LatinNews Daily - 22 February 2022

In brief: Argentina hails highest oil production since 2011

* Argentina’s energy ministry has released new figures which show that oil production in January 2022 hit 570,000 barrels per day (bpd), the highest monthly figure since December 2011. The January figure was up 2% on December 2021 and up 15% on the same month the previous year. According to the energy ministry figures, this was driven by output from unconventional oil production, with shale oil production totalling 224,000 bpd, up 61% year-on-year. The energy ministry also reported significant year-on-year growth in January for Argentina's unconventional gas production which was up 42% year-on-year to reach 69m cubic metres per day. Argentina’s unconventional oil and gas production is concentrated in the ‘Vaca Muerta’ shale oil and gas fields, said to contain the world’s second largest shale gas deposits, located in the southern Patagonia area.

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