Chevron Plans to Triple Vaca Muerta Production Amid Economic Reforms in Argentina
Chevron aims to triple its production in Argentina's Vaca Muerta basin by 2035, currently producing 74,000 barrels per day. The company emphasizes the need for further economic deregulation under President Javier Milei to attract investment and reduce costs. Chevron is also expected to apply for RIGI benefits for two undeveloped blocks to improve competitiveness against the Permian Basin. Meanwhile, Brazil faces challenges in meeting its sustainable aviation fuel (SAF) mandate due to limited domestic production and high costs.
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Chevron plans to triple its production in Argentina's Vaca Muerta basin by 2035, increasing from 74,000 barrels per day. The company cites the need for President Javier Milei to further deregulate the economy to capitalize on the shale boom.
Chevron expects to apply for RIGI benefits for its Trapial and Narambuena blocks, aiming to reduce the cost gap to the Permian Basin, currently at 35%. Concurrently, Brazil's airlines express concerns regarding compliance with a 2027 sustainable aviation fuel (SAF) mandate amidst high costs and limited domestic production capabilities.
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