The industry recorded an increase of 17.8% in March compared to the same month of last year when the social isolation measures imposed by the pandemic began to affect production. In seasonally adjusted terms, the sector recorded an improvement of 4.1% compared to February.
Argentina completed its accession to the Asian Infrastructure Investment Bank (AIIB), becoming the sixth Latin American country to accede to the organization created in 2014. The institution, led by China, aims to provide financing for infrastructure projects.
Vista Oil & Gas announced a 56% increase in its oil production in the first quarter of the year. Also, its latest balance sheet shows that it managed to reduce its operating costs by 6% compared to the last quarter of 2020, thanks to an improvement in its performance in the Vaca Muerta formation.
The conflict in Vaca Muerta generated losses close to $500 million, the country will have to spend on imported LNG, the gas production that could not be used and taxes that will not be collected by the provincial government. Besides, it affects the image of the Neuquén formation in the eyes of future investors.
The country ranked second to last in statistical analysis by Bloomberg of 53 nations. To carry out the survey, only those economies whose GDP exceeds USD 200 billion were analyzed. They took a large amount of data and taken into account parameters to determine where the pandemic is being fought most effectively, i.e. with the least social and economic consequences.