Argentina Key Figures
- Population:
- 46.7 million
- GDP growth rate:
- -1.6 %/year
- Energy independence:
- 100%
Data of the last year available: 2023
- Total consumption/GDP:*
- 85.1 (2005=100)
- CO2 Emissions:
- 3.54 tCO2/capita
- Rate of T&D power losses:
- 20.2%
* at purchasing power parity
View all macro and energy indicators in the Argentina energy report
Argentina Energy News
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Argentina Energy Research
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Argentina Total Energy Consumption
Per capita consumption in Argentina (1.7 toe/cap in 2023) is the third highest in South America after Chile and Guyana. These high levels are mainly due to space heating needs. Electricity demand per capita is around 2 700 kWh/cap (2023).
Total energy consumption decreased by 2% in 2023 to 80 Mtoe, back to its pre-COVID-19 levels. Total consumption increased regularly from 2007 to a peak in 2016 (82 Mt) and then decreased until 2020.
Interactive Chart Argentina Total Energy Consumption
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View the detailed fondamentals of the market at country level (graphs, tables, analysis) in the Argentina energy report
Argentina Crude Oil Production
Oil production has jumped by 10%/year since 2021, reaching 37 Mt in 2023. Previously, it had been falling regularly from a peak level of 46 Mt in 1998 to 28 Mt in 2021. Argentina is the 4th largest oil producer in South America after Brazil, Venezuela, and Colombia.
Crude oil exports increased as from 2021 to 8 Mt in 2023.
The refining capacity of 635 kb/d (2023) is shared between 11 refineries. In 2012, YPF inaugurated a new diesel hydrodesulfurization unit at its La Plata refinery. The US$304m investment raised the diesel production by 13%.
Interactive Chart Argentina Crude Oil Production
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Argentina Oil Products Consumption
Oil product consumption has increased by 5%/year since 2021, reaching 30 Mt in 2023. Previously, it decreased by 4.6%/year from 2015 to 2020.
Transport absorbs 46% of that consumption.
Graph: OIL CONSUMPTION (Mt)
Graph: OIL CONSUMPTION BREAKDOWN BY SECTOR (2023, %)
Interactive Chart Argentina Refined Oil Products Production
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Argentina Natural Gas Consumption
Natural gas consumption decreased by 7% in 2023 to 45 bcm. It follows the previous declining trend of around 2%/year since its peak in 2017. Prior to that, natural gas consumption increased at a rate of 1.8%/year from 2009 to 2017. Argentina is the largest gas consumer in South America, ahead of Brazil.
Electricity production absorbs 32% of that consumption, followed by the residential and tertiary sector, which consume 24%, and the industrial sector (20%). Transport represents 5% of gas consumption.
Graph: NATURAL GAS CONSUMPTION (bcm)
Interactive Chart Argentina Natural Gas Domestic Consumption
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Argentina Coal Consumption
Coal consumption is very low (1.5 Mt in 2023). Half of the coal is used for power generation, while the remainder is used in industry.
Graph: COAL CONSUMPTION (Mt)
Graph: COAL CONSUMPTION BREAKDOWN BY SECTOR (2023, %)
Interactive Chart Argentina Coal and Lignite Domestic Consumption
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View the detailed consumption trends at country level (graphs, tables, analysis) in the Argentina energy report
Argentina Power Consumption
Electricity consumption increased by 1.8% in 2023 to 127 TWh. It had been roughly stable since 2015, after a regular increase of 4.7%/year between 1990 and 2015.
The residential sector is the largest electricity consumer (39%), ahead of industry (34%) and services (25%). The services sector share has been largely stable since 2005, while households have been gaining share from industry.
Graph: ELECTRICITY CONSUMPTION (TWh)
Argentina Renewable in % Electricity Production
The Renewable Energy Act of 2015 sets the goal of increasing the share of renewables (apart from large hydro) to 20% of electricity production in 2025, with intermediate goals which were achieved (16% in 2021 and 18% in 2023). The law includes an obligation for large consumers (above 300 kW) to achieve these targets individually with fines on large electricity users that do not meet their target.
In 2016, a law created a fund aimed at financing or buying interests in renewable power projects and enabled power purchase agreements between renewable producers and large consumers.
Interactive Chart Argentina Share of Renewables in Electricity Production (incl hydro)
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Argentina CO2 Fuel Combustion/CO2 Emissions
In its updated NDC (2021), the country announced its aim of not exceeding 349 MteqCO2 of net GHG emissions by 2030, which is equivalent to a 19% decrease in emissions compared to the historical peak reached in 2007. During the COP26, the country further raised its mitigation target by not exceeding 349 MtCO2e in 2030 (-21% compared to 2007). The Long-Term Strategy (LTS, 2022) and the National Energy Transition Plan to 2030 (2023) confirmed the 2050 net zero target.