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Oil storage site explosion in Argentina injures 17

23 March 2014

Six oil tanks exploded on March 21 at an oil storage site in Mendoza owned by state energy company YPF, leaving at least 17 people injured. The Cerro Divisadero complex holds the production from 10 fields in the Malargue area, which accounts for 3.8% of YPF’s production, the company said. The depot is located about 1,000 kilometres west of Buenos Aires. 

Stock image
Stock image

YPF said its nearby Luján de Cuyo refinery, which produces 106,000 barrels of oil per day, was drawing on oil from back-up facilities and was operating normally.

The resulting fire was brought under control on March 23. Workers have been trying to limit the environmental impact of the accident and have erected barriers to keep crude from flowing into the Rio Grande, YPF said.

Argentina’s government took control of YPF in May 2012, when Congress approved the expropriation of a 51% stake in the company from Spain’s Repsol. Repsol retains a 12 percent stake in YPF, Argentina’s largest oil producer.

Argentina and Repsol recently reached an agreement on compensation for the expropriation, but the deal must still be approved by the Argentine Congress and the Spanish oil company’s shareholders.


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