continuous oil refining project in argentina

                                               
                                               
                                               
                                               
                                               
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  • What is Argentina's outlook for crude oil production in 2023?
  • We have become increasingly upbeat in our outlook for Argentina's crude oil production, as shale oil production outperforms. In 2023, crude oil production grew by 8.7% y-o-y, surpassing our forecast of 6.2% y-o-y, primarily due to stronger-than-expected performance in Q423.
  • Does Argentina have an oil and natural gas boom?
  • Despite this chaos, Argentina¡¯s unconventional oil and natural gas boom is gaining momentum, with production hitting new highs. The key driver of Argentina¡¯s once-in-a-lifetime oil boom is the Vaca Muerta shale formation situated in the Neuquén Basin, which lies in Patagonia.
  • Is there a decline in oil & gas production in Argentina?
  • There has been a steady decline in conventional oil and gas production in Argentina over the last decade, coinciding with the expansion of unconventional oil and gas production. Since 2017, most investment has been in nonconventional oil and gas, with approximately 70% of investments concentrated in Neuquén.
  • Will a new shale gas pipeline boost Argentina's economy?
  • Last year, the government built a new pipeline for shale gas, reducing reliance on LNG imports. It also reversed a pipeline flow to supply Argentina's north with domestic shale gas, potentially enabling future exports to Brazil. However, crude oil exports offer a faster path to generate revenue for Argentina's struggling economy.
  • Will exploitation of unconventional gas & oil in Argentina be a problem?
  • Significant exploitation of unconventional gas and oil in Argentina in the next few years coupled with the high volatility of oil and gas markets is likely to generate a large number of wells that will need to be safely retired over the coming decades.
  • Are the costs to develop oil and gas in Argentina optimistic?
  • This makes them lower bounds for the potential costs, suggesting that the results presented below are optimistic with respect to the costs to develop oil and gas in Argentina. 3.3. Model data and scenario inputs