Argentina oil export requests edge up in November

The number of oil and gasoline export requests published in Argentina has climbed for the second month in a row.

The federal energy department published 34 in November, after publishing 31 in October, up from 26 in September but down from 42 in August.

The bulk of requests correspond to roughly 30-day periods in November-February.

Upstream firms, chiefly in the Neuquén basin, are pressing the production accelerator, with appetites whetted by attractive prices in the export market and geopolitical shifts. Last week midstream firm Oldelval confirmed it would increase the capacity of a pipeline expansion project – running between the basin and export facilities in Buenos Aires province – following strong demand for space on the new duct from producers. An Argentina-Chile export pipeline, which is being de-mothballed and could enter service next quarter, is also due to help ease congestion and support production. 

An export request filed by Pan American Energy (PAE), a producer linked to British major BP, was the biggest published in November in terms of volume: 167,000m3 from January 5 to February 10. Oil would be sourced from acreage in the Golfo San Jorge basin and exported via the Caleta Córdova terminal in Chubut province, according to documents filed with the country’s federal energy department. PAE’s chief asset in the basin in the Anticlinal Grande-Cerro Dragón license, which is also Argentina’s No. 1 oil producing area. 

Vista Energy was the No. 1 applicant in terms of requests published in November, with two for a total of 240,000m3. Vista has previously said it would boost production and exports. 

According to October data, the three biggest exporters of Neuquén basin Medanito crude were Vista Energy, PAE and Petronas.

Overall, requests from 27 companies were filed in November, up from 24 in October and 21 in September. Twenty-seven were also filed in August. 

The firms filed to export 1.1Mm3 compared with 716,649m3 oil and gasoline in October, 1.05Mm3 in September and 1.32Mm3 in August.

PRODUCTION

Oil production in Neuquén province – home to the bulk of the Vaca Muerta unconventional formation and the Neuquén basin – hit 48,197m3/d (303,040b/d) in October, the highest in 23 years. Production was up 32.2% year-on-year and 3.9% month-on-month, the provincial government said.

Overall Argentine oil output averaged 95,800m3/d in September, up 1.7% month-on-month and 12.9% year-on-year, according to data in a General Mosconi energy think tank report. Unconventional oil output averaged 42,000m3/d, up 46.7% year-on-year. 

OIL AND GASOLINE EXPORT REQUESTS PUBLISHED IN NOVEMBER

Compañia de Hidrocarburo No Convencional: One request for 90,000m3
Tecpetrol: Two requests for a total of 100,000m3
Wintershall Energía: One request for 15,000m3
Pluspetrol: One request for 22,000m3
Vista Energy: Two requests for a total of 240,000m3
Total Austral: Two requests for a total of 18,500m3
Compañia General de Combustibles: One request for 30,000m3
Shell Argentina: One request for 80,000m3
CGC Energía: Two requests for a total of 90,000m3
Capex: One request for 50,000m3
Pan American Energy: Two requests for a total of 182,000m3
Hattrick Energy: One request for 100m3
Petróleos Sudamericanos: One request for 8,000m3
Roch: Two requests for a total of 5,597m3
Secra: One request for 269m3
Oilstone Energía: One request for 5,000m3
President Petroleum: One request for 4,500m3
Gas y Petróleo del Neuquén: One request for 2,000m3
PCR: One request for 6,000m3
Petrolera El Trébol: One request for 850m3
Desarrollos Petrolero y Ganadero: One request for 777m3
Crown Point Energía: One request for 1,737m3
Enap Sipetrol: One request for 16,000m3
YPF: Two requests for a total of 21,500m3
Petronas: One request for 78,000m3
Pan American Sur: One request for 20,000m3
ExxonMobil Exploration Argentina: One request for 25,000m3