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LatinNews Regional Monitor: Brazil & Southern Cone - 5 June 2018

In brief: Argentina

Argentina: Argentina’s mining & energy ministry has announced that in April natural gas production in the country was the highest in any month since 2009. The year-on-year increase in the output of gas from April 2017 to April 2018 stood at 4.8% and gas production in the first quarter of 2018 amounted to 126.1m cubic metres a day, the highest since 2010. The implications of this increase in natural gas production, according to the ministry, will include a reduction in both liquified natural gas imports and liquid fuel consumption which is more costly for generating energy. The ministry also recorded year-on year-increases in production of unconventional gas, oil and unconventional oil in April, which amounted to 29.6%, 7.2%, and 42.3% respectively. The average daily oil production in the first four months of 2018 stood at 484,400 barrels per day (bpd) which constitutes an increase of 4.9% compared to the daily average of 461,900bpd produced in the same period in 2017.

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