Argentina’s Energy Secretary, María Tettamanti, said the current international energy market environment—shaped by tensions in the Middle East—has created a favorable window for the country’s energy sector, particularly for the development of Vaca Muerta.
According to Tettamanti, higher global oil prices represent a major opportunity for Argentina’s shale industry and could help accelerate crude production growth in the coming months.
“An increase in oil prices is always an opportunity for Vaca Muerta, especially for crude production. It is an opportunity we must not waste,” she said.
Argentina Set to Reach One Million Barrels Per Day
Tettamanti projected that Argentina will hit a historic production milestone in 2026, reaching one million barrels of oil per day, driven by investments already underway in the sector.
“Argentina will reach one million barrels per day this year because the investments are already in place. This is not a forecast of what might happen—it is happening,” she stated.
The official emphasized that private companies will remain at the center of the shale formation’s expansion, arguing that operational efficiency and productivity improvements should be led by producers rather than the government.
“Private companies always seek greater productivity and efficiency because that is what generates profit. They will determine the most efficient way to develop Vaca Muerta,” Tettamanti said.
Government Stresses Stability to Attract Investment
Tettamanti also highlighted the importance of maintaining policy consistency and avoiding state intervention in the energy market, warning that regulatory unpredictability could undermine investor confidence.
“If investors see Argentina returning to interventionist measures, the investments will not come,” she said.
She added that the government must remain coherent in implementing the market-oriented policies it advocates.
RIGI Incentives Seen as Key to Unlocking Growth
The Energy Secretary described Argentina’s Régimen de Incentivos a las Grandes Inversiones (RIGI) as crucial for maximizing the country’s hydrocarbon potential.
“It would be a huge mistake if Argentines fail to take advantage of the hydrocarbon resources in Vaca Muerta,” Tettamanti said.
She stressed that the benefits of developing the shale basin extend beyond oil companies and producing provinces, arguing that the broader national economy stands to gain from the sector’s expansion.
Long-Term Vision: Two Million Barrels Per Day
Looking further ahead, Tettamanti said Argentina could eventually double production to two million barrels per day, noting that transport infrastructure should not pose a constraint for that level of output.
“We have no transportation bottleneck for that volume of crude, and Argentina can become a major global energy power if we choose that path,” she said.
Energy Trade Surplus Hits Historic High
Argentina’s energy sector has already shown strong momentum in 2026. In March, the country posted a record monthly energy trade surplus of USD 1.09 billion, the highest ever for that month.
The result was driven by:
- Exports: USD 1.235 billion, up 23.2% year-over-year
- Imports: USD 145 million, down 38.5% year-over-year
For the first quarter of 2026, the sector generated a USD 2.405 billion surplus, also a record for the period.
No Government Intervention on Fuel Prices
Addressing domestic fuel prices amid the global oil rally, Tettamanti reiterated the government’s commitment to allowing market forces to determine prices at the pump.
“When the state intervenes in prices, it creates uncertainty. That means loss of confidence, less investment, less production, and fewer jobs. The government has not intervened—we are letting markets regulate themselves,” she said.
The comments reinforce the administration’s broader strategy of promoting market liberalization while positioning Argentina’s energy sector as a key engine of future economic growth.