By : Franyi Sarmiento, Ph.D., Inspenet, July 13, 2022
Aligned with the strong growth in the production of Vaca Muerta, hydrocarbon exports from the province of Neuquén, in Argentina, continue to rise, with increases of more than 300% for oil.
Last May, shipments abroad were registered for 1,270,000 barrels of crude, which generated an income of 133 million dollars, at an average price of 105 dollars per barrel in the period. The companies with investments in Vaca Muerta place a good part of their production abroad, where they obtain prices that are more than 40% higher than in the domestic market.
If the first five months of the year are taken into account, exports were accumulated for 6,680,000 barrels for a value of 635.6 million dollars. The volume exported implies an increase of 317% compared to the same period in 2021, according to data from the provincial government that LM Neuquén accessed.
The companies that led crude oil shipments abroad in May were Vista Energy (424 thousand barrels); Compañía de Hidrocarburo Unconventional, the firm between YPF and Chevron that exploits the Loma Campana field (314 thousand barrels); Bandurria Sur Investments (251,000 barrels), the company created by Shell and Equinor that exploits the deposit of the same name together with YPF; and Shell Argentina (232 thousand barrels).
The main destinations for Vaca Muerta crude are the west coast of the United States, Brazil, Chile, the Netherlands, Denmark, Hawaii and the Caribbean.
This material from the LMNeuquén portal was edited for clarity, style, and length.
Source : https://www.lmneuquen.com/crecieron-mas-del-300-las-exportaciones-crudo-n927963
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