Argentina: 16 months without importing oil

In August, Argentina celebrated 16 consecutive months without importing oil, because gas production during the eighth month of the year grew 7.9% and oil extraction increased 5.5%, according to the Ministry of Finance.

“In August, gas and oil production continued to grow. Gas production in August grew 7.9% over the same month of the previous year; it’s the largest production since August 2007,” said the ministry.

Natural gas production was the highest in 12 years, totaling 144m m3 per day. However, conventional gas fell by 6% offset by unconventional production, which grew by 31% over the previous year, among which shale gas stood out with a 74% increase, which translates to a daily output of 36 MM m3.

Source: Portal Portuário

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