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OIL: Argentina to Export First Vaca Muerta Shale Crude Oil to India

OIL
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Argentina is set to export Vaca Muerta shale light sweet crude oil to India for the first time amid record production, according to Bloomberg sources. 

  • About 700kbbl of Medanito crude is expected to load around Jan. 8.
  • The cargo is due for delivery to Bharat Petroleum’s Mumbai refinery in February. BPCL typically buys light sweet oil from the US.
  • A shale drilling frenzy in Argentina has put the country on the verge of overtaking Colombia as a top three crude producer in South America. Neuquen basin output, comprising mostly Medanito crude, increased to 530k b/d in November, according to the energy secretariat.
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Argentina is set to export Vaca Muerta shale light sweet crude oil to India for the first time amid record production, according to Bloomberg sources. 

  • About 700kbbl of Medanito crude is expected to load around Jan. 8.
  • The cargo is due for delivery to Bharat Petroleum’s Mumbai refinery in February. BPCL typically buys light sweet oil from the US.
  • A shale drilling frenzy in Argentina has put the country on the verge of overtaking Colombia as a top three crude producer in South America. Neuquen basin output, comprising mostly Medanito crude, increased to 530k b/d in November, according to the energy secretariat.