Skip to content

Industry Research Report on the Oil & Gas in Argentina.

Value Chain outline

The Oil & Gas industry value chain in Argentina is typically divided into three main segments: Upstream, Midstream, and Downstream. Each segment involves distinct activities, players, and infrastructure.

Identification and description of each step in the value chain

  • Upstream: This is the initial stage of the value chain, encompassing the exploration for and production of crude oil and natural gas. It involves identifying potential reserves, drilling wells, and extracting hydrocarbons from the earth.
  • Midstream: This stage focuses on the transportation and processing of crude oil and natural gas from production sites to refineries and distribution centers. It includes pipelines, storage facilities, and processing plants (like gas processing plants).
  • Downstream: This is the final stage, which involves refining crude oil into various petroleum products (like gasoline, diesel, and jet fuel) and marketing and distributing these products to consumers and industries. It includes refineries, distribution networks, and retail stations.

Identification and description of segments for each step of the value chain.

  • Upstream:
    • Exploration: Activities related to identifying potential hydrocarbon reserves through geological surveys, seismic testing, and exploratory drilling.
    • Production: Activities involved in extracting crude oil and natural gas from discovered reserves through drilling and well operations. This includes both conventional and unconventional (shale) production.
  • Midstream:
    • Transportation: Moving crude oil and natural gas from production areas to processing plants, refineries, and distribution hubs. This is primarily done via pipelines, but also includes tankers, trucks, and rail.
    • Processing: Treating natural gas to remove impurities and extract valuable components (like natural gas liquids - NGLs) and potentially converting natural gas into Liquefied Natural Gas (LNG) for easier transportation and export.
    • Storage: Holding crude oil, natural gas, and refined products in tanks or underground facilities before further transportation or processing.
  • Downstream:
    • Refining: Transforming crude oil into a variety of finished petroleum products in refineries.
    • Marketing and Distribution: Selling and delivering refined products to wholesalers, retailers, and end consumers. This includes operating service stations, supplying industrial users, and managing logistics.

List of types of players in each segment

  • Upstream:
    • Integrated Oil and Gas Companies (operating across multiple value chain segments).
    • Independent Exploration and Production (E&P) Companies.
    • National Oil Companies (NOCs).
    • Service Companies (providing drilling, well completion, seismic services, etc.).
  • Midstream:
    • Pipeline Operators.
    • Storage Terminal Operators.
    • Gas Processing Companies.
    • LNG Terminal Operators.
    • Transportation and Logistics Companies.
  • Downstream:
    • Refining Companies.
    • Marketing and Distribution Companies.
    • Retail Station Operators (some are owned by integrated companies, others are independent).
    • Trading Companies.

Detailed description of the main activities within each segment.

  • Upstream:
    • Exploration: Conducting geological and geophysical surveys, acquiring seismic data, analyzing potential reserves, and drilling exploratory wells to confirm the presence of hydrocarbons. This stage requires significant capital investment and carries high geological risk.
    • Production: Developing oil and gas fields, drilling production wells (vertical, horizontal, or directional), completing wells (including hydraulic fracturing for unconventional resources), installing extraction equipment (pumps, platforms), and operating wells to bring hydrocarbons to the surface. This involves reservoir management and optimizing production rates.
  • Midstream:
    • Transportation: Operating and maintaining extensive pipeline networks for crude oil and natural gas. This includes compression stations for gas pipelines and pumping stations for oil pipelines. Tankers, trucks, and rail cars are also used for transportation, especially for areas not connected by pipelines or for specialized products.
    • Processing: Separating natural gas from impurities like water, CO2, and sulfur compounds. Extracting valuable Natural Gas Liquids (NGLs) such as ethane, propane, and butane. For LNG, natural gas is cooled to a liquid state for transport in specialized vessels.
    • Storage: Managing crude oil and product inventory in above-ground tanks at refineries or terminals, and storing natural gas in underground reservoirs or depleted fields to meet seasonal demand fluctuations.
  • Downstream:
    • Refining: Using complex processes like distillation, cracking, and reforming to convert crude oil into various refined products with different properties and uses. Refineries also treat products to meet environmental specifications.
    • Marketing and Distribution: Managing the logistics of transporting refined products from refineries to distribution terminals and then to end customers. This includes operating tanker trucks, managing fuel depots, running retail service stations under various brands, and selling products to industrial clients, airlines, and other bulk consumers.

List examples of key players with detailed profiles.

Detailed profiles of key players like YPF S.A., Pan American Energy (PAE), Vista Oil & Gas, Tecpetrol, Pluspetrol S.A., and Compañía General de Combustibles (CGC) are provided in the "Examples of Main Players" section. These companies operate across different segments of the value chain in Argentina.

Show estimates of volumes and sizes of each step in the value chain.

Estimates of volumes and sizes are primarily available for the Upstream segment in terms of production volumes and investments. Information regarding specific volumes for Midstream (e.g., pipeline throughput) and Downstream (e.g., refining capacity, sales volumes by product) on a granular level for all players is less readily available in the provided context, which focuses heavily on production data and investment in Vaca Muerta.

Based on the provided information focusing on the Upstream segment in Argentina:

  • Total Hydrocarbon Production (2024): Argentina had a historic year in hydrocarbon production in 2024.
  • Crude Oil Production (2024): National crude oil production saw significant growth, reaching 106,000 cubic meters per day in December 2024, an 8.5% increase compared to December 2023.
  • Natural Gas Production (2024): National natural gas production in December 2024 was 143.9 million cubic meters per day, a 3% increase compared to December 2023.
  • Unconventional Production (primarily Vaca Muerta): Unconventional production accounted for 53% of total oil production and 50% of total gas production in Argentina in 2024.
    • Unconventional oil production in December 2024 was 56.4 thousand cubic meters per day, up 16.5% year-over-year.
    • Unconventional gas production in December 2024 was 72.3 million cubic meters per day, up 10.6% year-over-year.
  • Investments in the sector (2024): Investments in the oil sector in Argentina exceeded USD 11 billion in 2024.

Specific volumes and sizes for Midstream (pipeline capacity, storage capacity) and Downstream (refining capacity, retail market share by player) are not detailed in the provided data for all players. However, key players like YPF and PAE have significant presence across these segments.

Value Chain Summary Table

Attribute Upstream Midstream Downstream
Main Activities Exploration, Production (Conventional & Unconventional) Transportation (Pipelines, etc.), Processing (Gas, LNG), Storage Refining, Marketing, Distribution, Retail
Segments Exploration, Production Transportation, Processing, Storage Refining, Marketing & Distribution
Types of Players Integrated O&G Co., Independent E&P, NOC, Service Co. Pipeline Operators, Storage Operators, Gas Processors, LNG Operators, Logistics Co. Refining Co., Marketing & Distribution Co., Retail Station Operators, Trading Co.
Key Players Examples (Argentina) YPF, PAE, Vista, Tecpetrol, Pluspetrol, CGC YPF, PAE, Oldelval (pipeline), Transportadora de Gas del Sur (TGS), Transportadora de Gas del Norte (TGN) YPF (Axion energy), PAE (AXION energy), Shell, Trafigura (Puma Energy)
Estimated Volumes/Sizes (2024) Total Oil Production: ~106,000 m3/d (Dec 2024). Total Gas Production: ~143.9 MM m3/d (Dec 2024). Unconventional Oil: ~56.4 K m3/d. Unconventional Gas: ~72.3 MM m3/d. (Specific national volumes for all players not readily available in sources) (Specific national volumes for all players not readily available in sources)
Estimated Investments (2024) > USD 11 billion (Total sector investment) (Included within total sector investment) (Included within total sector investment)

Examples of Main Players

  • YPF S.A.

    • Detailed Profile: YPF is Argentina's state-controlled integrated energy company and the leading producer and exporter of oil and gas in the country. It is the principal local producer in both conventional and unconventional segments, with a strategic focus on Vaca Muerta. YPF operates across the entire value chain, including exploration, production, refining, and marketing. Key brands include YPF and AXION energy (through a joint venture). YPF aims to be a top 10 global shale producer and the leading exporter from Argentina, with an ambitious five-year plan involving significant Vaca Muerta investments and exploring LNG projects. In 2024, YPF's crude exports, mainly to Chile, increased by 174% compared to 2023.
    • Relevant Context: YPF is central to Argentina's energy policy and development, particularly in unlocking the potential of Vaca Muerta. Their investment plans and production targets significantly impact the national energy landscape.
    • Case Study Snippet: YPF is executing a five-year plan with substantial investments, including USD 5 billion planned for 2025 with 65% dedicated to Vaca Muerta. They aim for significant production growth, targeting 1 million boe/d by 2030.
    • Volumes/Sizes: In 2024, YPF's average daily unconventional oil production was 122,000 barrels, peaking at 138,000 bbl/d in Q4. Total hydrocarbon production averaged 536.1 Kboe/d in 2024, with crude production at 257.5 Kbbl/d. They plan to reach 190,000 bbl/d of unconventional oil by the end of 2025.
    • Revenues: Reported revenues of USD 19.3 billion in 2024. Adjusted EBITDA for 2024 was USD 4.654 billion, a 15% increase from 2023. Net income in 2024 was USD 2.393 billion, a significant improvement from a loss in 2023.

  • Pan American Energy (PAE)

    • Detailed Profile: PAE is a leading energy group in Argentina with integrated upstream and downstream operations. It is a major player in both conventional and unconventional hydrocarbon production, with significant operations in the Golfo San Jorge basin and growing involvement in Vaca Muerta. PAE operates across exploration, production, refining, and marketing through its AXION energy brand. They are involved in an LNG export project with Golar.
    • Relevant Context: PAE is the second-largest hydrocarbon producer in Argentina. Their investments are crucial for maintaining production in mature fields and developing new opportunities, particularly in Vaca Muerta and potential LNG exports.
    • Case Study Snippet: PAE is undertaking a project with Golar to install an FSRU for LNG export, with planned investments exceeding USD 1.65 billion in the initial phase (2025-2031). They also continue to invest in conventional areas like Cerro Dragón.
    • Volumes/Sizes: In 2024, PAE was the second-largest national oil and gas producer. Specific national production volumes for 2024 included 100 Kbbl/d of petroleum and 18.5 MMm3/d of gas. They had 25 active shale oil wells in Vaca Muerta in 2024.
    • Investments: Invested over USD 1.595 billion in exploration and exploitation in 2024. The first phase of their LNG export project is estimated to involve investments over USD 1.65 billion.

  • Vista Oil & Gas

    • Detailed Profile: Vista is an independent energy company primarily focused on the development of unconventional resources in Vaca Muerta, where it is the second-largest shale oil operator. Led by Miguel Galuccio, former CEO of YPF. Vista is heavily investing in Vaca Muerta infrastructure and drilling to achieve significant production growth. Exports represent a significant portion of their income.
    • Relevant Context: Vista is a key driver of unconventional production growth in Vaca Muerta, demonstrating the potential for independent companies in this formation. Their focus on efficiency and infrastructure development is notable.
    • Case Study Snippet: Vista plans to invest over USD 1.1 billion in 2025 to reach a total production of 100,000 boe/d. They connected 50 new wells in 2024 and are increasing transportation capacity and incorporating new drilling equipment.
    • Volumes/Sizes: Total production averaged 69.7 Kboe/d in 2024, increasing to 85.276 boe/d in Q4 2024. Petroleum production in Q4 2024 was 73.491 bbl/d, a 52% year-over-year increase. They aim for 100,000 boe/d in 2025 and 150,000 boe/d by 2030.
    • Revenues: Total revenues of USD 1.648 billion in 2024, a 41% increase from 2023. Adjusted EBITDA for 2024 was USD 1.0924 billion, a 25% increase from 2023. Export revenues were 55% of total net revenues in Q4 2024.

  • Tecpetrol

    • Detailed Profile: Tecpetrol is the Techint Group's energy company, with significant operations in Argentina, particularly known for its leadership in shale gas production in Vaca Muerta's Fortín de Piedra block, the country's largest unconventional gas field. They are accelerating their shale oil plans with substantial planned investments and exploring LNG export opportunities.
    • Relevant Context: Tecpetrol played a crucial role in rapidly increasing Argentina's gas production through the development of Fortín de Piedra under specific government incentives (Plan Gas). They are now shifting focus to capitalize on the shale oil potential.
    • Case Study Snippet: Tecpetrol plans to invest USD 2 billion starting in 2025 to accelerate their shale oil projects, aiming for significant increases in oil production. This follows their successful development of the Fortín de Piedra gas field.
    • Volumes/Sizes: In 2024, Tecpetrol was a major gas producer in Vaca Muerta, with 15.8 MMm3/d. Their total production in the first half of 2024 was 127.3 Mboe/d, with 89% gas and 11% oil. They target increasing oil production to 70,000 bbl/d by mid-2027 and potentially 100,000 bbl/d.
    • Investments: Invested approximately USD 700 million in 2024, with 60% in Fortín de Piedra. Plans to invest USD 2 billion from 2025 for shale oil projects.
    • Revenues: EBITDA for the mobile year to June 2024 was USD 809 million. Approximately 70% of sales are from gas and 30% from oil. FIX estimated their 2024 EBITDA around USD 350 million.

  • Pluspetrol S.A.

    • Detailed Profile: Pluspetrol is an independent energy company operating in several Latin American countries, with significant unconventional operations in Argentina's Vaca Muerta. They are involved in high-pressure gas fields and mature crude oil fields as well. Pluspetrol acquired assets from ExxonMobil in Vaca Muerta and holds a stake in the Oldelval pipeline to enhance crude evacuation.
    • Relevant Context: Pluspetrol is expanding its presence in Vaca Muerta through acquisitions and partnerships, highlighting the attractiveness of the region for independent producers. Their investment plans are substantial.
    • Case Study Snippet: Pluspetrol acquired the Bajo del Choique – La Invernada block from ExxonMobil and is actively seeking funding for its development plans in Vaca Muerta. They are also a partner with YPF in the La Calera block.
    • Volumes/Sizes: Production in Argentina was 47.9 Mboe/d in 2024, mainly from La Calera, consisting of 69% gas and 31% oil. They aim to reach 80 Mbbl/d of crude by 2028 and exceed 100 Mbbl/d in 2030, targeting a total production of 150 Mboe/d by 2028 and 200 Mboe/d from 2030.
    • Investments: Invested around USD 550 million in CAPEX in 2024 and plans USD 650 million in 2025, potentially increasing to USD 800 million annually. Invested USD 1.91 billion in asset acquisitions in 2024.
    • Revenues: Global ingresos in 2024 were around USD 2.3 billion, with about 50% from Peru. Expected EBITDA margin increase due to Vaca Muerta development.

  • Compañía General de Combustibles (CGC)

    • Detailed Profile: CGC is an energy company within the Corporación América group, with E&P operations in five productive basins in Argentina, being the main operator in the Austral basin. They are among the top seven largest gas and crude oil producers in the country. CGC exports all its crude from the Austral basin and sells Golfo San Jorge production domestically. They are considering acquiring new assets in Vaca Muerta.
    • Relevant Context: CGC represents a significant independent player outside of the Vaca Muerta majors, with a strong focus on conventional production in diverse basins. Their export activities from the Austral basin are notable.
    • Case Study Snippet: CGC is exploring the possibility of adding assets in Vaca Muerta in 2025. They recently agreed to transfer areas in Piedras Coloradas and Cacheuta to VenOil Energía.
    • Volumes/Sizes: Accounted for 3.0% of Argentina's total gas and oil production in 2023. Production in the first nine months of 2023 was 54 Mboe/d. In Q4 2024, average daily gas production was 6.197,7 Mm3 and oil production was 3.803,1 m3. Aiming for a 10% production increase in 2024.
    • Investments: Planned annual investments around USD 400 million for 2024-2025. However, they reportedly did not meet their planned investment target in northern Santa Cruz in 2024.
    • Revenues: Revenues totaled approximately USD 1.0578 billion in 2024, a 3.9% decrease from 2023. Adjusted Total EBITDA was about USD 282.1 million in 2024, an 18.1% decrease from 2023. FIX estimated their 2024 EBITDA near USD 350 million, while Moody's Local expected around USD 190 million. Sales in 2023 were USD 645 million with USD 170 million EBITDA.

Volumes and Sizes

Estimates of volumes and sizes are most prominent in the Upstream segment, reflecting the focus on production growth, particularly in Vaca Muerta.

  • Total National Production (2024): Argentina experienced a historic year for hydrocarbon production.
    • Crude Oil: 106,000 cubic meters per day in December 2024 (8.5% increase vs. Dec 2023).
    • Natural Gas: 143.9 million cubic meters per day in December 2024 (3% increase vs. Dec 2023).
  • Unconventional Production (2024):
    • Unconventional Oil: 56.4 thousand cubic meters per day in December 2024 (16.5% increase year-over-year). Constituted 53% of total oil production.
    • Unconventional Gas: 72.3 million cubic meters per day in December 2024 (10.6% increase year-over-year). Constituted 50% of total gas production.
  • Market Share (Production, 2024):
    • YPF was the largest producer of oil and gas in Vaca Muerta and the leading national producer of hydrocarbons.
    • PAE was the second-largest national oil and gas producer.
    • Vista Oil & Gas was the second-largest shale oil operator.
    • Tecpetrol was a major gas producer in Vaca Muerta.
    • CGC was among the top seven largest gas and crude oil producers nationally.
  • Company-Specific Production Volumes (2024):
    • YPF: Average daily unconventional oil production of 122,000 bbl, peaking at 138,000 bbl/d in Q4. Total hydrocarbon production averaged 536.1 Kboe/d, crude production 257.5 Kbbl/d.
    • PAE: 100 Kbbl/d of petroleum and 18.5 MMm3/d of gas nationally.
    • Vista Oil & Gas: Total production averaged 69.7 Kboe/d, with Q4 at 85.276 boe/d. Petroleum production in Q4 was 73.491 bbl/d.
    • Tecpetrol: 15.8 MMm3/d of gas in Vaca Muerta. Total production in H1 2024 was 127.3 Mboe/d (89% gas, 11% oil).
    • Pluspetrol: Production in Argentina was 47.9 Mboe/d (69% gas, 31% oil).
    • CGC: 3.0% of national gas and oil production in 2023. Q4 2024 average daily gas production was 6.197,7 Mm3 and oil production was 3.803,1 m3.
  • Investments (2024 & Planned 2025):
    • Total sector investments exceeded USD 11 billion in 2024.
    • YPF: Plans USD 5 billion investment in 2025 (65% in Vaca Muerta). Ambitions for USD 30 billion total investment over five years.
    • PAE: Invested > USD 1.595 billion in exploration and exploitation in 2024. LNG project involves > USD 1.65 billion in Phase 1.
    • Vista Oil & Gas: Invested > USD 1.1 billion in 2024 and plans > USD 1.1 billion in 2025.
    • Tecpetrol: Invested ~USD 700 million in 2024. Plans USD 2 billion investment from 2025 for shale oil.
    • Pluspetrol: Invested ~USD 550 million CAPEX in 2024 and plans USD 650 million in 2025, potentially increasing to USD 800 million annually. Invested USD 1.91 billion in asset acquisitions in 2024.
    • CGC: Planned investments ~USD 400 million annually for 2024-2025 but reportedly missed targets in 2024.

Specific national data on midstream capacities (e.g., total pipeline length, throughput volumes, storage capacity) and downstream capacities (e.g., total refining capacity, market share by product) for all players were not available in the provided sources, which focused predominantly on upstream production and investment, particularly in Vaca Muerta.

References

  • Suscripción primaria de Obligaciones Negociables | IOL invertironline. (2025, April 30). Retrieved from https://www.invertironline.com/Uploads/informe_on/16219_ypf_on.pdf
  • Compañía General de Combustibles S.A. - Moody's Local Argentina. (2024, February 19). Retrieved from https://www.moodys.com/retrievepdf.aspx?docid=PBC_1297734
  • Pluspetrol dio a conocer sus planes para el bloque estrella que compró a ExxonMobil. (2025, January 23). Retrieved from https://mejor-energia.com/pluspetrol-dio-a-conocer-sus-planes-para-el-bloque-estrella-que-compro-a-exxonmobil/
  • YPF lidera el ranking de producción de petróleo y gas en Vaca Muerta: el listado, empresa por empresa - Infobae. (2025, February 5). Retrieved from https://www.infobae.com/economia/2025/02/05/ypf-lidera-el-ranking-de-produccion-de-petroleo-y-gas-en-vaca-muerta-el-listado-empresa-por-empresa/
  • Tecpetrol proyecta una inversión de u$s 2000 millones para acelerar sus planes en el shale oil | Mejor Energía. (2024, December 12). Retrieved from https://mejor-energia.com/tecpetrol-proyecta-una-inversion-de-us-2000-millones-para-acelerar-sus-planes-en-el-shale-oil/
  • La petrolera de Techint invertirá USD 2.000 millones para aumentar su producción en Vaca Muerta - Infobae. (2024, December 12). Retrieved from https://www.infobae.com/economia/2024/12/12/la-petrolera-de-techint-invertira-usd-2000-millones-para-aumentar-su-produccion-en-vaca-muerta/
  • YPF presentó su plan a cinco años y anunció inversión de US$5.000 millones en 2025 – Comercio y Justicia. (2025, April 16). Retrieved from https://comercioyjusticia.info/energia/ypf-presento-su-plan-a-cinco-anos-y anuncio-inversion-de-us5-000-millones-en-2025/
  • Tecpetrol anunció una importante inversión en Vaca Muerta - ArgenPorts. (2024, December 12). Retrieved from https://argenports.com.ar/nota/tecpetrol-anuncio-una-importante-inversion-en-vaca-muerta
  • YPF se consolidó como el principal jugador de Vaca Muerta: ganó USD 2.393 millones en 2024 - Infobae. (2025, March 7). Retrieved from https://www.infobae.com/economia/2025/03/07/ypf-se-consolido-como-el-principal-jugador-de-vaca-muerta-gano-usd-2393-millones-en-2024/
  • PAE e YPF lideran la producción de hidrocarburos en 2024 - Energía Online. (2025, January 17). Retrieved from https://energiaonline.com/pae-e-ypf-lideran-la-produccion-de-hidrocarburos-en-2024/
  • Pluspetrol anuncia plan de desarrollo en Bajo del Choique - InfoEnergía. (2025, January 27). Retrieved from https://infoenergia.com/pluspetrol-anuncia-plan-de-desarrollo-en-bajo-del-choique/
  • Informe de Calificación - Tecpetrol. (2024, October 16). Retrieved from https://www.fixscr.com/Portals/0/Generales/RATING%20TEC%20VF.pdf
  • YPF Apunta a Liderar Vaca Muerta con Ambicioso Plan de US$30 Mil Millones. (2025, April 18). Retrieved from https://energia.lamatanza.digitalsig.com/ypf-apunta-a-liderar-vaca-muerta-con-ambicioso-plan-de-us30-mil-millones/
  • YPF creció en 2024 con el foco en Vaca Muerta - Energía. (2025, March 7). Retrieved from https://www.revistapetroquimica.com/ypf-crecio-en-2024-con-el-foco-en-vaca-muerta/
  • Vista invertirá más de US$ 1.100 millones en 2025 producir 100.000 barriles en Vaca Muerta - EconoJournal. (2024, October 25). Retrieved from https://econojournal.com.ar/2024/10/vista-invertira-mas-de-us-1-100-millones-en-2025-producir-100-000-barriles-en-vaca-muerta/
  • Vista Oil aumentó 40% su producción de gas y petróleo pero sus ganancias cayeron el año pasado - Yahoo Finanzas. (2025, February 26). Retrieved from https://finance.yahoo.com/news/vista-oil-aument%C3%B3-40-producci%C3%B3n-185300136.html
  • Pluspetrol SA - Informe de Calificación - Banco Provincia. (2025, April 23). Retrieved from https://bancoprovincia.com.ar/navegacion/images/pdf/pes/fma/Pluspetrol%20SA%20-%20Informe%20de%20Calificaci%C3%B3n.pdf
  • El plan de Vista para alcanzar los 100.000 barriles diarios en 2025 - EnerNews. (2025, March 10). Retrieved from https://enernews.com/el-plan-de-vista-para-alcanzar-los-100-000-barriles-diarios-en-2025/
  • PAE confirmó inversiones y cedió áreas en Santa Cruz - eolomedia. (2024, October 9). Retrieved from https://eolomedia.com.ar/pae-confirmo-inversiones-y-cedio-areas-en-santa-cruz/
  • En 2024 se invirtieron más de USD 11.000 millones en el sector petrolero - Infobae. (2025, January 20). Retrieved from https://www.infobae.com/economia/2025/01/20/en-2024-se-invirtieron-mas-de-usd-11000-millones-en-el-sector-petrolero/
  • Suscripción primaria de Obligaciones Negociables | IOL invertironline. (2025, January 17). Retrieved from https://www.invertironline.com/Uploads/informe_on/16115_pluspetrol.pdf
  • La petrolera Vista cerró el 2024 con un aumento de producción del 51% y una mejora en la facturación de 41% - Infobae. (2025, February 26). Retrieved from https://www.infobae.com/economia/2025/02/26/la-petrolera-vista-cerro-el-2024-con-un-aumento-de-produccion-del-51-y-una-mejora-en-la-facturacion-de-41/
  • Producción de petróleo promedio diaria por empresa | Argentina.gob.ar. Retrieved from https://datos.energia.gob.ar/dataset/produccion-de-petroleo-promedio-diaria-por-empresa/resource/35010306-5700-4374-a0b3-1f40d35d17c1
  • Compañía General de Combustibles SA anunció sus resultados anuales por el ejercicio económico de 2024. - CGC. (2025, April 11). Retrieved from https://www.cgc.com.ar/compa%C3%B1%C3%ADa-general-de-combustibles-sa-anunci%C3%B3-sus-resultados-anuales-por-el-ejercicio-econ%C3%B3mico-de-2024
  • Pluspetrol sale al mercado a buscar US$ 1.000 millones para financiar sus planes en Vaca Muerta - Forbes Argentina. (2025, January 17). Retrieved from https://www.forbesargentina.com/negocios/pluspetrol-sale-mercado-buscar-us-1000-millones-financiar-sus-planes-vaca-muerta-n32968
  • El ojo en Vaca Muerta: CGC estudia sumar activos en 2025 - Diario Río Negro. (2025, April 16). Retrieved from https://www.rionegro.com.ar/petroleo/el-ojo-en-vaca-muerta-cgc-estudia-sumar-activos-en-2025-3439375/
  • Estas son las empresas líderes en petróleo y gas de Argentina: YPF dominó en 2024. (2025, February 5). Retrieved from https://www.bloomberglinea.com/2025/02/05/estas-son-las-empresas-lideres-en-petroleo-y-gas-de-argentina-ypf-domino-en-2024/
  • Argentina tuvo un año histórico en la producción de hidrocarburos. (2025, January 24). Retrieved from https://www.argentina.gob.ar/noticias/argentina-tuvo-un-ano-historico-en-la-produccion-de-hidrocarburos
  • Vista Energy Argentina S.A.U. (2025, February 27). Retrieved from https://www.moodys.com/researchandratings/argentine-affiliate/288001/053119/288001
  • Compañía General de Combustibles SA - Informe de Calificación. (2024, May 3). Retrieved from https://www.fixscr.com/Portals/0/Generales/CGC%20Rating%20Report_Mayo%202024.pdf
  • Compañía General de Combustibles S.A. - Banco Provincia. (2025, February 27). Retrieved from https://www.bancoprovincia.com.ar/Uploaded/file/_fma_cgc_dic_2024.pdf
  • Luego del informe que presentó CGC ¿qué pasará con Palermo ... (2025, April 21). Retrieved from https://opisantacruz.com.ar/2025/04/21/luego-del-informe-que-presento-cgc-que-pasara-con-palermo-aike/
  • CGC acuerda con VenOil Energía la cesión de Piedras Coloradas y Cacheuta. (2025, January 13). Retrieved from https://energiaonline.com/cgc-acuerda-con-venoil-energia-la-cesion-de-piedras-coloradas-y-cacheuta/
  • YPF en Wall Street: Marín destacó la resiliencia de Vaca Muerta, adelantó que negocia un tercer proyecto de GNL con una 'supermajor' y adelantó cuánto petróleo producirá en 2030 • econojournal.com.ar. (2025, April 11). Retrieved from https://econojournal.com.ar/2025/04/ypf-en-wall-street-marin-destaco-la-resiliencia-de-vaca-muerta-adelanto-que-negocia-un-tercer-proyecto-de-gnl-con-una-supermajor-y-adelanto-cuanto-petroleo-producira-en-2030/
  • Vista anunció una inversión de u$s1.100 millones en 2025 en Vaca Muerta. (2024, October 24). Retrieved from https://www.ambito.com/economia/vista-anuncio-una-inversion-us1100-millones-2025-vaca-muerta-n5850184
  • Tecpetrol, otra petrolera argentina que avanza con el diseño de una planta propia de GNL. (2024, October 10). Retrieved from https://mejor-energia.com/tecpetrol-otra-petrolera-argentina-que-avanza-con-el-diseno-de-una-planta-propia-de-gnl/
  • CGC incumplió con el plan de acción, con la producción y con la inversión 2024 y la provincia lo quiere poner a administrar los recursos que deja YPF - OPI Santa Cruz. (2025, February 26). Retrieved from https://opisantacruz.com.ar/2025/02/26/cgc-incumplio-con-el-plan-de-accion-con-la-produccion-y-con-la-inversion-2024-y-la-provincia-lo-quiere-poner-a-administrar-los-recursos-que-deja-ypf/
  • Vista Energy B de C : Nota de resultados 2024 y 4T 2024 | MarketScreener España. (2025, February 26). Retrieved from https://es.marketscreener.com/cotizaciones/accion/VISTA-ENERGY-S-A-B-DE-C-101146477/noticias/Vista-Energy-B-de-C-Nota-de-resultados-2024-y-4T-2024-48323721/
  • Brochure Institucional 2024 - Pan American Energy. (2024, October 21). Retrieved from https://pan-energy.com/media/1j2gkvh1/brochure-institucional-paeg-2024.pdf
  • Pan American Energy S.L., Sucursal Argentina - Moody's Local ... Retrieved from https://www.moodys.com/retrievepdf.aspx?docid=PBC_1313329
  • COMPAÑÍA GENERAL DE COMBUSTIBLES S.A. Obligaciones Negociables Simples (no convertibles en acciones) Clase 37, denominadas, su - Banco Provincia. (2025, March 8). Retrieved from https://www.bancoprovincia.com.ar/Uploaded/file/suplemento%20cgc%20clase%2037.PDF