Canadian Oil Co Petrolifera Announces Big Argentina Find

Petrolifera Petroleum Ltd. (PDP.T), a small Canadian oil company with interests in South America, has announced what is likely the biggest oil and gas find in Argentina since the 1990s.

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The discovery comes at a time when Argentina’s oil and gas fields are said to be maturing and as looming gas shortages have raised the prospect of an energy crisis. Strong economic growth has greatly boosted Argentine demand for energy since its financial crisis of 2001 and 2002, raising concerns about Argentina’s declining domestic production.

Schlumberger