Argentine Oil Output Up 0.7% in June, Natural Gas Up 3.1%

Argentine oil production crept 0.7 percent higher in June versus the same month last year, despite a fall in international crude prices, while the country's natural gas output grew 3.1 percent, a statement from the energy secretariat said on Monday.

 

June oil production was 2.55 million cubic meters, boosted by an increase in output from state-controlled energy company YPF, the statement said.

 

YPF itself increased crude output by 4.7 percent in June, year-on-year, to 1.08 million cubic meters. In 2012, Argentina's government seized control of the company from its former parent, Spain's Repsol.

 

Argentina produced 3.54 billion cubic meters of gas in June, the secretariat said. Of that, YPF, Argentina's No. 1 energy company, pumped 1.07 billion cubic meters, or 11.4 percent more than in June 2014, the statement said.