It is the largest offshore operation in Argentina. See also: List of countries by Oil Production. Stay up to date with the latest commodity posts.

Compared with shorter-term data, the full-year figures are less prone to distortion from periodic maintenance shutdowns and other seasonal cycles. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Argentina fell into a financial crisis in 2018, pushing the economy into recession and doubling the inflation rate to 55% this year, the fourth-highest in the world. Argentina’s benchmark interest rate is running at nearly 84%, the highest in the world, and economists warn a sovereign default is probable yet again.The country defaulted on $100 billion in 2001, then the world’s largest for a sovereign.Even so, Ernesto López Anadón, president of the Argentina Oil and Gas Institute, said it has yet to be seen if politics will sideline Vaca Muerta’s growth, which is being led by Argentina’s Companies, he said, have put investment on hold since the election and Macri’s subsequent However, López Anadón said there is an understanding among the leading political coalitions that Vaca Muerta’s development is crucial for long-term economic growth and as a new source of dollars—not just the traditional agriculture exports—to cover state spending, pay the national debt and replenish central bank reserves that have tumbled 35% over the past five months.If Vaca Muerta is not developed, it’s a “failure” for the country, López Anadón said.“I think that the geology is going to win,” he said, before adding, “But I’m not sure if this is a hopeful wish.”His hesitation stems, in part, from the uncertainty of what the energy policies could be if Fernández becomes president.

Macri’s chances of winning a second four-year term in the October 27 general election have dimmed.This isn’t surprising. Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data. Business closures have risen. Sign up to our commodities Email Bulletin.© 2020 S&P Global Platts, a division of S&P Global.



As Argentina stands on the verge of regime change, the question for oil companies is whether politics or the geology of Vaca Muerta, one of the world’s biggest shale plays, will prevail.Oil companies are used to dealing with geopolitical risk, often operating in volatile regions when the resource potential is high enough. ... Argentina, Mexico to produce COVID-19 vaccine. … So, too, have poverty and unemployment.In the end, will geology trump politics?

All rights reservedIn Argentina, politics threatens oil production growth again: Fuel for Thought

The candidate has said little so far, but on a trip to Spain early this month he said: “It makes no sense to have oil if the multinationals take it.”This swelled concerns of a return of the interventionism that led to the re-nationalization of YPF in 2012 from Spain’s Repsol.This wouldn’t surprise Gerardo Rabinovich, vice president of the Argentine Energy Institute, a think tank.“We shouldn’t expect anything different from what they did from 2003 to 2015,” he said.

ENAP Argentina has operations in the Austral Basin and the San Jorge Gulf Basin. Argentina produces 708,770.15 barrels per day of oil (as of 2016) ranking 26th in the world. This is a list of countries by oil production, as compiled from the U.S. Energy Information Administration database for calendar year 2019, tabulating all countries on a comparable best-estimate basis. The Magallanes area has five oil and gas production platforms.

Argentina's YPF expects oil, gas output to hold steady or decline this year .

Global oil production increases in July 2020 Global oil demand in 2020 is estimated to be 9.06 million barrels a day lower than last year. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. A banker, who asked not to be named, didn’t hesitate to say that politics would win.The risk of doing business in Argentina has shot up on the anticipation of a return to populist rule, making it harder to finance such a capital-intensive industry. Oil Production in Argentina. NSA

There has been a sharp impact on Argentina’s petroleum production.
Peronism straddles the left and the right, a perennial source of internal conflict and jockeying for power.Fernández is a moderate, but on the left is Fernández de Kirchner and her son, Máximo Kirchner, a congressman, who both wield a lot of power and have energy advisers who have suggested putting local companies at the helm of developing Vaca Muerta, for example, or controlling corporate profits.“There is going to be a clash between the pragmatic centrists of Peronism and the ideological left,” and this could slow the development of Vaca Muerta, said Federico Mac Dougall, a business professor at the University of Belgrano in Buenos Aires.