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(Reuters) - Argentina is planning to give tax and customs benefits to oil companies so they can boost production, the country's new economy "superminister" said on Thursday. The move comes as the country seeks to turbo-charge investments in the Vaca Muerta shale formation, the world's fourth-largest shale oil reserve and the second-largest for shale gas.... Continue Reading →
(Rigzone) Drilling and completion activity in South America is expected to peak this year after a significant slowdown in 2020 due to the global demand destruction brought on by the Covid-19 pandemic, Rystad Energy claimed. According to Rystad, the rebound is more pronounced for offshore wells, primarily driven by an uptick in activity in Brazil... Continue Reading →
(Reuters) - Argentina's peso surpassed the psychological barrier of 300 pesos per U.S. dollar in the black market on Tuesday, hitting a record low as it traded down 3% from the previous day as both businesses and individuals hold on to scarce greenbacks. The peso's latest downward slide comes amid growing doubts over the near-term... Continue Reading →
(Reuters) - Argentina will take a key step on Friday in the construction of a major new natural gas pipeline for its huge Vaca Muerta shale formation, vital to helping the South American country reverse a deep energy deficit that is costing it billions of dollars. The government, rattled by a recent shakeup in the... Continue Reading →
(Reuters) - Argentina's economic alarm bells are ringing loudly with fears of a global recession and spiraling inflation stoking investor fears over possible defaults, missed targets with the International Monetary Fund (IMF) and political unrest. The South American country, an important global supplier of soybeans, corn and wheat, has seen its bonds sink to record... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq rate by 300 basis... Continue Reading →
(Reuters) - Argentine state company Energia Argentina signed a contract Thursday with pipeline producer Tenaris (TENR.MI), a critical step toward the completion of a pipeline to transfer gas from Argentina's giant Vaca Muerta shale formation. The government says the pipeline will allow Argentina to forgo costly imports of liquefied natural gas and reverse a large energy... Continue Reading →
(Reuters) - The International Monetary Fund (IMF) said Wednesday it had reached a staff-level agreement on an updated macroeconomic framework with Argentine authorities, allowing the country access to about $4.03 billion. The IMF said in a statement that the country had met all quantitative targets in the first quarter and that annual objectives remained unchanged,... Continue Reading →
(Reuters) - Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, the government said late on Friday. Companies have until July 8 to submit bids, according to a publication in Argentina's official gazette. The... Continue Reading →
(Reuters) - The United States exported 7.29 million tonnes of liquefied natural gas (LNG) last month, second highest on record, as sales to Europe and South America expanded, according to Refinitiv Eikon data. The United States is on track to become the world's largest LNG exporter this year, topping Australia and Qatar, as producers work... Continue Reading →
Brazil Energy Insight 