Horacio Marín: "Argentina will consolidate as an energy power"

Horacio Marín, president of YPF, gave an exclusive interview on The Right News Show in which he analyzed the strong growth that the state and private oil company is experiencing, the potential of Vaca Muerta, and Argentina's prospects as an energy exporter. The executive, chosen by the government of Javier Milei to lead the company, highlighted the jump in production and the role of investments to accelerate the sector's expansion.

During the interview, he also addressed the impact of the relationship between Javier Milei and Donald Trump, international financing, the RIGI, the development of liquefied natural gas (LNG) projects, and the outlook for Argentine exports. Marín stated that the country is undergoing a structural change and anticipated that YPF has growth objectives that could place it among the world's leading oil companies.

Marín highlighted YPF's growth

One of the main focuses of the interview was the jump in YPF's oil production. Marín explained that when he took over the company, its own production was approximately 95,000 barrels per day, while it currently reaches around 250,000 barrels per day.

“When I arrived at YPF, it was at 95 thousand barrels,” explained Marín, who emphasized that the growth occurred in just two and a half years.

The president of YPF also anticipated that the expansion will continue over the next year, especially with the new infrastructure projects that are being completed.

“We are finishing the largest oil pipeline ever built in Argentina with eight companies,” he noted.

According to Marín, the development of the industry requires YPF to take a leadership role, but also for the various companies in the sector to accompany with investments.

“We came to work with the industry. YPF needs to lead, but we all have to invest,” he stated.

Vaca Muerta aims to make Argentina a major exporter

The development of Vaca Muerta occupies a central place in YPF's growth strategy and in the country's energy future.

Marín projected that Argentina could reach a volume of one million barrels of exports over the next decade, a level that would represent a historic change for the national energy sector.

“We should be at one million barrels of exports in the next decade, which is a very important number,” he affirmed.

The executive highlighted that Argentina had never reached that level of exports and stated that the growth in production will structurally modify the country's energy balance.

“Argentina was energy deficient until very recently,” Marín recalled.

The goal, as he explained, is to transition from a country that needed to import energy to one capable of generating large surpluses to sell abroad.

The ambitious LNG project

Oil is not YPF's only bet. During the interview, Marín also highlighted Argentina's potential in liquefied natural gas (LNG).

The president of YPF explained that the company is working with ENI and a subsidiary of ADNOC on an LNG project, in addition to another smaller-scale development alongside Argentine companies.

Together, the projects contemplate a capacity of 24 million tons, with a first phase of 12 million tons.

“This year we want to be able to sign the FID for 12 million tons and next year the extension,” Marín explained.

For the head of YPF, the development of LNG will allow Argentina not only to supply the region but also to become a relevant supplier for Europe and eventually Asia.

Marín highlighted the impact of the relationship between Milei and Trump

When asked about the relationship between Javier Milei and Donald Trump, Marín emphasized the impact that Argentina's international alignment has on the financing and growth possibilities of YPF.

“It makes my job easier because financing is very important for the great growth we are achieving,” he stated.

The president of YPF maintained that support and the relationship with the United States are especially relevant for accessing the necessary capital to develop large energy projects.

“Without that alignment with certain countries and especially with the United States, it would be very difficult for us to grow at the speed we are doing,” he explained.

Marín contrasted this situation with the last two decades, during which, he noted, Argentina had not managed to develop its oil and gas production at the current pace.

The RIGI as a tool to attract investments

Another point highlighted by Marín was the Regime of Incentives for Large Investments (RIGI), which he pointed out as a fundamental tool to generate confidence among international investors.

“It is a law called the Regime of Incentives for Large Investments, which provides legal stability,” he explained.

According to the executive, the regime establishes conditions that allow large companies to make investment decisions with greater predictability.

Marín also highlighted the improvement in the macroeconomic scenario and the decrease in inflation as factors that favor the return of international capital.

“Investors see a significant growth and security for investing in Argentina,” he stated.

In that sense, he explained that even YPF largely depends on access to international financing to sustain the strong pace of investments.

“We are achieving this growth thanks to foreign investors, because we issue negotiable obligations and they provide us with those loans to make this sudden growth possible,” he detailed.

YPF aims to be among the 20 largest oil companies in the world

Marín also set an ambitious goal for the company: to make YPF one of the leading oil companies internationally.

“YPF will become one of the 20 largest oil companies in the world,” he asserted.

The executive also projected that the company could reach over US$15 billion in exports, while the joint development of Argentine energy projects could generate over US$50 billion in exports.

The magnitude of the change, according to Marín, can make energy the initial engine of a broader economic transformation.

“It is a very big change,” he stated, referring to Argentina's transition from energy deficit to a scenario of strong export growth.

“Argentina will consolidate” as an energy power

Towards the end of the interview, Marín suggested that the growth of the energy industry could serve as a starting point to develop other strategic sectors of the Argentine economy, including critical minerals.

The executive maintained that the development of oil, gas, and LNG can create the necessary conditions for other industries related to natural resources to expand later.

“Energy is an important factor in the economy today in our country,” he affirmed.

In this context, Marín considered that the country has a historic opportunity to leverage its natural resources, attract investments, and increase its exports.

YPF's strategy involves accelerating Vaca Muerta's production, developing new infrastructure, advancing with LNG, and expanding access to international financing. With this scenario, the president of the company envisions a profound transformation of the Argentine energy sector and concluded with a strong statement: “Argentina will consolidate”