Page 4 - LatAmOil Week 36 2022

LatAmOil COMMENTARY LatAmOil

Economy Minister Massa (L) and Energy Minister Royon (C) were both in Washington this week (Photo: Twitter/@SergioMassa)
Argentina offers to

help “fuel the world”

The South American state is talking once again about its potential to become an
oil and gas exporter, but it is not in a position to realise its ambitions just yet

ARGENTINA’S Economy Minister Sergio to fuel supplies. Argentina is a net energy
Massa declared this week that his country was importer, as it does not produce enough crude
WHAT: ready to help fill some of the world’s biggest oil, natural gas or petroleum products to cover
Argentina’s economy resource gaps by boosting its output of food its needs at current rates of consumption.
minister says his country crops and hydrocarbon fuels. This boldness is understandable, though,
can help cover food and “We are going to contribute to the global under the circumstances.
fuel supply gaps. food and fuel security agenda by increasing our
production of energy and proteins,” Massa told Realisation of potential
WHY: the Financial Times during a state visit to Wash- On the one hand, Massa was in Washington
The South American state ington on September 6. with the aim of firming up new contracts with
has sizeable reserves The minister, who was appointed to his post US companies and attracting potential part-
but is still a net importer last month and given wide authority to reshape ners to new investment projects, so it was in his
of fuel.
Argentina’s shaky economy, has apparently interest to play up the opportunities available in
WHAT NEXT: made similar offers to the US government. An Argentina, as well as the country’s rich natural
Vaca Muerta’s anticipated Argentinian official told US State Department resource endowments.
potential will take several officials at a meeting on September 6 that Massa And those endowments are considerable.
years to realise. had said his country was ready to help “feed and The South American state is not just a producer
fuel the world.” of grain, soy, oil and gas; it also has sizeable
This is a bold pledge, especially with respect reserves of lithium and other valuable minerals.

P4 www. NEWSBASE .com Week 36 08•September•2022