YPF

President Milei is facing a deadline to pay $16 billion to former shareholders of the nationalized energy company YPF.

Argentina on May 24 announced an easing of foreign exchange controls for the shale oil and gas industry in a bid to promote investment and boost production.

In an area known as Vaca Muerta in Patagonia, Argentina has what is considered the second-largest shale gas reserve in the world and the fourth largest of shale oil.

Bolivian President Luis Arce announced Saturday the discovery of major new reserves of natural gas that officials said could eventually bring in $260 million a year.

A estimated deposit of  up to  100 billion barrels was discovered by a small British petroleum company, whose stock skyrocketed by over 200% in the wake of the announcement.

UK Oil & Gas Investments’ stock finally closed at 169% after the company announced that it found double the amount of oil drawn from the North Sea in the last 40 years.