RIO NEGRO, ARGENTINA (Camilo Ciruzzi, Energy Analytics Institute, 6.Dec.2024) — Argentina’s crude oil and natural gas sectors are experiencing a historic surge. That, as production nears record highs, driven by the prolific Vaca Muerta shale formation. Continued development of Vaca Muerta is reshaping the South American country’s energy landscape, reducing reliance on costly energy imports, and opening the valve for new export opportunities.
Since 2021, Argentina’s oil production has soared 50%, averaging 738,000 barrels per day (b/d) in Sep. 2024, its highest level since 2003.
