Argentina hits highest monthly crude output in over a decade
Argentina pumped more crude oil in April than in any month since 2011, the energy ministry said on Friday, with much of the increased production coming from the South American country’s massive shale fields.
Crude output in April averaged 578,000 barrels per day (bpd), with slightly more than 40% of the total coming from the Vaca Muerta shale fields, the fourth largest shale reserve in the world, located in Neuquen province in northern Patagonia.
Argentina is a mid-sized oil and gas producer, behind regional giants Brazil, Mexico and Colombia. It is planning new pipelines to better distribute Vaca Muerta’s growing output, led by national oil company YPF.
Natural gas production in April reached about 127 million cubic meters per day, up 12% from the same month last year, the energy ministry said.
Source: Reuters (Reporting by Maximilian Heath; Writing by Carolina Pulice; Editing by David Alire Garcia and Richard Pullin)