Argentinian President Javier Milei
The changing face of Argentina’s upstream
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
As 2025 fast approaches, Argentina is reacting to a busy year of M&A with strong upstream growth and plenty of consolidation. In August, the energy ministry said hydrocarbons production had reached its highest level in 20 years. State oil and gas firm YPF continues to focus on growth in the Vaca Muerta shale play, offloading non-core conventionals to smaller domestic E&Ps, while several of IOCs are weighing possible exits from the country. ExxonMobil is set to become the first, recently agreeing to offload its Vaca Muerta assets for a reported $1.7b to Buenos Aires-headquartered Pluspetrol. Equinor is expected to follow suit, leaving Chevron, TotalEnergies and Shell as the only remai
Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
