Exports
With Vaca Muerta, Argentina is exporting oil on a large scale again: in 2025 the energy trade balance hit a record, and in the first half of 2026 crude became the country's top export product, ahead of corn and soybeans.
US$ 7,815 Menergy trade surplus in 2025, an all-time record
#1crude was the top exported product in 1H of 2026 (US$ 4,693 M)
~40%of the oil produced is exported (estimate: production minus what refineries process)
Source: INDEC, via LM Neuquén (January 2026).
Source: INDEC, via LM Neuquén (January 2026). In 2026, China, Thailand, Australia and Uruguay are added.
Timeline
Tap a milestone to see the detail.
InfrastructureMarket
- Argentina the exporterWith deregulation, energy exports multiply by 27 in a decade.See more →
- Gas exports are cut offThe supply crisis forces restrictions on gas to Chile.See more →
- Net energy importerThe energy balance turns negative: LNG, diesel and gas from Bolivia are imported.See more →
- The Trasandino returnsVaca Muerta crude crosses the Andes to Chile again.See more →
- Energy surplusThe energy balance turns positive again and energy becomes a source of dollars.See more →
- Record surplus: US$ 7,815 millionEnergy exports of US$ 11,086 million; crude contributes US$ 6,716 million.See more →
- Crude, the top export productIn the first half it surpasses corn and soybeans. In July, more than US$ 1,000 million in a single month.See more →
- VMOS: exporting from Punta ColoradaUp to 550,000 barrels per day of additional export capacity, with VLCC tankers.See more →
Where it leaves from
- Puerto Rosales (Bahía Blanca): Oldelval's terminal in Punta Alta, where crude from the Neuquén Basin arrives. Today it is the main outlet for Vaca Muerta oil to the sea.
- Trasandino Pipeline: Neuquén crude to the Biobío refinery in Chile.
- Golfo San Jorge: the heavier Escalante crude is shipped from the Caleta Córdova (Chubut) and Caleta Olivia (Santa Cruz) terminals.
- Gas: through the pipelines to Chile (GasAndes, del Pacífico, NorAndino, Gas Atacama) and, since 2025, to Brazil via the Bolivian network.
- What's coming: Punta Colorada (VMOS) for crude, and the liquefaction vessels in the Gulf of San Matías for LNG.
Ver cada punto de exportación, con lo que mide día por día →
What it means for a supplier
- Terminals, tanks, single-point moorings and pumping stations for export are the largest midstream projects in the coming years.
- More exports mean more upstream activity: every barrel exported comes from wells that have to be drilled, fractured and hooked up.
- Export contracts are paid in dollars: that improves operators' ability to pay and the predictability of their investment plans.
Fuentes
Updated as of October 9, 2026. Anything to correct or add? Write to us.