Argentina

Number 24

Argentina

Currently, Argentina is an energy exporter, but perhaps not for long. According to the national statistical institute, INDEC, in October 2006 the difference between exports and imports for crude oil, natural gas, and electric energy was a positive $530 million. But oil production peaked in 1998 at 850,000 barrels of oil per day, and has declined since then to 700,000 barrels of oil per day. Oil companies have failed to increase production from mature onshore assets. The major stakeholders in Argentinean oil production are Repsol-YPF (a Spanish-owned company) with 41.5 percent of oil production, Pan American (U.S.-owned) with 16.9 percent, and Brazil’s Petrobras with almost 10 percent. Chevron controls 8.6 percent, and a number of smaller oil companies account for the remaining 23 percent.

http://www.energytribune.com/articles.cfm?aid=414