Argentina's Oil Output Up Yr/Yr In April For First Time In 2015

Argentina's Oil Output Up Yr/Yr In April For First Time In 2015
Argentina's oil output rose in April thanks to increased production by YPF, the government said, marking the first year-on-year monthly increase in 2015.

Reuters

BUENOS AIRES, June 15 (Reuters) - Argentina's oil output rose in April thanks to increased production by state-controlled energy company YPF, the government said on Monday, marking the first year-on-year monthly increase in 2015.

YPF, taken over by the government in 2012, is Argentina's biggest energy company. The state seized control of YPF after accusing its previous parent company, Spain's Repsol, of underinvesting in production.

Argentina's overall crude output rose 3.6 percent in April versus April 2014 to 2.54 million cubic meters, according to data published on the website of Argentina's energy secretariat. The overall production increase was driven by a 9.1 percent jump in YPF output to 1.07 million cubic meters, the statement said.

Argentina's natural gas output rose 8 percent in April to 3.52 billion cubic meters, pushed by an 18.4 percent increase in production by YPF to 1.07 billion cubic meters, it said.

(Reporting by Eliana Raszewski; Writing by Hugh Bronstein; Editing by Jonathan Oatis)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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