The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
US oil major Chevron has submitted a $13.8 billion investment project in Argentina and requested its inclusion under the Large Investment Incentive Regime (RIGI)
Global oil inventories could fall to critically or historically low levels just before peak summer demand if the current pace of drawdowns continues, according to Thoril Bosoni, Head of the Oil Industry and Markets Division at the International Energy Agency (IEA)
Argentina’s energy trade balance could post a surplus of $11 billion in 2026, according to estimates by state-controlled oil company YPF
The world may need to reduce oil and gas consumption if the Strait of Hormuz remains closed much longer due to the U.S.-Israeli war on Iran, Dallas Federal Reserve President Lorie Logan said
Vista Energy, whose operations are concentrated in Argentina’s Vaca Muerta unconventional shale formation, announced plans to invest $5.6 billion in the South American country through 2028
The volume of oil supply lost because of the war in Iran and the blockade of the Strait of Hormuz has reached 14 million barrels per day, International Energy Agency (IEA) Executive Director Fatih Birol said
Argentina could reach oil production of 1 million barrels per day (bpd) in 2026, up from the current level of just over 850,000 bpd, driven by increased activity in the Vaca Muerta shale formation, Energy Secretary Daniel González said
OPEC oil production plunged in March to its lowest level since the height of the COVID-19 pandemic in June 2020, a Reuters survey showed, as the U.S.-Israeli war against Iran effectively shut the Strait of Hormuz and forced export cuts
