dream into gas-buying nightmare

March 28, 2022

World Oil (Bloomberg) — Argentina, home to some of the world’s vastest gas reserves, is bracing for the unthinkable: rationing one of its chief natural resources. Despite having shale-gas deposits to rival those in Appalachia, which made the U.S. a major exporter, Argentina’s domestic gas production sector has suffered from years of underinvestment that has left it unable to meet

Argentina moving forward with offshore drilling despite protests

January 7, 2022

Oil Now (S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural gas demand will remain steady over the next two to three decades as the world transitions to net-zero greenhouse

Argentina’s Vaca Muerta tight oil deposit is now producing at record levels, matching US well scores

February 4, 2021

Rystad Energy February 3, 2021 The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a Rystad Energy report reveals. The ascent can continue

Big Oil seeks refuge in Brazil from Latam regional turmoil

October 28, 2019

Source: Reuters RIO DE JANEIRO/MEXICO CITY (Reuters) – When executives arrive in Rio de Janeiro this week for Brazil’s biennial Offshore Technology Conference, they will find themselves in Latin America’s most promising market for Big Oil by far. That marks a dramatic change from only a year ago. In early October 2018, Brazil’s current president, Jair Bolsonaro, was in

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