Oil companies in Argentina are obligated to maintain production, payrolls, and investment and cannot repatriate profits under a decree that establishes above-market prices for domestic crude. The decree published on Tuesday sets a minimum price of US$ 45/bl for domestic sales of light sweet Medanito crude.
YPF, the largest oil and natural gas producer in Argentina, is focusing on shale oil for production growth as a glut slows natural gas output, managers at the state-backed company said Friday.
Qatar Petroleum (QP) has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced on Tuesday by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018.