Milei loses top energy official in potential dent to Argentina shale boom
Daniel González, an ex-Merrill Lynch investment banker who’s also been chief executive of state petroleum giant YPF SA, was viewed as a kindred spirit by oil and gas companies. Leer más
The resignation of President Javier Milei's energy czar, Daniel González, could potentially hinder Argentina's ambitious push to tap into its shale reserves ahead of the upcoming re-election campaign. González, a former Merrill Lynch investment banker and CEO of state oil giant YPF SA, was known for his pro-business stance and played a pivotal role in streamlining energy subsidies and prices.
He also spearheaded Milei's investor initiative, RIGI, which has attracted tens of billions of dollars in applications, primarily for oil wells in Patagonia. RIGI offers investors tax, currency, and customs benefits for 30 years, along with the right to bypass local courts for international arbitration. Energy analyst Juan Jose Carbajales noted a significant increase in RIGI applications, indicating growing interest in Argentina's shale boom.
However, the departure of González, who was praised for accelerating approval processes, may introduce delays in evaluating pending applications. Political observers caution that a more interventionist government could potentially jeopardize ongoing RIGI projects. Despite acknowledging the slowdown, González expressed the need to expedite RIGI approvals to prevent a negative chain reaction, assuring that the remaining team would continue working despite his exit.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
