Argentina’s energy needs draw fuel tankers from around the globe

9 Jun 2016   Argentina

A flotilla of 21 fuel tankers from Europe, the Caribbean, Brazil and the United States is steaming toward Argentina as it ramps up imports of gasoil and liquefied natural gas to record levels this year, according to its new government and Thomson Reuters data. Still a long way from regaining the energy self-sufficiency lost in 2010, the South American country has bought 49 cargoes of LNG so far this year and will buy 90 in all, a spokesman for the Energy Ministry told Reuters this week. (Graphic: tmsnrt.rs/1PhN53Y ) According to the results of tenders seen by Reuters, major oil companies are competing for a lucrative slice of market share during a years-long “transition” period that will last until Argentina boosts domestic oil and gas output significantly by developing vast new shale reserves in the Vaca Muerta formation. (Graphic: tmsnrt.rs/1rds7x6 ) “Investment in exploration has resumed, but it will […]

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