A regasification terminal in the port of Escobar
The Secretary of Energy, led by Darío Martínez, left the solution in the hands of the YPF and the Prefecture of the conflict due to the shortage of diesel. In a very short conference, the official said that the state-owned oil company will purchase 50% more diesel ships in June compared to May and which will strengthen the acquisitions also in July.
In turn, Martínez warned him the shortcomings are more evident in the provinces bordering neighboring countries. There are cases of Bolivian vehicles coming to Argentina to load diesel, because it is cheaper than doing it in their country. To avoid these cases, Martínez asked for the cooperation of the Gendarmerie. “We will strengthen controls at our border crossings in a coordinated effort with the security ministry and the national gendarmerie,” he explained.
“ YPF will increase diesel imports by 50% compared to May, going from 2 to 3 ships in June and to 4 in July, “said Martínez.” The rest of the refining companies will also increase the volume of imports, incorporating a ship in the the month of June, which will lead to a significant further increase in the volumes of GAS OIL available for the supply of domestic demand “, highlighted the secretary.
The measures likely imply that oil companies have to import at a loss or increase the amount of fuel. In April, diesel imports amounted to $ 220 million, of which $ 150 million was made by YPF.
As for the prices that will be paid now, the values are being negotiated for the next imports. But international values have been on the rise since the Russian invasion of Ukraine.
“It is a decision of the national government that the price of energy in the country be decoupled from the international prices that have risen due to the war in Ukraine. Because the protection of the income of Argentines is a priority for our government”, hammered Martinez.
Each 45,000 cubic foot ship of diesel can cost between $ 45 million and $ 50 million per shipment. IF YPF were to buy 3 ships in June, this implies an outlay of $ 150 million. And if you have to do it in July, it will be around $ 200 million.
There may also be purchases of diesel ships by other oil companies, but Secretary Martínez did not specify them.