Argentina Oil and Gas Downstream Market Size (2024 - 2029)

Argentina Oil and Gas Downstream Market Size Summary

The oil and gas downstream market in Argentina is poised for modest growth, driven by increasing natural gas demand and rising oil production. The country's shale play, particularly Vaca Muerta, is significantly enhancing production levels, which is expected to bolster the domestic refining capacity. Despite challenges such as declining oil consumption due to economic factors, the market is seeing optimistic prospects for refineries. Investments in both upstream and downstream activities are anticipated to create substantial opportunities, with a focus on expanding refinery and petrochemical plant capacities. This growth trajectory is supported by the expansion of facilities like the Campana Refinery and potential capacity increases at the La Plata refinery.

The market landscape is moderately consolidated, with key players including Axion Energy, Yacimientos Petrolíferos Fiscales SA, Pan American Energy SL, Pampa Energia SA, and Raizen SA. The decline in natural gas imports, coupled with a significant rise in domestic production, underscores the shifting dynamics in Argentina's energy sector. The increase in shale gas production is a critical factor in this transformation, contributing to a recovery in oil and gas production and enhancing refinery throughput. As a result, the oil and gas downstream sector is expected to experience gradual growth, supported by these strategic developments and investments.