(Oil Price)– The discovery of the massive Vaca Muerta shale play was a game changer for the economically troubled South American nation of Argentina. The country, which with 2024 gross domestic product of $632 billion ranks as the second largest economy in South America and third largest in the broader region of Latin America, is rapidly becoming one of the region’s
(Oil Price) – Argentina’s energy trade surplus surged to its highest level in 18 years in 2024 as exports jumped by 22.3% while imports slumped by 49.4%, data from the Argentinian government showed. The biggest energy surplus in nearly two decades is a win for the first year in office of President Javier Milei, who has promised a domestic energy revolution to
World Oil (Bloomberg) – Argentina’s biggest oil and gas producer, state-run YPF SA, said its sweeping plan to divest aging oil fields will free up hundreds of millions of dollars to invest in its shale push in the heralded Vaca Muerta formation. “Exiting some of our mature conventional fields will release around $800 million in capex to be reallocated primarily
World Oil (Bloomberg) – Argentina’s YPF SA surged the most on record following the election of outsider presidential candidate Javier Milei, who said he plans to privatize the state-owned oil and gas producer and remove controls stymieing the sector. The driller’s American Depository Shares soared as much as 43%, the biggest intraday move since they began trading in 1993. Argentina’s
World Oil (Bloomberg) — In a windswept desert southwest of Buenos Aires, black steel tubes the length of school buses extend in a line toward the horizon. The scene is the clearest sign yet that one of the world’s biggest shale plays finally has a shot at living up to its promise. Workers in the geological formation known as
