DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/8e3ef1/argentina_oil_and) has announced the addition of the "Argentina Oil and Gas Report Q4 2011" report to their offering.
The latest Argentina Oil & Gas Report from BMI highlights the challenges facing the country's energy sector.
BMI forecasts that oil production will fall from 748,650 barrels per day (b/d) in 2010 to 714,050b/d in 2015, while oil consumption is expected grow quickly on the back of strong economic growth to just over 716,000b/d in 2015. The oil supply and demand trends mean that Argentina will go from being a net exporter of about 130,650b/d of oil in 2010 to a small net importer by 2015.
The country's gas sector faces similar challenges. Gas production is forecast to be roughly flat, falling just slightly from 41.36bcm to38bcm in 2015. Gas consumption, meanwhile, is expected to grow rapidly from 43.46bcm in 2010 to nearly 52bcm by 2015, requiring imports to quadruple from 3.38bcm in 2010 to 13.86bcm in 2015.
The long-term trends do not look any more favourable as Argentina's oil and gas import dependence is forecast to grow over the latter half of the decade, with oil output falling steadily to 645,450b/d by 2020. While production is expected to continue its decline, oil consumption is forecast to continue rising to 756,630b/d in 2020, implying an import requirement of just over 111,000b/d in 2020.
Gas import requirements are also expected to increase in the latter half of the decade. Gas production is expected to rise slightly, hitting a high of 41bcm in 2019 before falling back to 40bcm in 2020, but will not keep up with consumption. With demand set to rise to around 63bcm by 2020, 45% higher than 2010, net imports are expected to rise to almost 23bcm by 2020. Details of BMI's 10-year forecasts can be found at the end of this report.
Companies Mentioned:
- Repsol YPF
- Petrobras Energa
- Chevron Argentina
- Total Austral
- ExxonMobil
- Shell Compaa Argentina de Petrleo
- BG Group
- Apache Energa
- Sinopec/Occidental
- Bridas/PAE
- Otto Energy
For more information visit http://www.researchandmarkets.com/research/8e3ef1/argentina_oil_and