Argentinian shale suffers further setbacks
The government was relying on Vaca Muerta to solve its financial problems. But another default looms as Covid-19 disrupts growth plans
Argentina’s shale industry, like its US counterpart, is facing possible financial ruin. Plunging oil prices have reduced production in the Vaca Muerta basin to a trickle, while lockdown of facility workers is further slowing operations. And the threat of widespread job losses and potential bankruptcies is disastrous timing for a government desperately needing oil revenues to stave off a ninth national default. State oil company YPF is particularly feeling the effects. The firm has been the leading driver of growth in the Vaca Muerta basin, working in collaboration with several international joint partners including Malaysian state oil firm Petronas and Chevron. Diminished physical demand, re
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
