(Energy Analytics Institute, Aaron Simonsky, 10.Mar.2020) — Officials from Argentina’s Neuquén Province has requested formal meetings be held with the Energy Secretariat of Argentina’s government and authorities of hydrocarbon-producing provinces of the South American country to discuss a possible floor oil price that would support hydrocarbon activities.
“The price we are thinking of would be $50 per barrel or a little more,” said Neuquén Province Energy and Natural Resources Minister Alejandro Monteiro in an official statement on 10 March 2020.
The Province of Neuquén plans to request the national government set a minimum support price for a barrel of oil in the face of the sudden fluctuations suffered by international prices, following the drop in world economic activity due to outbreak of the coronavirus pandemic, the provincial government said in the statement.
“Our government acted quickly because what we seek is to give continuity to hydrocarbon activities to preserve employment, production and investments,” Neuquén Governor Omar Gutiérrez assured in the statement.
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