Argentinian Oil Production Continues to Fall
Argentina’s oil and gas production fell in 2009 compared with the previous year, marking the third consecutive annual decline since 2006. In 2009, oil production fell 4.3% and gas production dropped by 3.7%, to 622,949 barrels per day (bpd) and 48.41bn cubic metres (bcm), respectively – according to the Argentine Energy Secretariat.
Significantly, the oil production figures are worse than what was expected by industry professionals. Output figures estimated by the BP Statistical Review of World Energy, back in June of last year, Argentina’s oil was forecast 682,000 bpd.
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