Argentinian YPF launches VMOS export plan, marking a new phase in Vaca Muerta production capacity release

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智通财经2026/08/12 13:01

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The CEO of Argentina's national oil company YPF stated at the Vaca Muerta Investment Forum that the company plans to launch crude oil exports from the VMOS project via the port of Río Negro Province starting in January, with an initial scale of approximately 180,000 barrels per day.
Export volumes will be increased to about 360,000 barrels per day by mid-year, and further to around 550,000 barrels per day by 2028. The company is already considering expanding its long-term target to around 700,000 barrels per day.
The progress of the VMOS project marks a shift for the Vaca Muerta shale oil region from the development phase to large-scale exports, which will alter the energy trade landscape of Argentina, transforming it from a net importer of crude oil to a major regional supplier.
For the global market, Argentina’s additional export volume may not shake OPEC+ or North America’s dominant position, yet amid current Middle East supply constraints and the closure of the Strait of Hormuz, new supply from South America brings marginal balance to the regional market.
The pace of export infrastructure construction and port capacity will be key variables in determining whether the plan can be realized on schedule, and the efficiency of pipeline and terminal supporting construction must be continuously monitored.
Going forward, attention should be paid to the progress of YPF signing long-term contracts with international buyers, as well as whether overall production in the Vaca Muerta region will be sufficient to sustain the fulfillment of export commitments. This will determine whether Argentina can significantly enhance its position in the global light crude oil supply landscape.

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