In a historical milestone for the province of Neuquenthe month of June recorded a amazing record export of Petroleumwith an impressive total of 2.77 million of barrels. This unprecedented achievement It is attributed largely to the expansion of production in the famous formation Dead cow. The provincial government celebrated the figure.
The crude oil sales abroad not only marked a milestone in terms of volume, but also had a significant financial impact. During the month of June, oil exports generated income for a total of US$184.8 million. These results were achieved with an average price of US$67 per barrel.
The magnitude of this success becomes even more apparent when one considers that oil exports represented the 29% of the province’s total production during the same period.
Confidence in the potential of Dead cow as a vital reserve of energetic resources it is palpable. This deposit is the Territorial Army largest unconventional gas in the world and fourth in terms of oil. Argentina bets on the continued development of Vaca Muerta to correct its energy deficit in the trade balance. This correction is especially crucial at a time when central bank foreign reserves are limited and are required to meet debt payments and imports.
The governor Omar Gutierrez shared his enthusiasm regarding these achievements. In a statement, he said: “We are very happy that this province follows providing solutions to the country with the income of foreign exchange and the decrease in imports of energy“. This sentiment reflects the importance not only economic, but also strategic, of this victory for the province and the country as a whole.
He gas industry also contributed to this picture of success. In the same period, Neuquén exported 108.48 million cubic meters of gas at an average price of $7.87 a million BTUsgenerating income for US$31.5 million.
Taking into account both the exports of oil like gas, Neuquén achieved sales abroad for a total of US$1,318 million during June. In the field of oil exports, Vista Energy emerged as a leader with 491,000 barrelsclosely followed by petronas with 470,000 barrels. As far as gas is concerned, Tecpetrol stood out as the leader in foreign sales, representing 27.4% of the total, followed by Pampa Energy with 23.4%, according to the official statement.
This milestone in energy exports is a testament to the transformative power of Vaca Muerta and its role in the Argentine economy. In addition, it highlights the ability of local energy industries to generate substantial income and contribute to the economic well-being of the country.
Source: Ambito
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