Restituita stringa vuota

Panorama Internazionale

24 APRILE 2019

15:41 - Argentina

AFTER 10 YEARS, ARGENTINA RETURNS TO EXPORT LIGHT OIL REGULARLY

(ICE) - ROMA, 24 APR -

The energy sector will allow Argentina from next June, to return to the club of countries that regularly export light oil, a group that the country has not been part of for 10 years. This type of oil is easy to process in local refineries, it is of higher quality than the other heavy oils and comes from the provinces of Neuquén thanks to the good productive behavior of the formation of unconventional Vaca Muerta resources.

Argentina during the Kirchnerism went from an energy trade surplus of us$ 6,100 million in 2006 to a deficit of us$ 6,900 million in 2013. Between those years, energy imports totaled us$ 50,000 million. In 2018, the deficit was reduced to us$ 2,360 million and it is expected to improve that performance during this year.

During 2018, the increase in Vaca Muerta production reversed the trend, with an increase in oil production in that area of around 4.4% and a decrease in imports of 64.6% (in volume). The saga will mark another milestone next month: it will be 12 consecutive months without oil imports, something that has not happened since 2012.

Last February, the state-controlled oil company YPF made the first export of Vaca Muerta oil. It went to the Bahamas, represented 489,000 barrels and almost us$ 29 million. Argentina did not export crude oil from the Neuquén Basin since 2009.

(ICE BUENOS AIRES)