COUNTRY OVERVIEW
President: Eduardo Duhalde (since January 2002)
Independence: July 9, 1816 (from Spain)
Population (2002E): 37.8 million
Location/Size: Southern South America/2.8 million square kilometers (1.1 million square miles), about four times the size of Texas
Major Cities: Buenos Aires (capital), Córdoba, La Plata, Mendoza, Rosario, Santa Fe
Languages: Spanish (official), English, Italian, German, French
Ethnic Groups: white (mostly Spanish and Italian) 97%, mestizo, Amerindian, or other nonwhite groups 3%
Religion: nominally Roman Catholic 92% (less than 20% practicing), Protestant 2%, Jewish 2%, other 4%
Defense (8/98): Army (41,000), Navy (20,000), Air Force (12,000), Reservists (375,000), Paramilitary Forces (31,240)

ECONOMIC OVERVIEW
Minister of the Economy: Roberto Lavagna
Currency: Peso
Financial Exchange Rate: US$1 = 3.6 Argentine Pesos (10/29/02)
Nominal Gross Domestic Product (2001E): $267.6 billion (2002E): $111.3 billion
Real GDP Growth Rate: (2001E): -4.5% (2002E): -13.7%
Inflation Rate: (2001E): -1.1% (2002E): 30.7%
Unemployment Rate: (2002E): 22%
Current Account Balance as a % of GDP: (2001E): -1.7% (2002E): 7.3%
Major Trading Partners: Brazil, United States, Japan, Uruguay, Chile, Germany, France
Major Export Products (2000): Agricultural products (including manufacturing of agricultural products) (55%), industrial products (30%), energy (15%)
Major Import Products (2000): Consumer goods (23%), industrial inputs (including raw materials) (34%), capital goods (43%)

ENERGY OVERVIEW
Proven Oil Reserves (1/1/02E): 2.9 billion barrels
Oil Production (2002E): 818,000 barrels per day (bbl/d), of which about 763,000 bbl/d was crude oil
Oil Consumption (2002E): 483,000 bbl/d
Net Oil Exports (2001E): 335,000 bbl/d
Natural Gas Reserves (1/1/02E): 27.5 trillion cubic feet (Tcf)
Natural Gas Production (2000E): 1.32 Tcf
Natural Gas Consumption (2000E): 1.17 Tcf
Net Natural Gas Exports (2000E): 0.15 Tcf
Coal Reserves (2000E): 474 million short tons (Mmst)
Coal Production (2000E): 0.33 Mmst
Coal Consumption (2000E): 1.47 Mmst
Electric Generation Capacity (1/1/00E): 24 gigawatts (GW)
Electricity Generation (2000E): 82.8 billion kilowattthours (bkwh); conventional thermal 52%, hydroelectricity 41%, nuclear 7%

ENVIRONMENTAL OVERVIEW
Total Energy Consumption (2000E): 2.7 quadrillion Btu* (0.7% of world total energy consumption)
Energy-Related Carbon Emissions (2000E): 36.4 million metric tons of carbon (0.6% of world carbon emissions)
Per Capita Energy Consumption (2000E): 73.2 million Btu (vs. U.S. value of 351.0 million Btu)
Per Capita Carbon Emissions (2000E): 1.0 metric tons of carbon (vs U.S. value of 5.6 metric tons of carbon)
Energy Intensity (2000E): 9,226 Btu/ $1995 (vs U.S. value of 10,918 Btu/ $1995)**
Carbon Intensity (2000E): 0.12 metric tons of carbon/thousand $1995 (vs U.S. value of 0.17 metric tons/thousand $1995)**
Sectoral Share of Energy Consumption (1998E): Industrial (48.6%), Transportation (23.7%), Residential (18.8%), Commercial (8.8%)
Sectoral Share of Carbon Emissions (1998E): Industrial (44.8%), Transportation (32.7%), Residential (16.2%), Commercial (6.2%)
Fuel Share of Energy Consumption (2000E): Natural Gas (45.2%), Oil (36.3%), Coal (1.5%)
Fuel Share of Carbon Emissions (2000E): Oil (48.1%), Natural Gas (49.3%), Coal (2.5%)
Renewable Energy Consumption (1998E): 393 trillion Btu* (0.5% decrease from 1997)
Number of People per Motor Vehicle (1998): 5.6 (vs U.S. value of 1.3)
Status in Climate Change Negotiations: Non-Annex I country under the United Nations Framework Convention on Climate Change (signed June 12, 1992 and ratified on March 11, 1994). Signatory to the Kyoto Protocol (signed March 16, 1998).
Major Environmental Issues: Erosion resulting from inadequate flood controls and improper land use practices; irrigated soil degradation; desertification; air pollution in Buenos Aires and other major cities; water pollution in urban areas; rivers becoming polluted due to increased pesticide and fertilizer use.
Major International Environmental Agreements: A party to the Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution and Wetlands. Has signed but not ratified Marine Life Conservation.

* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar, wind, wood and waste electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data.
** GDP based on EIA International Energy Annual 1999.

ENERGY INDUSTRY
Organization: The energy sector has been privatized and deregulated, with many private sector participants. Oil and gas producers Repsol-YPF, Pérez Companc, Petrolera San Jorge, BP, TotalFinaElf, Austral, Astra, Bridas, Tecpetrol, Pluspetrol. Natural gas pipeline companies have also been privatized - Transportadora de Gas del Norte, Transportadora de Gas del Sur. Electric power companies - numerous producers in a highly competitive generation market, three transmission companies in a regulated monopoly, three regional distributors, municipal utilities.
Major Ports: Bahía Blanca, Buenos Aires, La Plata
Major Oil and Gas Producing Basins: Neuquén, Austral, Golfo San Jorge, Cuyana, Northwest
Major Refineries (Capacity): YPF La Plata (189,000 bbl/d), YPF Lujan de Cuyo (120,000 bbl/d), Shell Buenos Aires (110,000 bbl/d), Esso Campana (84,500 bbl/d), Refisam - San Lorenzo (37,600 bbl/d), Refinor - Campo Duran (32,000 bbl/d); Total Capacity - 639,075 bbl/d

Sources for this report include: CIA World Factbook; DRI-WEFA Latin America Economic Outlook; McGraw-Hill Companies, Global Power Report; Dow Jones; Economist Intelligence Unit ViewsWire; Financial Times; Latin American Power Watch; Latin American Energy Alert; Oil Daily; Oil and Gas Journal; Petroleum Economist; Petroleum Intelligence Weekly; U.S. Energy Information Administration; Wood Mackenzie; World Markets Analysis.