The state company Trenes Argentinos Cargas transported 15% more tons of production during 2020. Sixty-five per cent of the volume of traffic is grain, but they have also expanded the movement of products from regional economies.
The Argentine Chamber of Steel reported that production grew 19% year-on-year in December. The sector's momentum explained by the upturn in construction, the exploitation of hydrocarbons and the increased demand for durable goods.
The state oil company YPF announced a 3.5% average adjustment to its fuel prices, starting at midnight this Saturday. This increase includes the increase of the Liquid Fuels Tax (ICL) and the Carbon Dioxide Tax (IDC) of 7.7% that came into effect from this Friday, as provided by the national government.
YPF and Equinor agreed on Shell's entry as a third partner of the offshore block CAN100, located in the Northern Basin of the Argentine Sea. After this operation, Equinor (operator of the area) and YPF will divide 70% of the block into equal parts, and Shell will enter with the remaining 30%. The block locates in water more than 1,500 metres deep that has never been explored or drilled in the country before.
After the restrictions imposed by the pandemic, the construction sector began to gather pace in recent months, and today, 71% of the works are in normal development. Activity grew 6.2% year-on-year and 7.2% concerning the previous month.
The industry's installed capacity utilization was 63.3% in November, 2.6 percentage points higher than the 60.7% of the same month in 2019 and almost 3 points higher than last February, before the pandemic. In this way, the use of installed capacity measured by the INDEC in November marked its best result in the previous two years.
BBVA issued the first green bond of Petroquímica Comodoro Rivadavia (PCR) for a total issue of $50 mn. The project is qualified as "green" for contributing to ODS 7 (Affordable and Non-Polluting Energy) and ODS 13 (Climate Action). The qualification based on funds linked to renewable energy projects for implementing the San Jorge and El Mataco wind farm, related to the renewable energy sector, with clear environmental benefits.
The international price of maize is $206.5 per ton, the highest in almost eight years. The sharp cut in the US production estimate and growing Chinese demand pushed up prices. The yellow grain entered the public arena in these 15 days due to the government's suspension of exports until March, an issue that triggered a marketing halt by three of the four entities of the Mesa de Enlace and a strike, so the measure was left without effect yesterday by the same government.
Yesterday soybean's international price closed at $524.4 on the Chicago market, thanks to a rise of almost $20 in the day, which managed to accumulate a year-on-year increase of 47% and revalue the foreign currency income of the soybean complex by more than $4 billion. Thanks to the rise in commodities, foreign currency income would be around $36 billion. Projections show that thanks to the increase in grain prices, the government will collect more than $2.4 billion than budgeted in taxes.
The Manantiales Behr field, operated by YPF in the province of Chubut, reached a production record by adding 3,747 cubic meters per day (m3/d) in December, the highest volume in 90 years of activity.