South America / GoM
Country profile: Argentina
| Location: | Southern South America, bordering the South Atlantic Ocean, between Chile and Uruguay,0,0,0 |
| Climate: | mostly temperate; arid in southeast; subantarctic in southwest |
| Terrain: | rich plains of the Pampas in northern half, flat to rolling plateau of Patagonia in south, rugged Andes along western border |
| Size: | 2766890 sq. km total (Land area: 2736690 sq. km Water area: 30200 sq.km) |
| Population: | 40,677,348 (July 2008 est.) |
| Languages: | Spanish (official), Italian, English, German, French |
| Government: | republic |
| Capital city: | Buenos Aires |
| Legal system: | mixture of US and West European legal systems; has not accepted compulsory ICJ jurisdiction |
| Currency: | Argentine peso (ARS) |
| Licensing: |
Country profile
Argentina is one of South America’s largest economies. Argentina’s gross domestic product (GDP) grew by 8.4 percent in 2006 and 7.9 percent in 2007. This high level of economic growth has led to a corresponding increase in the demand for energy, especially natural gas. In contrast to the increase in demand, domestic production of oil and natural gas have stagnated and exports have declined. The imbalance between rising domestic energy demand and falling energy production has reportedly lead to sporadic shortages of electricity and natural gas, such as in June 2007, when the country experienced unusually-cold weather.
Energy production and consumption
| Oil | Gas | |
| Production: | 801,700 bbl/day (2005 est.) | 43 billion cu m (2005 est.) |
| Consumption: | 480,000 bbl/day (2005 est.) | 38 billion cu m (2005 est.) |
| Exports: | 367,600 bbl/day (2004) | 6 billion cu m (2005 est.) |
| Imports: | 21,650 bbl/day (2004) | 1 billion cu m (2005) |
| Reserves: | 2 billion bbl (2007 est.) | 512 billion cu m (1 January 2006 est.) |
| Major fields: |
Argentina - recent news
| 22 Oct 26 |
Argentina: GeoPark triples Vaca Muerta acreage with award of Corralera Noreste Block GeoPark, a leading independent energy company with more than 20 years of successful operations across Latin America, has been awarded the Corralera Noreste Block ('Corralera NE') in the Neuquén Basin, Argentina, further expanding its position in Vaca Muerta and strengthening its long-term growth platform in the country. |
| 17 Oct 26 |
Argentina: Archer awarded additional long-term agreement for two drilling rigs by YPF Archer has further strengthened its position in Argentina through the award of a new 3-year drilling contract with YPF, with an additional 2-year option. The contract provides for the addition of rig DLS-160 to Archer’s operations in Vaca Muerta, while securing the continued deployment of rig DLS-163 in support of YPF’s ongoing development activities in the basin. |
| 04 Oct 26 |
The President of the Republic of Argentina, Javier Milei, meets Eni CEO Claudio Descalzi The President of the Republic of Argentina, Javier Milei, met October 2 in Paris with Eni Chief Executive Officer Claudio Descalzi on the sidelines of the institutional and industrial events organized as part of Argentina Week. During the meeting, the parties discussed prospects for cooperation in the energy sector and investment opportunities in Argentina, with particular focus on the development of the country’s gas resources and projects aimed at strengthening its role in international energy markets. |
| 15 Sep 26 |
Argentina: ABO Energy signs framework agreement to sell Argentine portfolio ABO Energy KGaA has agreed to sell its Argentine portfolio to the Novva Group. The portfolio comprises renewable energy projects in the development stage with a total capacity of 3.17 gigawatts. The transaction is expected to be finalized as part of a confirmatory due diligence process in a share purchase agreement (SPA) in the next few months. |
| 23 Aug 26 |
Argentina: Continental Resources to acquire 50% interest in Phoenix Global Resources, forming JV operating company with Mercuria Energy Group Mercuria Energy Group held Phoenix Global Resources has announced that Continental Resources has signed a Heads of Agreement ('HOA') outlining a proposed transaction under which Continental will acquire a 50% interest in Phoenix. Upon completion of the transaction, Mercuria and Continental will become equal owners, forming a 50/50 joint venture operating company focused on the continued development and expansion of Phoenix's position in Argentina's Vaca Muerta. |
Argentina - more news
Other countries in this region
- Aruba,
- Bahamas,
- Barbados,
- Belize,
- Bermuda,
- Bolivia,
- Brazil,
- Canada,
- Chile,
- Colombia,
- Costa Rica,
- Cuba,
- Dominican Republic,
- Ecuador,
- Falklands,
- French Guiana,
- Grenada,
- Guatemala,
- Gulf of Mexico,
- Guyana,
- Honduras,
- Jamaica,
- Mexico,
- Nicaragua,
- Panama,
- Paraguay,
- Peru,
- Suriname,
- Trinidad,
- Uruguay,
- USA,
- Venezuela
