In a sign of Argentina’s shifting oil market, Vista Energy charged export prices for over 40% of its crude sold to domestic refiners in Q2. President Javier Milei’s efforts to liberalize the market are gaining traction, allowing drillers to charge international prices locally.
Since Milei took office, negotiations have aimed for export parity in crude pricing. Vista’s CEO, Miguel Galuccio, reported that 64% of the company’s production achieved export parity at about $77 a barrel, up from 47% last year.
Although recent progress has slowed due to inflation concerns, Milei’s reform package received legislative approval. This includes banning government interference in crude prices and limiting export restrictions.