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Economy & Business - March 2011 (ISSN 1741-7430)

OIL : Argentina's problem

Eight former Argentine energy ministers issued a public warning about country's declining oil and gas production in March. The eight (Emilio Apud, Julio César Aráoz, Enrique Devoto, Roberto Echarte, Alieto Guadagni, Jorge Lapeña, Daniel Montamat and Raúl Olocco) pointed out that both reserves and production had fallen year-on-year between 2003 and 2010. The ministers noted that Argentina was the only oil producer in South America where both production and reserves were in steady decline.

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