Vista Reaps More From Crude Sales as Argentina Frees Oil Markets
- Driller charges export prices for 40% of domestic production
- Milei reforms gain momentum after congressional approval
Since Milei took power, drillers and refiners have been negotiating a pathway to export parity for crude.
Photographer: Juan Mabromata/AFP/Getty ImagesArgentine shale driller Vista Energy charged export prices for more than 40% of crude that it sold to domestic refiners in the second quarter — the clearest sign yet that the South American country’s moves to free up oil markets under President Javier Milei are gaining momentum.
The libertarian leader has vowed to end the meddling in crude prices of previous governments, a tactic that kept gasoline cheap but turned off international investors eyeing the heralded Vaca Muerta shale patch. Since Milei took power seven months ago, drillers and refiners have been negotiating a pathway to so-called export parity for crude, which means that oil producers like Vista can charge the same prices locally as overseas.