Argentine energy official Daniel Gonzalez resigns — Buenos Aires Times

In Argentina, Daniel Gonzalez, who was responsible for the energy sector and the RIGI investment incentive programme in President Javier Milei's government, has resigned. His departure from the team could slow the review of projects in the oil and gas sector, including those related to the Vaca Muerta shale field, Buenos Aires Times reports.

Gonzalez previously worked as an investment banker at Merrill Lynch and also served as chief executive of the state-owned oil company YPF. In his post, he oversaw cuts to energy subsidies and the move of tariffs closer to market levels after prolonged state price regulation.

Investment applications

One of Gonzalez's key areas of work was the RIGI programme, which provides tax, currency and customs benefits protected for 30 years. Programme participants can also turn to international arbitration, bypassing local courts, if Argentina violates the terms of contracts.

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According to the publication, applications worth tens of billions of dollars have been submitted under RIGI, including about US$70 billion planned for oil wells. Earlier this year, the programme was extended to wells in the Vaca Muerta field in Patagonia.

Concerns over delays

Juan Jose Carbajales, head of the consulting firm Paspartu, said that the number of applications rose significantly after the expansion of RIGI and will continue to grow. According to him, such applications are difficult to assess, and the lack of leadership of the RIGI committee could lead to delays.

Lawmaker Eduardo Falcone, whose small parliamentary bloc is allied with Milei, noted that Gonzalez acknowledged the slow pace of application approvals, but the process had begun to accelerate. Announcing his resignation on a podcast friendly to Milei, Gonzalez himself said that he had wanted to leave earlier but remained because of the large number of investment projects. He also said that the rest of the team would continue its work.