What area in Argentina is rich in oil?
Oil deposits are concentrated mainly in the Northwest and in Patagonia. The basin around the Patagonian port of Comodoro Rivadavia is estimated to hold some two-thirds of the country’s onshore reserves.
Is Argentina self-sufficient in oil?
Argentina is self-sufficient in oil — it hasn’t imported crude since 2018 — and has excess capacity in pipelines, allowing companies to ramp up exports this year of Medanito, a light crude produced from Vaca Muerta and the Neuquen Basin where the play is located.
Does Argentina produce oil?
Oil Production in Argentina Argentina produces 708,770.15 barrels per day of oil (as of 2016) ranking 26th in the world. Argentina produces every year an amount equivalent to 10.9% of its total proven reserves (as of 2016).
What is YPF Argentina?
YPF S.A. (Spanish pronunciation: [‘i ‘pe ‘efe], formerly Yacimientos Petrolíferos Fiscales; English: “Fiscal Oilfields”) is a vertically integrated, majority state-owned Argentine energy company, engaged in oil and gas exploration and production, and the transportation, refining, and marketing of gas and petroleum …
What are Argentina’s main resources?
In addition, the country has rich mineral deposits of lead, zinc, iron ore, uranium, manganese, tin, silver, copper and tungsten, as well as salt deposits, and a significant supply of marble, clay, limestone and granite throughout the country, which it supplies to the construction industry.
What is the main industry in Argentina?
Among the main industries in Argentina are food processing, automobile production, textiles, energy production, and mining. The nation also has a growing chemical industry. The service sector is now the leading component of the Argentine economy. In 1999, it accounted for 64 percent of GDP.
What is Argentina’s main energy source?
natural gas
Argentina’s total primary energy mix is dominated by natural gas (55%) and oil (33%), with bioenergy contributing 5%, and hydropower and nuclear another 3% each. Argentina has the 2nd largest reserve of shale gas and the 4th largest reserve of shale oil worldwide.
Does Argentina export energy?
In 2020, Argentina produced 480,000 barrels per day (bpd) of oil, of which 134,000 bpd were exported.
Is YPF part of Repsol?
The acquisition better positioned Repsol as a multinational company. Repsol’s acquisition of YPF also increased its capital to 288 million shares worldwide. Repsol’s presence in Latin America was one of the keys to corporate growth.
What are the top 3 natural resources in Argentina?
Natural Resources Argentina boasts rich oil and gas, mineral and agricultural resources.
What is Argentina’s main export?
The country’s main exports include oil-cake and other solid residues (13.7%), maize (11%), soy-bean oil and soya beans (10.8%), meat (3.8%), and wheat and meslin (3.7%); while it imports soya beans (4.7%), auto parts and accessories (3.9%), motor cars and other motor vehicles (3.8%), electrical apparatus for line …
What made Argentina rich?
Argentina possesses definite comparative advantages in agriculture, as the country is endowed with a vast amount of highly fertile land. Between 1860 and 1930, exploitation of the rich land of the pampas strongly pushed economic growth.
What types of renewable energy resources does Argentina have?
Argentina has some of Latin America’s most abundant renewable energy resources—steady winds in southern Patagonia, year-round sunshine in the remote northwest, and hydropower and biomass fed by rivers and expansive farmland.
What resources does Argentina need?
Resources in Argentina The important mineral resources present in the country include lead, zinc, tin, copper, iron ore, manganese, petroleum, uranium, and lithium.
What is Argentina’s largest export?
Here’s a List of Argentina’s Top Exports and Value as of 2018:
- Soybean Meal ($9.2 billion—15% of their total exports)
- Corn ($4 billion—6.8% of their total exports)
- Soybean oil ($3.88 billion—6.6% of their total exports)
- Delivery trucks and cars ($7.38 billion—12% of their total exports)
Why is Argentina renationalizing oil and gas company YPF?
Fernandez justifies the renationalization of YPF – which was privatized in the 1990s after decades as a state-owned company – on the grounds that it failed to boost oil and natural gas production needed to keep up with local demand. Energy import bills have shot higher, putting Argentina’s prized trade surplus at risk.
How much of Argentina’s power supply will come from renewables?
When fully operational, these projects will push renewables to 18% of Argentina’s total power supply – a breakthrough considering they were at just 1.8% before 2016 – and could avoid more than 220 million tons of carbon dioxide (CO 2) emissions over the next 20 years.
What is wrong with Argentina’s energy sector?
Low power prices and a yawning gap between power demand and supply, exacerbated by insufficient public investment in new generation capacity and domestic energy sources, left Argentina highly dependent on expensive imported liquid fuels and natural gas – and poorly positioned to attract energy sector investment.
What is Argentina’s 20% renewable portfolio standard?
From 2013 to 2015 Senator Marcelo Guinle, hailing from Argentina’s windiest region, worked with Sebastian Kind, who would later become the undersecretary for renewable energy, to draft a 20% by 2025 renewable portfolio standard (RPS).