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LatinNews Daily - 24 September 2019

In brief: Argentina’s oil & gas reserves up due to non-conventionals

* Argentina’s ministry of energy & mines (Minem) has reported an increase in its proven reserves of oil and natural gas, attributing this to contributions made by non-conventional reserves. According to government data, oil and natural gas reserves grew significantly in 2018, with oil reserves growing by 18.45% compared with the previous year to a total 2.39bn barrels, and natural gas reserves increasing 4.53% to 371.57bn m3. The government has noted that this can be principally explained by an increase in proven reserves of non-conventional hydrocarbons, which have grown 32.8% in the case of natural gas and 191.9% in the case of oil. Production is also increasing, with Minem’s most recent data, based on the declarations of Argentina’s energy companies, revealing that in July 2019, natural gas production increased 9.3% and oil production increased 4.4% compared with July 2018.

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