A working meeting took place today between Alexey Miller, Chairman of the Gazprom Management Committee and Debora Giorgi, Industry Minister of the Argentine Republic as part of the 4th St. Petersburg International Gas Forum.
The meeting participants looked at the development prospects for the bilateral cooperation in the gas sector, with an emphasis on exploration and production of gas from Argentine gas fields. Consideration was also given to supplies of liquefied natural gas from Gazprom Group's portfolio to the country.
Argentina's proven natural gas and oil reserves average 300 billion cubic meters and 300 million tons accordingly. In 2013 Argentina produced nearly 35.5 billion cubic meters of natural gas and 30.5 million tons of oil and consumed 48 billion cubic meters and 29.4 million tons accordingly.
In 2013 Gazprom Marketing & Trading won an international tender for the supply of 15 LNG cargoes with a total volume of one million tons from Gazprom Group's portfolio to Argentina between 2014 and 2015.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.