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Argentina Seeks to Liberalise Energy Exports

OIL

Argentine President Javier Milei is seeking to reduce government intervention in crude exports, according to Bloomberg.

  • Milei’s new reforms include replacing existing rules which allow refiners the right to first refusal on export cargoes and let the government intervene in crude and gasoline pricing.
  • Under new plans, the exports of oil abroad will be “free” without the ability of the executive branch make interventions on prices.
  • The reforms would embolden drillers, Bloomberg said, as investment in the Vaca Muerta shale formation has been hampered by government price fixing.
  • Shale oil in Argentina traded at $58/b in Q3, compared to $86/b for Dated Brent, according to Bloomberg citing YPF.
Energy BulletsCommodities
Energy BulletsCommodities

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