Click here to view more than 150 global oil prices
Start trading CFDs with more than 2,200 different instruments
Click here to view more than 150 global oil prices
Click here to view more than 150 global oil prices
Start trading CFDs with more than 2,200 different instruments
Click here to view more than 150 global oil prices
Click here to view more than 150 global oil prices
Start trading CFDs with more than 2,200 different instruments
Click here to view more than 150 global oil prices
Click here to view more than 150 global oil prices
Start trading CFDs with more than 2,200 different instruments
Click here to view more than 150 global oil prices
Halliburton: Global oil shortage is coming
Although Beijing maintains rare earths...
OPEC+ uses a combination of...
Irina is a writer at Oilprice.com and has over ten years of writing experience in the oil and gas industry.
According to Reuters, a family-owned company in Argentina is turning frac sandbags used in the Vaca Muerta shale oil field into shoes, handbags and wallets.
This company, aptly named Fracking Design, was founded by the three sisters, using the so-called Big Bags originally used for fracturing sand, processing them and mixing them with waste leather to produce fashion items.
“A well uses approximately 30,000 to 40,000 tons of sand. This is approximately 26,500 bags,” said Ornella Basilotta, one of the company’s founders. According to Basilotta, the plastic recycled by the company during the production process is “equivalent to 1,100 trees, and they need to absorb the carbon dioxide produced by the burning of these sacks.”
The Vaca Muerta shale formation is one of the largest shale formations in the world, with an estimated recoverable resources of approximately 16 billion barrels of crude oil and 308 trillion cubic feet of natural gas. Natural gas resources make Wakamurta the second largest natural gas reservoir in the world.
Before the pandemic, Vaca Muerta attracted a lot of attention from major oil giants. During the pandemic, due to the destruction of demand, oil prices plummeted, and production of the show fell. However, now, dead cattle are rebounding, and production is returning to growth.
The Buenos Aires Times recently reported that Shell and the Argentine state-owned energy company YPF plan to invest approximately US$300 million in the Vaca Muerta oil field in the next two years, with a goal of reaching 15,000 barrels of crude oil per day by 2024.
YPF, the largest operator of Vaca Muerta, said this week that it expects strong financial performance in the last quarter of this year due to increased oil and gas production.
Reuters quoted YPF President Pablo Gonzalez (Pablo Gonzalez) as saying: “Because of the increase in natural gas production, there is a little bit more. Fuel sales are almost at pre-pandemic levels. Coupled with the increase in crude oil production. "In fact, we have shown this type of recovery this year, and I think it's good."
Written by Irina Slav for Oilprice.com
More popular reading from Oilprice.com:
Head of the International Energy Agency: The chief culprit of the European energy crisis is natural gas producers
What will happen to oil and gas workers after the energy transition?
Irina is a writer at Oilprice.com and has over ten years of writing experience in the oil and gas industry.
The plunge in oil prices has taught U.S. shale oil a valuable lesson
The beginning of the multi-billion dollar nuclear fusion boom
Guyana will become the 11th country with a daily output of over 1 million barrels
Oil prices are expected to reach US$125 in 2022
OPEC+ expects a large amount of oil oversupply in early 2022
The materials provided on this website are for information and educational purposes only, and are not intended to provide tax, legal or investment advice.
Nothing on the website should be regarded as a recommendation, solicitation or offer to buy or sell securities to anyone in any jurisdiction.
Due to leverage, trading and investment have a high risk of rapid loss. Individuals should consider whether they can bear the risks associated with the transaction.
74-89% of retail investor accounts lose money. Any transactions and order execution mentioned on this website are carried out by and through OPCMarkets.
Merchant of record: as a media solution for Oilprice.com transactions