September 27th 2023
New doubled-up oil pipeline from Vaca Muerta to Puerto Rosales (Bahia Blanca)
National Holidays: Friday October 13th and Monday October 16th.
Grains and Markets:
Thailand is reported to be looking for a Supramax/Panamax of soya beans in December.
Iran is to return to the market for 180,000 tons of maize November-December.
Egypt are to call a tender for a Panamax of maize in January.
Tunisia will also be tendering for a Supramax (50,000 tons) of barley in November.
New doubled-up oil pipeline from Vaca Muerta to Puerto Rosales (Bahia Blanca):
According to information provided by Oldelval (the company that manages the pipeline from Vaca Muerta to Puerto Rosales (Bahia Blanca) the first stage of the expansion has been completed.
Explaining the advantages of the expansion a few interesting figures were placed forward.
Today total crude oil production stands at 600,000 barrels per day. Once the pipeline is completed it will be able to carry 300,000 barrels extra to Puerto Rosales (Bahia Blanca)
Export shipments are today handled by the SBMs at Punta Cigueña and Punta Ancla.
By the time the expansion is completed the construction of the new pier at Puerto Rosales will be completed as well as the expansion of the OilTanking facility onshore.
The sourcing of the crude is Vaca Muerta shale oil crude field in North Western Patagonia.
The whole expansion structure is forecast to be completed during the 1st quarter of 2025.
To this must be added the new pipeline and terminal to be constructed by YPF that will be located at Sierra Grande, further south of Bahia Blanca, that will also enhance crude exports.
All these expansions will convert Argentina into net exporter of crude oil in the long term.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
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