[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 9 sources · 21 days · First seen · Last updated

YPF departure and hydrocarbon activity in Santa Cruz

Overview

Following the departure of YPF from conventional hydrocarbon fields in Santa Cruz after over eight decades, the province has experienced a significant decline in oil production and hydrocarbon activity. Oil production fell by 6.1% in July compared to the previous month, and the province’s share of national crude production dropped to 7.5% in the third quarter of 2025. Additionally, private employment in the sector saw a 16.1% decrease between late 2023 and mid-2026.

In response to these shifts, the provincial government launched the ‘Más producción y trabajo’ program, offering royalty schemes to 14 operators to encourage development in mature fields.

Concurrently, the Minister of Energy and Mining, Jaime Álvarez, addressed concerns regarding environmental liabilities left by YPF. Álvarez stated that the company has assumed responsibility for remediation following a six-month study conducted by the Cricyt Foundation and audited by the University of Buenos Aires. The Minister defended the current assessment timeline, noting that the liabilities are the result of decades of insufficient legislative enforcement between 1991 and 2023.

Entities

Santa Cruz · Jaime Álvarez · YPF · Chubut · CONICET

Timeline

  1. [BUSINESS] 3 sources
    Santa Cruz hydrocarbon activity declines after YPF departure

    Santa Cruz reports a decline in hydrocarbon activity and oil production following YPF's exit from its conventional fields, with only 17 wells completed in the first seven months of the year.

  2. [BUSINESS] 6 sources
    Santa Cruz Minister addresses YPF environmental liabilities

    Santa Cruz Energy Minister Jaime Álvarez defended the ongoing assessment of YPF's environmental liabilities, noting the scale of 82 years of operations and the company's responsibility for remediation.

Sources

bankmagazine.com.ar · deultimominuto.net · diariolavozdelchaco.com · eldiariodemadryn.com · elmonterizo.com · lv7.com.ar · revistapetroquimica.com · rionegro.com.ar · tiemposur.com.ar