The energy balance of 2024 showed in November a positive balance of US$4,806 million due to fewer imports, lower purchase prices abroad and a strong increase in exports.
According to the latest monthly report by Nadín Argañaraz, The balance of energy dollars improved by US$5,223 million compared to the same 11-month period last year.
When breaking down the variation in the balance, the report highlighted that the “price effect” generated an increase of US$489 millionwhile the “quantity effect” a rise of US$4,735 million. That is, during 2024, cheaper energy was purchased from abroad and more Argentine resources were sold to the world.
The Vaca Muerta boom explains greater dollar income
However, the work of the economist Argarañaz highlighted that in the partial 2024 period the main contribution of energy dollars came from the savings generated by lower imports, mainly of liquid fuels for electricity generation, due to a greater supply of natural gas. Dead Cowwhich can now be transported by Former Néstor Kirchner gas pipeline, renamed Perito Moreno.
At the same time, the increase in activity in Vaca Muerta allowed Neuquen reach a new historical record in oil production, which is already close to the 450,000 barrels per day. In October, some 15,000 fracture stages were counted accumulated in the year. But the Oil Contacts Foundationwho leads Luciano Fucelloprepared a report that estimated a closing of 2024 above the 17,000 total fractures, which would represent a growth of around 19% compared to 2023.
For 2025 the numbers are very auspicious. According to what is projected by that entity, An increase of 37% is expected compared to 2024, until exceeding 24,008 fracture stages next year.
How much did Argentina save in dollars for energy?
“Due to the lower price of imported energy, US$843 million were saved and due to the lower amount of imported energy, the savings were US$2,946 million”the analysis emphasized. The sum of these two key components for self-sufficiency accumulates US$3,789 million, a figure well above what was planned by the national government.
Finally, the other determining factor for the positive energy balance is exports. According to Nadín Argañaraz, the greater quantities exported compensated for the lower price, with the effect on the dollar balance being positive. US$1,434 million.
However, regarding exports, relevant data was known for the sector, which is booming due to greater non-conventional activity: In 11 months of 2024, Argentine energy was exported for a total of US$8,626 million.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
