Argentina

Argentina has been named the next oil boom, as it is currently South America’s largest dry gas producer and fourth largest liquids producer. Just behind China and the United States, Argentina is the third largest holder of recoverable shale oil and gas in the world with the Vaca Muerta as its main source. In 1907, Yacimientos Petroliferos Fiscales (YPF) was founded and it continues to be the largest oil and natural gas producer in the country. Just recently in 2014, the Argentine government enacted a series of energy reforms to attract private investment and technology for the development of unconventional resources. The idea behind such reforms is to end the country’s position as a net importer of oil and gas.

 

Quick Facts

 

oil-barrel
As of January 2015, Argentina holds 2.4 billion barrels of crude oil reserves.

Argentina’s March 2015 year-to-date total crude oil production was 531,000 barrels per day (Bbls/day).

38 percent of Argentina’s 2013 total energy production (3.02 quadrillion Btu) was in crude oil, primarily used for transportation fuel.

60 percent of Argentina’s shale oil reserves are in the Vaca Muerta shale play.

 

natural-gas
As of January 2015, Argentina holds 11.1 trillion cubic feet of natural gas reserves.

Argentina’s March 2015 YTD for total natural gas production was 100 billion cubic feet.

51 percent of Argentina’s 2013 total energy production (3.02 quadrillion Btu) was in natural gas, primarily used in the electricity, industrial and residential sectors.

40 percent of Argentina’s shale natural gas reserves are held in the Vaca Muerta shale play.

 

refinery
Argentina has 10 oil refineries with a combined 611,175 Bbls/d of crude refining capacity.

 

imports-exports
First quarter 2015 EIA data shows current exports from the U.S. to Argentina of approximately 90,000 barrels per day of predominantly low sulfur diesel.