Argentina's Oil And Gas Output Up In July On YPF Production


BUENOS AIRES, Sept 11 (Reuters) - Argentina's oil output rose 1.4 percent and natural gas production was up 1.8 percent in July on the year, thanks to rising output from state energy company YPF, the energy secretariat said.

Overall oil production was 2.62 million cubic meters in July, the secretariat said on its website. YPF's output alone rose 4.5 percent from a year earlier to 1.12 million cubic meters.

Argentina produced 3.637 billion cubic meters of gas in July, the secretariat said. Of that, YPF, Argentina's No. 1 energy company, produced 1.113 billion cubic meters, or 8.8 percent more than in July 2014.

In 2012, the government seized control of the company from its former parent, Spain's Repsol. Argentina has also decoupled local crude prices from global prices, fixing the price that refineries pay for locally produced crude at about $77 a barrel in a bid to support jobs and keep production up.

(Reporting By Eliana Raszewski, Writing by Mitra Taj; Editing by David Gregorio)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Services Manager - Production Chemicals
Expertise: Chemist|Production Engineering|Stimulation
Location: Midland, TX
United States Houston: R&D Cementing Engineer - Petrophysical Applications
Expertise: Chemical Engineering|Mechanical Engineering|Petroleum Engineering
Location: Houston, TX
United States Houston: Application Evaluation Specialist
Expertise: Drilling Engineering|Field Development
Location: Houston, TX
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours