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
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
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
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
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
From Reuters Argentina’s gas production rose to 140 million cubic meters a day in June, the highest level in 11 years, the government said on Saturday. That amount represented growth of 5.8% compared with the same period last year. Argentina’s treasury ministry credited the growth to an increase in production at the Vaca Muerta shale play, which is about the
By Tyler Losier, Energy Reporter, Oil & Gas 360 YPF S.A. reaches preliminary agreement with Excelerate Energy to charter LNG carrier YPF S.A., the state-operated oil company of Argentina, has reached a preliminary agreement with Excelerate Energy, a U.S.-based LNG company, for the charter of a carrier to export LNG produced from YPF’s TANGO floating LNG unit. Both parties will
By Tyler Losier, Energy Reporter, Oil & Gas 360 German E&P Wintershall Dea teams up with ConocoPhillips to develop Argentina’s Neuquén Basin Wintershall Dea, a German-based E&P with a global asset portfolio, has signed a sales and purchase agreement (SPA) with ConocoPhillips (stock ticker: COP) to jointly develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vaca Muerta production growth leads to LNG exports In the past few years, Argentina’s natural gas production has been steadily rising, mainly due to an increased focus on the Vaca Mueta shale and tight gas play, located in the Neuquén Basin. Currently, production from the Vaca Muerta accounts for 23% of
From Bloomberg Argentine shale formation sees first crude and LNG shipments, drillers still face many infrastructure, political challenges Along the western edge of Argentina’s Patagonia, on an arid steppe nestled against the Andes mountains, lies a shale formation known as the Vaca Muerta. And ever since engineers confirmed what an American geologist suspected a century ago — that the Vaca
ExxonMobil to proceed with long-term development, two-phase attack in South American shale play Tuesday morning, ExxonMobil (stock ticker: XOM) announced its plans to proceed with the long-term development of its assets in the Vaca Muerta basin in Argentina’s Bajo del Choique-La Invernada block. The project is to include 90 wells, a central production facility, and export infrastructure connected to the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Italian supermajor will have 80% stake Argentinian authorities awarded an Eni-led consortium the exploration license for block MLO 124, located approximately 100 kilometers off the coast of Tierra del Fuego in the Malvinas Basin. Block MLO 124 encompasses an area of 4,418 square kilometers, in water with depths ranging from
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
