Neuquén province sets record oil and gas output, fuels Argentina's export surge

In May 2026 Neuquén province recorded its highest ever oil production at an average of 636,295 barrels per day, a 35.8% increase over the same month a year earlier. Natural gas output also hit a historic peak of 115.15 million cubic metres per day, up 13.8% from April. Non‑conventional shale operations supplied about 97% of the province’s oil and 91% of its gas.

Between January and May 2026 Neuquén’s hydrocarbon sales more than doubled, rising 103.5% year‑on‑year to roughly $3.45 billion, compared with $1.70 billion in the same period of 2025. The province’s share of Argentina’s total energy exports grew from 38.3% to 54.7%, and its contribution to overall national exports increased from 5.2% to 8.5%.

Argentina’s trade surplus reached a record $3.504 billion, driven in part by a 44.9% surge in energy‑related exports, largely supplied by Vaca Muerta. In May, gas exports averaged 9.29 million cubic metres per day, with the main buyers being Chile and Uruguay.