France’s TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina. Progress with the divestment comes after CEO Patrick Pouyanne said earlier this year that he’d be willing to offload stakes in the fields at the right price. Global players like Exxon Mobil Corp., Malaysia’s Petronas and Total are exiting as libertarian President Javier Milei’s reforms, including looser capital controls, boost valuations for shale acreage. That’s opening a window of opportunity for them to sell and reallocate the capital to priority assets elsewhere. Total’s Argentine shale gas assets aren’t currently up for sale and the company is even spearheading efforts to turn Argentina into a noteworthy supplier of the fuel to neighboring Brazil.
SOURCE: WORLD OIL
https://worldoil.com/news/2025/6/27/bidders-emerge-for-totalenergies-argentina-shale-oil-acreage