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RnRMarketResearch.com adds “Argentina Oil and Gas Report Q1 2013” new market research report to its store.
Dallas, TX (PRWEB) December 28, 2012
The renationalisation of YPF and subsequent ‘aggressive but realistic’ strategic investment plan set out by the company is the new driving force behind Argentina’s energy sector. While foreign interest in the country’s shale potential exists, as evidenced by Chevron’s recent entrance, we remain bearish on the sector and its prospects for receiving much-needed foreign investment. We expect production at existing fields to remain high into 2013, primarily on the back of continued pressure on YPF to produce since its nationalisation. Further changes to our forecasts, including reserves and refining capacity, will come when the implementation of the five-year plan begins in earnest.
The main trends and developments we highlight in the Argentine oil and gas sector are:
At the time of writing we assume an OPEC basket oil price for 2012 of US$107.05/bbl, falling to US$99.10/bbl in 2013. Global GDP in 2012 is forecast at 3.2%, up from an assumed 3.1% in 2011, reflecting slowing growth in China and uncertainty with regard to the eurozone debt situation. For 2013, global GDP growth is estimated at 3.7%.
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