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If the Strait of Hormuz is blocked, could Argentina replace the Middle East and upset the entire world energy map?
In the context of rising oil prices due to geopolitical tensions in the Middle East, Argentina is emerging as a new "shale oil superpower" with the Vaca Muerta field. According to Rystad Energy, output from this region could exceed 1 million barrels/day before 2030, turning Argentina into a strategic supply source outside the Middle East.
Oil Prices Increase Sharply at the Same Time
Current Price Index Gain
WTI Crude Oil 104.8 USD/barrel +3.64%
Brent Crude Oil 108.9 USD/barrel +3.02%
Murban Crude 107.8 USD/barrel +2.98%
Natural Gas 2.96 USD/MMBtu +2.28%
Why Vaca Muerta Is Watched Around The World
Argentina has just opened an auction for 15 new exploration blocks at Vaca Muerta, the largest auction since 2016. This is a rare opportunity for international oil and gas corporations to participate in one of the best shale oil basins outside of North America.
The Numbers Stunned Investors
Value Indicator
The number of new auction lots is 15 lots
Minimum cost per lot is about 13 billion VND
Breakeven price is about 838,000–1,283,000 VND/barrel
Production forecast at the end of the decade is more than 1 million barrels/day
Direct Comparison With Shale Oil "Kings".
Region Country Productivity assessment
Vaca Muerta Argentina The world's leading asymptote
US Permian Basin Global benchmark
American Bakken Formation High efficiency
Eagle Ford Shale US Mature
Rystad Energy estimates that Vaca Muerta has achieved well productivity equivalent to the Permian, meaning Argentina is entering the "heavy shale oil club".
Why Vaca Muerta Is More Important Than Ever
Strait of Hormuz currently transports about 20% of global oil. With just a few days of disruption, oil prices could explode and importing countries would have to find alternative sources. In that scenario, Vaca Muerta is
