Argentina Key Figures
- Population:
- 45.8 million
- GDP growth rate:
- 10.3 %/year
- Energy independence:
- 95.0%
Data of the last year available: 2021
- Total consumption/GDP:*
- 92.3 (2005=100)
- CO2 Emissions:
- 3.59 tCO2/capita
- Rate of T&D power losses:
- 13.6%
* at purchasing power parity
View all macro and energy indicators in the Argentina energy report
Argentina Related News
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Argentina Related Research
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Total Energy Consumption
Per capita consumption in Argentina (1.7 toe/cap in 2021) is the second highest in South America after Chile. These higher levels are mainly due to space heating needs. Electricity demand per capita is around 2 850 kWh/cap (2021).
Total energy consumption rebounded by 7% in 2022 to 80 Mtoe, back to its pre-COVID-19 levels. Total consumption previously decreased from a peak of 82 Mtoe in 2017 and 2019.
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
Crude Oil Production
Oil production rebounded by 12% in 2021 to 25 Mt (at pre-COVID 19 levels), after a 5% decline in 2020.Previously, it had been falling regularly from a peak level of 46 Mt in 1998 to 28 Mt in 2018. Argentina is the 4th largest oil producer in South America after Brazil, Venezuela, and Colombia.
Crude oil exports increased in 2021 to over 4 Mt, after dropping in 2020 to 1.7 Mt (from around 3 Mt in 2019) due to the COVID-19 pandemic. Exports of oil products decreased slightly in 2021 to 3 Mt (3.4 Mt in 2020).
Interactive Chart Argentina Crude Oil Production
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Oil Products Consumption
Oil product consumption increased by 12% in 2021 to 25 Mt, after a 14% decline in 2020. Previously, it decreased by 3.4%/year from 2015 to 2019.
Transport absorbs about 46% of that consumption.
Graph: OIL CONSUMPTION (Mt)
Graph: OIL CONSUMPTION BREAKDOWN BY SECTOR (2021, %)
Interactive Chart Argentina Refined Oil Products Production
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Additionally, for more detailed information on refineries, you can request a sample of our America Refineries Dataset
Natural Gas Consumption
Natural gas consumption remained quite stable in 2021 at 48 bcm. It had previously declined by around 2%/year since its peak in 2017. Prior to that, it increased at a rate of 1.8%/year from 2009 to 2017. Argentina is the largest gas consumer in South America.
Electricity production absorbs 37% of that consumption, followed by the residential and tertiary sector, which consumes 22%, and the industrial sector (21%). Transport represents 5% of gas consumption.
Graph: NATURAL GAS CONSUMPTION (bcm)
Interactive Chart Argentina Natural Gas Domestic Consumption
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Additionally, for more detailed information on the LNG trade, you can request a sample of our America LNG Trade Dataset
Coal Consumption
Coal consumption is very low (1.8 Mt in 2021). More than half of the coal is used in industries (56%), while the remainder is used for power generation.
Graph: COAL CONSUMPTION (Mt)
Graph: COAL CONSUMPTION BREAKDOWN BY SECTOR (2021, %)
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
Power Consumption
Electricity consumption increased by 3.6% in 2021 to 129 TWh. It had declined over 2015-2020 (-1.2%/year).
The residential sector is the largest electricity consumer (37%), ahead of industry (36%) and services (26%). The services sector share has been largely stable since 2005, while households have been gaining share from industry.
Graph: ELECTRICITY CONSUMPTION (TWh)
Graph: ELECTRICITY CONSUMPTION BREAKDOWN BY SECTOR (2021,%)
Renewable in % Electricity Production
The Renewable Energy Act of 2015 sets the goal of increasing the share of renewables (apart from large hydro) to 12% of electricity production in 2019 (6% achieved), 16% in 2021 (17% achieved), 18% in 2023, and 20% in 2025. 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 new 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)
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
CO2 Fuel Combustion/CO2 Emissions
In its updated NDC (2021), the country announced its aim of not exceeding 349 MtCO2 of net GHG emissions by 2030. It is equivalent to a total decrease in emissions of around 21% compared to the historical peak reached in 2007. In November 2022, the country submitted its Long-Term Strategy (LTS), confirming its 2050 net zero target.
Since 2015, CO2 emissions from energy combustion have been decreasing rapidly (-3.5%/year), dropping to 150 MtCO2 in 2020 due to the COVID-19 pandemic. Finally, they grew by 10% in 2021 to 165 MtCO2, a level around 50% higher than in 1990.