CGC buys local unit of China’s Sinopec

Argentine energy firm Compañía General de Combustibles (CGC) said it had acquired the local operation of China’s Sinopec Group, helping it increase its production to over 50,000 barrels of oil equivalent per day

Gov’t sets local crude oil reference price at u$s45 per barrel

The national government set the local crude oil reference price at u$s45 per barrel, in a bid to protect the country’s hard-hit sector from the impact of the coronavirus pandemic and low global prices

‘Criollo’ barrel may return due to the crisis

The crisis unleashed by the Coronavirus pandemic and the collapse of the international oil prices reactivated the debate on a new implementation of the so-called “Criollo barrel”

Oil demand plummets up to 85%

The preventive and compulsory social isolation ordered by the national government had an immediate effect on fuel demand, and oil and petrol stations registered an initial drop in sales of up to 85% across the country