President Milei announces record Argentine exports — Buenos Aires Times

In Argentina, in the city of Neuquén, President Javier Milei said that the country is undergoing an “underground revolution” thanks to the development of the Vaca Muerta shale formation. During the opening of the Argentina Oil & Gas Patagonia 2026 exhibition, he also reported a record monthly export volume which, he said, exceeded US$10 billion.

As Buenos Aires Times reports, Milei linked the growth in energy-sector indicators to changes in economic rules introduced by his administration. According to him, Argentina is approaching production of 1 million barrels of oil per day.

Production in Neuquén

The president emphasized that production in Neuquén Province exceeds 600,000 barrels per day. He called energy one of the key factors in economic development and productivity growth, comparing the energy produced by oil with human labor.

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Presidential Chief of Staff Karina Milei, Cabinet Chief Diego Santilli and Neuquén Province Governor Rolando Figueroa attended the event alongside Milei.

Criticism of restrictions

Milei criticized price regulation, export restrictions and currency controls, which, in his view, had held back investment in the sector. He also mentioned the so-called domestic oil price and subsidization of energy tariffs, which, in his assessment, distorted economic signals.

According to the president, for a decade Vaca Muerta operated at only half of its capacity because of price restraints, currency restrictions and investor fears. After the rules changed, he said, Argentina began increasing exports.