Argentina's energy investments are expected to reach $15 billion next year due to deregulation
The Energy Secretary Eduardo Rodriguez Chirillo stated on Tuesday that Argentina expects to see investments in its energy sector reach $15 billion by 2025, and $16.5 billion by 2026 as a result of the market deregulation efforts. According to Rodriguez, the estimated expenditure includes additional funds flowing from the country's investment promotion regime RIGI…
Pampa Energia, Argentina raises over $400 mln for Vaca Muerta campaign
Pampa Energia, a natural gas producer in Argentina, announced a $410 million debt issuance on Friday. This demonstrates investor confidence as the company expands its operations in the Vaca Muerta shale in the country. The massive shale deposits, where state-owned YPF, Vista Energy and other competitors are investing…
Argentina, Russia Ink Uranium Exploration, Production Deal
Argentina and Russia signed a memorandum of understanding to boost uranium exploration and production in the South American country that could include $250 million in investment, Argentina's foreign ministry said on Tuesday. The agreement was sealed during a visit by Argentine President Mauricio Macri to Moscow. It was signed by Foreign Minister Jorge Faurie…
YPF Says Technology Lowering Its Shale Costs
Longer horizontal wells and technology improvements will help Argentine state-run oil company YPF SA lower costs at its most productive shale field, but better infrastructure is still needed in the remote Vaca Muerta play, an executive said. The breakeven price at the Loma Campana field is $43 per barrel and falling…
Argentina expects $1.8 bln investment from renewable energy auction
Argentina expects investment of $1.8 billion from 17 renewable energy projects awarded in an auction to generate 1,109 megawatts of power, the government said on Friday, as it tries to lessen dependence on imported power. Argentine and international companies are among the winners, with Spanish companies Isolux Corsan…
Argentina Starts Alternative Energy Push
Argentina invited bids for projects aimed at creating 1,000 megawatts of alternative energy on Wednesday in the country's first push toward wind and solar power production needed to help narrow its energy deficit. Argentine President Mauricio Macri said the projects would be the initial stage of a plan that calls for 10…
Russia to Sign Energy MoU with Argentina
Argentina and Russian state-owned gas producer Gazprom will sign a memorandum on Thursday, Kremlin adviser Yuri Ushakov confirmed on Wednesday. Sources familiar with the situation said earlier that Argentine state oil company YPF was close to signing a memorandum of understanding for Gazprom to make energy investments in the South American country.
Argentina to Ink Energy Deal Memorandum with Gazprom
Argentine state oil company YPF is close to signing a memorandum of understanding for Russia's Gazprom to make energy investments in the South American country, sources familiar with the situation said on Tuesday. The memorandum is to be signed in Moscow this week during a visit from President Cristina Fernandez and YPF chief Miguel Galuccio…
Argentine February Natgas Output Rises, Oil Extends Losses
Argentine natural gas production rose in February versus the same month last year, but output of crude oil extended 2014 losses into the first two months of 2015, the country's energy secretariat said on Monday. Natural gas output rose 1.2 percent in February to 3.23 million cubic meters while crude production fell 2.1 percent to 2.35 million cubic meters, the secretariat said in a statement.
Argentina: 2014 O&G Output Fell Despite YPF Increase
Argentine oil output fell 1.4 percent last year versus 2013 to 30.88 million cubic meters while the country's natural gas production edged 0.5 percent lower to 41.48 billion cubic meters, according to data provided by the Energy Secretariat. A fall in production by private companies during 2014 outweighed increases reported by state-controlled YPF…
Vaca Muerta Shale Output Rising
Combined shale oil and natural gas output from Argentina's vast Vaca Muerta formation was about 33,000 barrels of oil equivalent per day (boepd) at the end of September, with a trend toward growth, data from the formation's home province of Neuquen showed on Friday. The information from the province's mining and energy…
Argentina: Oil Plunge Cuts Energy Trade Deficit
The slump in international oil prices and increased domestic output will reduce Argentina's energy trade deficit by 16 percent next year to $5.6 billion, the government said on Tuesday, helping to ease strains on the balance of payments. Argentina is grappling with pressure on its foreign currency reserves after being…
New Gas Plant Could Save Ghana $300m on Fuel Costs
Ghana has begun processing gas from its offshore Jubilee oil field through a pipeline project that could save the government $300 million a year on fuel costs even with the current steep drop in oil prices, state-owned Ghana Gas said on Wednesday. The Atuabo gas plant is supplying 50 million cubic feet of gas per day…
Argentina: Oil Price Slump Will Help Cut its Energy Bill
The slump in global oil prices will reduce Argentina's energy import bill, the country's economy minister said on Wednesday, easing pressure on the central bank's strained foreign reserves. The economy minister, Axel Kicillof, told industry leaders at a conference that he projected an energy deficit of $7 billion to $8 billion this year…
Argentina Agrees Draft Energy Law to Boost Foreign Investment
Argentina's federal government said on Wednesday it had reached a preliminary agreement with provinces to reform energy regulations and improve incentives to lure the foreign investors needed to develop its vast shale oil and gas reserves. The cash-strapped South American country needs investment in its southern Patagonian Vaca Muerta fields to reverse a costly energy deficit…
Argentine Senate Okays Deal to Lure Shale Investors
Argentina's Senate early on Thursday approved a bill aimed at increasing incentives to lure the foreign investors needed to develop its vast shale reserves and erase the country's costly energy deficit. The cash-strapped South American country, which defaulted on its debt in July and cannot tap global credit markets…
French MPs Back Cut to Nuclear Energy Reliance
A law which fixes a target of reducing French nuclear power production from 75 percent of the country's energy supplies to 50 percent by 2025 won approval from the lower house of parliament on Friday. France, the world's most nuclear-reliant country, has faced increasing costs because of the price of maintaining ageing plants and tighter regulations after the Fukushima disaster in Japan.
Argentine Congress Passes Law Aimed at Attracting Oil Investment
Argentina's Congress gave final approval on Thursday to a law revamping energy investment regulations, the latest step by President Cristina Fernandez to lure foreign companies into the country's promising shale sector. The law, passed by a 130 to 116 vote in the lower house, cuts the minimum investment needed for companies to be exempt from import controls to $250 million from $1 billion.
YPF Reports Higher-than-expected Q3 Net Profit
Argentina's state-controlled energy company, YPF , on Wednesday posted a third-quarter net profit of 3.212 billion pesos ($377.4 million), beating market expectations. The market had expected earnings of 2.310 billion pesos for the quarter, according to the median forecast in a Reuters poll of analysts. YPF said it…
Brazil's Petrobras to Invest $622 mln in Argentina
Petróleo Brasileiro SA, Brazil's state-run oil company, will invest $622 million in shale gas production in Argentina's Neuquen province, near the massive Vaca Muerta formation, Neuquen's provincial government said on Friday. The investment will be made over the next few years, according to a statement posted on the provincial government website.
