Investment: Peter Thiel steigt bei Argentiniens größtem Öl-Exporteur ein

US tech billionaire Peter Thiel has significantly increased his stake in Vista Energy SAB, Argentina's largest oil exporter, as reported by a SEC filing last Friday. The investment group of the hedge fund manager now holds nearly 1.2 million shares of Vista, representing a value of about $76 million as of June 30. This makes Vista the only non-US company among the fund's listed investments.

Thiel has been traveling to Argentina multiple times this year, including a visit to Buenos Aires where he was spotted at a chess club. This could suggest Thiel's investment may extend beyond private interests and financial holdings. Thiel met with President Javier Milei in April, two ideologically aligned individuals who advocate for libertarian policies.

Milei is currently driving a radical market economy reform in Argentina after two decades of heavy regulation. Thiel asked Milei about the sustainability of the reforms and tax revenues during their meeting. Thiel's spokesman did not provide a statement at the time. Vista Energy, founded in 2017 by Miguel Galuccio, has become the country's largest oil exporter after Galuccio pushed for fracking in Argentina's Vaca Muerta shale formation, which was criticized by environmentalists.

Vista currently produces around 160,000 barrels of oil and gas per day, with about 70 percent going to export. The company plans to increase its production further. The Vaca Muerta region is becoming a growth engine for the Argentine economy, aiming to approach a million barrels per day. Under Milei, international capital markets for drilling companies and pipeline operators have reopened, accelerating infrastructure development including the Vaca Muerta Shale Oil Pipeline and Export Port VMOS, of which Vista is a stakeholder.

The project is expected to be completed next year, increasing Argentina's crude oil exports significantly to the world market. Other US investors are also positioning themselves: Chevron is expanding its presence in the Patagonian shale region, and oil mogul Harold Hamm is also entering the sector.