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Montevideo, December 7th 2016 - 20:15 UTC

Argentina on the verge of “unprecedented energy shortage”, say former ministers

Wednesday, February 15th 2012 - 05:32 UTC
Full article 51 comments
Since Nestor Kirchner took office in 2003 oil and gas reserves have been eroding Since Nestor Kirchner took office in 2003 oil and gas reserves have been eroding

Argentina’s Energy Institute, IAE, warned that the country faces an “unprecedented energy crisis” with strong drops in hydrocarbons reserves, production and the loss of self sufficiency.

IAE made up of former Energy ministers said in a release that the current energy situation in Argentina is no surprise: it was expected since there are “no long term policies for the industry, a total lack of planned strategy and an inadequate implementation of serious policies”.

According to IAE since Nestor Kirchner took office in Argentina in 2003 and until 2010, oil reserves dropped 6% and natural gas 41%. In the same span of time oil production fell 18% and gas, 7%.

“We have become net importers of natural gas, fuel oil and gas oil with demand and tendencies increasing which presents an unprecedented and unsustainable fiscal effort plus an accumulation of social demands still unsatisfied”.

IAE proposes an integral auditing of all exploitation concessions and hydrocarbons exploration licenses, debating a new Hydrocarbons bill and creating a new national oil corporation to manage the State’s interests.

The document follows a recent attack from President Cristina Fernandez on oil companies, particularly YPF, Argentina’s largest, for the alleged lack of investments to help a greater production of hydrocarbons.

 

Categories: Economy, Energy & Oil, Argentina.

Top Comments

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  • Mrlayback

    Yep and this headline dont help you love:

    Argentine labour accuses CFK of “escalating repression” and endangering human rights policy

    She`s really got her work cutout to convince the people that the falkland Island is the answer, its like an alcoholic trying to convince a therophist that the answer lies right at the bottom of the bottle.

    Feb 15th, 2012 - 06:52 am 0
  • BenC30

    “She's really got her work cutout to convince the people that the falkland Island is the answer, its like an alcoholic trying to convince a therophist that the answer lies right at the bottom of the bottle”

    Couldn't have put it better myself!

    Feb 15th, 2012 - 08:15 am 0
  • ElaineB

    “no long term policies for the COUNTRY, a total lack of planned strategy and an inadequate implementation of serious policies”.

    Sums up the way CFKC manages the country.

    I was near Cordoba last winter and there was a very serious shortage of energy for heating. I am guessing it will only get worse this year.

    Feb 15th, 2012 - 11:24 am 0
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