Overview

• June exports from Vaca Muerta more than doubled year-on-year despite a nearly 20% drop in oil prices.
• The energy sector posted a $739 million surplus in June, accounting for over 80% of Argentina’s total trade surplus that month.
• In the first half of 2025, energy exports reached $5.337 billion while imports fell to $1.576 billion, yielding a $3.761 billion surplus that nearly doubled the first-half 2024 balance.
• YPF has signed a confirmed agreement with Shell to export liquefied natural gas (LNG), marking Argentina’s first major LNG shipment deal.
• The planned Vaca Muerta Sur pipeline, once completed, could boost annual energy exports to around $15 billion by 2027.