Economy & Business - May 2026

ARGENTINA | Chevron to launch new oil project. Economy Minister Luis Caputo announced on 6 May that US oil company Chevron plans to invest US$10bn in a new project under the government’s incentive for large investments scheme (Rigi). Caputo made the announcement after meeting with Chevron’s chief financial officer, Eimear Bonner, and chief corporate affairs officer, Laura Lane, in Los Angeles, California. Media reports have highlighted the significance of the planned Chevron project for the development of Argentina’s Vaca Muerta shale oil and gas fields in Neuquén province. The US oil giant has already invested in Vaca Muerta oil infrastructure development, through a partnership with other firms such as Argentina’s state oil company Yacimientos Petrolíferos Fiscales (YPF). News website Bloomberg Línea has highlighted that, when the new Chevron investment is finalised, it would be the first US oil project in Vaca Muerta which is not tied to YPF’s Vaca Muerta Oleoducto Sur (VMOS) consortium.

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