Big names bid in Argentina's offshore auction
Some of the world's biggest oil companies get involved in Argentina's first offshore licensing round in almost three decades
Argentina is attempting to emulate the recent offshore advances made by Latin American neighbours such as Brazil and Guyana, while also looking to replicate the US shale boom in the Vaca Muerta. The country's first offshore bid round for 30 years closed on 16 April and attracted bids worth $995mn from some of the world's biggest E&P companies. In the end, 13 firms bid for 18 of the 38 blocks that were auctioned. ExxonMobil, Norway's Equinor, Shell, Total and BP were among those that acquired acreage in the auction. The uniqueness of the round played a part in attracting interest, with many of the bidders identifying it as a window of opportunity that might not come around again soon. Jim
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
