Argentina Oil & Gas Q1 2021
The short-term outlook for Argentina's oil and gas industry has been considerably weakened by the Covid-19 pandemic,exacerbating an already challenging operating environment. Nationwide lockdown restrictions aimed at curbing the spread ofCovid-19 have resulted in a significant fall in fuel consumption, while also disrupting oil and gas production. Lower global oil pricesmean most oil companies, including state-led YPF and key players such as Chevron and ExxonMobil, have lowered capitalexpenditure plans for the market, contributing to Argentina's economic challenges. President Alberto Fernández does howeverappear increasingly committed to the expansion of the oil and gas sector which could result in new investment incentives beingintroduced.
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