
Chevron's CEO, Michael Wirth, praised Javier Milei, whom he described as a "reformer" with a "serious agenda" for the economic direction that Argentina has taken since the libertarian's inauguration. Wirth highlighted progress towards the elimination of capital controls and mentioned that the banking system has stabilized in the South American country.
In a conference with investors held on Friday, Wirth expressed optimism about Argentina's economic situation, citing the reduction in inflation and the stabilization of the banking system as positive signs. He also emphasized the potential of Vaca Muerta, a significant unconventional oil field in Argentina, where Chevron has a strong presence with significant projects.
Chevron, a company that already has notable investments in Vaca Muerta, intends to join the development of the Vaca Muerta Sur project, a pipeline that will connect Neuquén with a deep-water port in Río Negro. Wirth stated that if economic reforms in Argentina are maintained over time, it would be a positive sign for the company.
Chevron's CEO also noted that Milei seeks to make Argentina a more attractive destination for foreign investment and mentioned that the development of Vaca Muerta, where the company was a pioneer over a decade ago, has been successful. Wirth highlighted the geological quality of the areas where they operate and expressed satisfaction with the progress observed so far, stating that they will closely monitor events in the country.