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STXNEWS LATAM-Argentina's YPF studies refinery project
November 2, 2012 / 11:11 PM / 5 years ago

STXNEWS LATAM-Argentina's YPF studies refinery project

Nov 2 (Reuters) - Argentina’s state-controlled energy company YPF is evaluating the construction of a new refinery that would have the capacity to process about 200,000 barrels per day (bpd) of crude oil.

The refinery’s first set of facilities would be up and running by 2018 or 2019, while a second set would be operational in 2023, said Daniel Palomeque, head of the company’s La Plata refinery. An industry source with knowledge of the project said the first stage wou l d require a roughly $7 billion investment.

Palomeque told participants at a conference in Buenos Aires that YPF aims to invest $12.5 billion in refining and logistics in the next five years. The company had already said it seeks to invest about $7 billion a year through 2017 to boost Argentina’s flagging oil and natural gas production.

YPF operates three of the country’s biggest oil refineries: La Plata, which has a capacity of 180,000 bpd; Lujan de Cuyo, with 106,000 bpd; and Plaza Huincul, with 25,000 bpd.

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