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

Reuters

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.

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