The Buenos Aires governor, Axel Kicilloftoured this Friday the expansion works promoted by Oiltanking with US$500 million investment in the port of Coronel Rosales. The initiative seeks to improve the logistics structure that allows increasing the export of oil incremental expected to occur in Dead Cow over the next few years. Besides, Kicillof crossed Javier Milei for the LNG plant in Río Negro and defended the renationalization of YPF.
“We were visiting what is going to be a change for Argentina, geostrategic, for the company “Oiltanking, associated with YPF, for those who fill their mouths with lies and chicanery, and those who fool around end up ruining investments”launched the governor, in reference to the possible departure of Petronas from the agreement with the flag oil company to build the LNG plant, which was initially planned in Bahía Blanca, and which is now projected in Río Negro.
MIlei had said week ago that the LNG could not be installed in Bahía Blanca because of the “serial expropriator” by Kicillof, who did not want to join the RIGI and launched his own initiative to attract investments. “Obviously he’s going to go somewhere else. I mean, are you going to invest where Kicillof is? No chance”said the head of state in an interview. “Why do you want to do a different one (for the RIGI)? To do it with your communist ideas?”he wondered.
What Milei did not estimate at that moment was that Petronas It is not convinced to promote a mega-project worth US$30,000 million now and is considering withdrawing from the project and withdrawing from the Memorandum of Understanding. The Malaysians want to extend the construction period and launch in 2045. But YPF It wants to have it operational by 2031. Until November, Petronas has time to respond if it continues or is lowered. The CEO of the flag oil company, Horacio Marín, has already admitted that they are in talks with other large companies in the sector, which Energy Report learned would be Shell, ExxonMobil, Chevron and TotalEnergies.
In this maco, Kicillof considered that Puerto Rosales is the “exit door” of the oil of Dead Cow in the province of Buenos Aires, and described the expansion as “a pharaonic work.” “There was no need to lie and fool around there,” He confronted the President.
“This project has a strategic perspective and the commitment of the provincial State and the private sector to meet the established objectives: with great seriousness and humility, “This is the largest investment being made in Argentina.”stated the president during the tour with the local mayor, Rodrigo Aristimuno.
“It was the decision to recover YPF that allowed us not only to recover energy self-sufficiency with Vaca Muerta, but also to add export capacity and, above all, added value with Argentine work,” he added.
What the expansion works in Puerto Rosales are about
The works began in March of last year and will increase the port’s capacities by 50%: It is estimated that it will be able to export 310,000 barrels of crude oil daily, expanding Argentina’s exportable volume by US$8 billion.
Work is currently underway on the first stage of the project, which includes the construction of two tanks, a pumping station, an electrical substation and a dock.
As explained by the Province, the expansion of the terminal is complemented by the work to expand the Valley Pipelinewhich aims to double its capacity to accompany the production growth of the Neuquén Basin. With its completion, Puerto Rosales will become the largest hydrocarbon export logistics center in the country.
Puerto Rosales 2.jpg
“To the sectors that talk to us about privatizing everything, we must remind them that YPF, like many other key companies, was already in the hands of the private sector and that led us to be left without resources and without a future”said the governor, and added: “The oil and gas that Argentina has cannot serve to enrich a few: the riches of our subsoil must be used to develop industry and bring more dignity and well-being to our people.”
“With determination and working beyond the issues of party politics, we have come to transform Coronel Rosales to add higher level studies and diversify its productive matrix with more oil, tourism and fishing,” Kicillof stressed and concluded: “We do it to fulfill the desires and dreams of a people who look at their port and their city with love and pride.”
Mayor Aristimuño explained: “We are facing infrastructure projects that will not only enhance our region, but, fundamentally, will improve the quality of life of the residents of the district.”
“These investments are the product of long-term work and were achieved through a synergy between a provincial government committed to public works and a business sector that was offered a legal framework of predictability and opportunities,” remarked the communal chief.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
