Arab Today, arab today argentine shale oil find its biggest yet
Last Updated : GMT 12:00:04
Arab Today, arab today
Arab Today, arab today

Argentine shale oil find its biggest yet

Arab Today, arab today

Arab Today, arab today Argentine shale oil find its biggest yet

Buenos Aires - Upi

Argentina\'s latest oil discovery is the biggest yet in the Latin America and puts the country\'s southern Patagonia region on the map as a potential new energy hub on the continent. Recent economic growth, mostly fueled by commodities exports, has propelled increased activity in both business and industry and given consumers more spending power and hunger for electricity-intensive lifestyle. But falling oil production has been a recurring theme in government pronouncements on Argentina\'s future energy strategies. Argentina is also building a third nuclear power station to feed into the national grid and has plans to build another two over the next decade. The discovery of hydrocarbon deposits of 927 million barrels of oil equivalent was made by YPF, the Argentine company owned by Spain\'s Repsol YPF S.A. The find at YPF Loma La Lata property in the southern Neuquen province would help make up the shortfall in Argentina\'s oil production and also encourage more investors to become involved in the country\'s energy industry, analysts said. However, government intervention has discouraged investors in the past. YPF\'s crude production over the past three years has dropped to 107 million barrels in 2010 from 111 million a year earlier and 115 million in 2008. Rising fuel imports were behind earlier government pronouncements about stepped up exploration and more dependence on nuclear power, contrary to international trends since the Fukushima disaster in March. YPF began exploring and developing unconventional energy resources in Argentina in 2007 and made known its first findings last year with a shale gas discovery at Loma La Lata, about 746 miles southwest of Buenos Aires. Argentine President Cristina Fernandez de Kirchner said the latest oil discovery boosted Argentina\'s total reserves by about 6 percent. Argentina\'s proved petroleum reserves are known to exceed 2.62 billion barrels of oil equivalent. A U.S. Department of Energy report showed that Argentine natural gas reserves trapped in shale rock could exceed all of European reserves of shale hydrocarbons and make a significant impact on Latin America\'s energy scene. Shale oil is a sedimentary rock that contains a solid mixture of organic chemical compounds that yield liquid hydrocarbons. However, extracting shale oil from oil shale is costlier than the production of conventional crude oil. Shale oil extraction is also controversial because of its impact on the environment, water consumption, and waste disposal, greenhouse-gas emissions and air pollution. Shale oil development is in various stages of development in both Canada and the United States. Brazil, China, Estonia, Germany, Israel and Russia have moved ahead with exploiting shale oil.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today argentine shale oil find its biggest yet Arab Today, arab today argentine shale oil find its biggest yet

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday