A drone view shows a shale gas flare at a YPF refinery and city lights in the Vaca Muerta formation, in Plaza Huincul, Argentina October 30, 2024. REUTERS/Alexander Villegas/File Photo
BUENOS AIRES, March 14 (Reuters) – Argentina has allowed state oil firm YPF to join a stimulus program unlocking government funds for a pipeline project from the massive Vaca Muerta shale formation to a port in the Patagonian province of Rio Negro, Economy Minister Luis Caputo said on Friday.
The project is estimated to cost nearly $3 billion. Once it is up and running, it should pump more than $15 billion in oil exports a year, Caputo said in a post on X.
YPF YPFDm.BA is developing the project along with partners such as Shell, Chevron, Vista and Pan American Energy. The group applied for the government stimulus – part of a program by President Javier Milei to attract large investments in the country and turn around the flagging economy – last year.
Argentina hopes to cement its status as a net energy exporter through Vaca Muerta, the world’s second largest shale gas reserve and fourth largest for shale oil.
(Reporting by Eliana Raszewski; Writing by Kylie Madry; Editing by David Gregorio)
(c) Copyright Thomson Reuters 2025.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 108,912 members that receive our newsletter.
Have a news tip? Let us know.
How the Slow Strangulation of Global Trade Became the Defining Battle of a New Cold War By Captain John Konrad (gCaptain) In 1883, Alfred Thayer Mahan laid out the brutal...
By Angus Whitley Mar 16, 2025 (Bloomberg) –Chinese authorities increased pressure on CK Hutchison Holdings Ltd. over its plan to sell its Panama ports stake by sharing a second newspaper commentary...
The delivery of a two-million-barrel cargo of Russian oil to China took seven times longer than it would have done prior to a round of US sanctions imposed on Moscow back in January.
Maritime and offshore news trusted by our 108,912 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
