How much natural gas is produced in Argentina?

An average of 5.0 billion cubic feet per day (Bcf/d) of natural gas was produced in Argentina over the first nine months of 2024, 5.2% more than the same period in 2023. In August, natural gas production averaged 5.4 Bcf/d, the most of any month in 21 years.

Why are oil and natural gas production rising in Argentina?

Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields.

How much oil does Argentina produce per day?

In September 2024, production averaged 738,000 barrels per day (b/d) of crude oil in Argentina, 15% more than in September 2023 and the most in any month since 2003. In September, oil produced in the Vaca Muerta formation accounted for 58% of the country’s total output, according to SESCO.

Why did Argentina's natural gas imports fall 47% in 2024?

Argentina’s natural gas imports via pipeline fell by 47% in the first nine months of 2024 compared with the same period in 2023. The decline was largely because pipeline imports from Bolivia, which made up around half of Argentina’s natural gas imports in 2023, ended in September 2024.

Which countries export crude oil to Argentina in 2023?

Argentina's primary destinations for crude oil exports in 2023 were the United States, Brazil, and Chile. The recent completion of the Vaca Muerta Norte Oil Pipeline helped facilitate exports to Chile.

Why is Argentina reversing Vaca Muerta pipelines?

Meanwhile, Argentina is investing in infrastructure to expand the distribution of natural gas from the Vaca Muerta formation to northern Argentina, including reversing pipelines designed for imports from Bolivia in order to export natural gas to Brazil.