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Snapshot: Argentina’s crude oil and fuel exports
![Snapshot: Argentina’s crude oil and fuel exports](https://cdnimg.bnamericas.com/qnpMEyjRdPcLxyoSXhhOwTXlALDkdQazUDmIGwYVTUrurlxkhmrmVyJvLbMFWgGY.jpg)
Crude oil, gasoline and diesel export authorization requests from 24 companies were published in Argentina in May, up from 23 in April, according to federal energy department data.
The three biggest players, in terms of amount of crude and fuel volumes, were Pan American Energy, Petronas and Tecpetrol.
Together they sought the green light to ship 558,200m3, almost half of the overall total of 1.33Mm3 (million cubic meters). The previous month, in April, authorizations for a total of 907,500m3 were published.
In terms of crude, the three drillers listed the following basins as the source: Pan American Energy (Golfo San Jorge and Noroeste basins), Petronas (Neuquén basin) and Tecpetrol (Golfo San Jorge, Noroeste and Neuquén basins).
The bulk of requests published last month correspond roughly to 30-day periods in July-August, according to federal energy department data. Most requests are for crude shipments.
A total of 42 requests were published in May, compared with 48 the previous month. Associated output is shipped via Atlantic seaports.
In April, Argentina exported 131,000b/d of oil, generating revenue of US$335mn, according to federal energy department data cited by local consultancy Economía & Energía. This compares with 115,000b/d and US$270mn, respectively, a year earlier.
Argentina also exports oil to Chile, via the Otasa duct, under a different regulatory regime.
The government’s economic reform bill, in congress, deregulates the local hydrocarbons market, a move that could spell the end for the State's export control process. Local oil prices are moving into lockstep with international prices, which market players have called for.
In April, national oil production in Argentina was 698,300b/d, up 8.2% year-on-year, according to Economía & Energía.
Growth is being driven by shale oil producers in the Vaca Muerta formation, with the three biggest in this segment YPF, Vista Energy and Shell. Indeed, of the April total, conventional output accounted for 335,100b/d (down 4.3%) and unconventional production 363,200b/d (up 22.9%).
YPF, Vista and Shell reported production growth of 17.6%, 32.2% and 25.9%, respectively.
Midstream work is being carried out to boost Neuquén basin exports via Buenos Aires and to commence exports via a planned new terminal in Río Negro province.
Producers, among them YPF and Vista, are ramping up Vaca Muerta production to spur exports.
EXPORT AUTHORIZATION REQUESTS PUBLISHED IN MAY
Pan American Energy: Six requests, for a total of 250,200m3
Shell Argentina: Four requests, for a total of 119,000m3
GyP: One request for 4,000m3
CHNC: One request for 120,000m3
PCR: Two requests, for a total of 18,000m3
Petrolera Aconcagua Energía: Two requests, for a total of 18,000m3
Pampa Energía: Two requests, for a total of 17,000m3
Pluspetrol: One request for 45,000m3
Petroleros Sudamericanos: Two requests, for a total of 18,000m3
CGC: One request for 80,000m3
Chevron Argentina: One request for 10,000m3
Hattrick Energy: One request for 200m3
Refinería del Norte: Two requests, for a total of 7,000m3
Pan American Sur: One request for 7,000m3
YPF: Two requests, for a total of 31,500m3
Petronas E&P: Two requests, for a total of 160,000m3
President Petroleum: One request for 4,000m3
Tecpetrol: Two requests, for a total of 148,000m3
Enap Sipetrol: One request for 16,000m3
Vista: One request for 120,000m3
Capex: One request for 50,000m3
ExxonMobil Exploration Argentina: One request for 36,000m3
Trafigura: One request for 10,000m3
Equinor Argentina: One request for 39,000m3
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News in: Oil & Gas (Argentina)
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Neuquén wants Vaca Muerta cash to shift away from gas
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