Argentina Oil & Gas Report

Providing expert analysis, independent forecasts and competitive intelligence on the oil and gas industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Oil & Gas Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles, Competitive Landscape and Global and Regional Overview.

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Argentina Oil & Gas Report
Product Price
$1,295.00

BMI View: Highly p rospective acreage, a strengthening competitive landscape and supportive pricing dynamics will help insulate the Argentine shale sector from aggressive clawbacks in industry spending. A shift toward a more centrist government under the newly inaugurated Macri administration will open up significant investment opportunities in Argentina, particularly within the oil and gas sector. As such, t he core Neuquen shale province will experience increased development over the course of the next decade , although more peripheral shale formations could take longer to develop .

Headline Forecasts (Argentina 2014-2020)
2014 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: EIA, BMI
Crude, NGPL & other liquids prod, 000b/d 701.3 705.7 714.3 724.2 735.8 754.4 779.2
Refined products production, 000b/d 665.1 638.5 606.6 615.7 621.8 628.0 640.6
Refined products consumption & ethanol, 000b/d 810.2 824.2 831.5 881.6 950.1 1,039.1 1,172.8
Dry natural gas production, bcm 37.3 38.6 39.7 41.1 42.5 44.5 46.5
Dry natural gas consumption, bcm 45.5 45.9 45.5 46.4 47.8 49.2 50.9
Brent, USD/bbl 99.50 53.60 40.00 53.00 62.00 65.00 71.00

The main trends and developments we highlight in the Argentine oil and gas sector are:

  • Argentine real GDP growth will begin to accelerate starting in H216 following a sharp contraction in the first half of the year, as the economy benefits from the economic reforms pushed through by President Mauricio Macri. These policies will erode short-term private consumption but will usher in a period of more robust long-term growth, benefiting upstream development of both oil and natural gas resources.

  • Argentinean shale prospects will be resilient in the face of volatility in oil prices as low commercial breakevens and vast proven reserves will encourage continued investment into the sector thanks to an improving regulatory environment

  • Extended subsidies for Argentine crude exports announced on March 11 will help fund extraction of heavier domestic grades by key producers through Q216, mitigating the effects of a broad industry downturn. The policy strengthens President Macri's commitment to the industry, underpinning our upbeat outlook for the year.

  • Natural gas re-exports from Chile to Argentina in 2016 mark a critical turning point in energy relations between the two countries. Trade will be supported by key infrastructure expansions in Chile, the US, and Panama and will provide Argentina with up to 5.5mn cubic metres per day (mcm/d) of natural gas through the five-month winter season from May through September, supporting a seasonal uptick in demand amid a continued deficit of domestic supplies.

  • The victory of Mauricio Macri will boost the growth prospects of the country's power market and demand for natural gas feedstock. Macri's ability to bolster investor confidence in the market, along with his plan to cut electricity subsidies and reduce state control over the energy sector, supports this view.

BMI Industry View
7
Table: Headline Forecasts (Argentina 2014-2020)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Latest Updates
11
Structural Trends
11
Table: 2014 Amended Hydrocarbons Law
12
Upstream Projects
16
Table: Argentina - Key Upstream Projects
16
Upstream Production - Oil
18
Latest Updates
18
Structural Trends
18
Table: Oil Production (Argentina 2014-2019)
22
Table: Oil Production (Argentina 2020-2025)
22
Upstream Production - Gas
23
Latest Updates
23
Structural Trends
23
Table: Gas Production (Argentina 2014-2019)
26
Table: Gas Production (Argentina 2020-2025)
26
Refining
27
Latest Updates
27
Structural Trends
27
Table: Refined Products Consumption (Argentina 2014-2019)
29
Table: Refined Products Consumption (Argentina 2020-2025)
29
Refined Fuels Consumption
30
Latest Updates
30
Structural Trends
30
Table: Refined Products Consumption (Argentina 2014-2019)
32
Table: Refined Products Consumption (Argentina 2020-2025)
33
Gas Consumption
34
Latest Updates
34
Structural Trends
34
Table: Gas Consumption (Argentina 2014-2019)
38
Table: Gas Consumption (Argentina 2020-2025)
38
Trade - Oil
39
Latest Updates
39
Structural Trends
39
Table: Crude Oil Net Exports (Argentina 2014-2020)
41
Table: Crude Oil Net Exports (Argentina 2020-2025)
41
Latest Updates
41
Structural Trends
41
Table: Refined Fuels Net Exports (Argentina 2014-2019)
42
Table: Refined Fuels Net Exports (Argentina 2020-2025)
43
Trade - Gas (Pipeline and LNG)
44
Latest Updates
44
Structural Trends
44
Table: Gas Net Exports (Argentina 2014-2019)
47
Table: Gas Net Exports (Argentina 2020-2025)
47
Industry Risk Reward Ratings
48
Latin America - Oil & Gas Risk/Reward Index
48
Table: Latin America - Composite Risk/Reward Index
48
Composite RRI: Industry Downturn Weighs On Regional Performance
49
Upstream: Few Shifts, But Changes Loom
50
Table: Latin America - Upstream Risk/Reward Index
51
Downstream: Medium-Term Outlook Reinforces Current Dynamics
53
Table: Latin America Downstream Risk/Reward Index
55
Argentina - Risk/Reward Index
56
Upstream Index
56
Downstream Index
57
Market Overview
58
Argentina Energy Market Overview
58
Overview/State Role
58
Licensing And Regulation
59
Government Policy
60
Licensing Rounds
60
International Energy Relations
61
Oil And Gas Infrastructure
65
Oil Refineries
65
Table: Refineries In Argentina
65
Service Stations
67
Oil Terminals/Ports
67
Oil Pipelines
67
LNG Terminals
67
Gas Storage
68
Gas Pipelines
68
Competitive Landscape
71
Competitive Landscape Summary
71
Table: Key Players - Argentine Oil And Gas Sector
73
Table: Key Upstream Players
73
Table: Key Downstream Players
74
Company Profile
75
YPF
75
Latest Updates
75
Table: Table - Key Assets In Argentina
76
Table: Table - Key Financial Metrics, USDmn
76
Chevron
78
Latest Updates
78
Table: Table - Major Assets In Argentina
79
Table: Table - Key Financial Metrics, USDmn
80
ExxonMobil
81
Latest Updates
81
Table: Table - Major Assets In Argentina
82
Table: Table - Key Financial Metrics, USDmn
82
Regional Overview
84
Latin America Overview
84
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025
93
Glossary
95
Table: Glossary Of Terms
95
Methodology
97
Industry Forecast Methodology
97
Source
99
Risk/Reward Index Methodology
99
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
101
Table: Weighting
102

The Argentina Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for Argentina including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Argentina Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Argentinian oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Argentina to test consensus views - a key input for successful budgeting and strategic business planning in the Argentinian oil and gas market.
  • Target business opportunities and risks in the Argentinian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Argentina.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.