Chile chooses Argus for pricing of crude imports from Argentina
Houston,12 January 2026
Chilean state-owned oil company Enap has chosen prices from the global energy and commodity price reporting agency Argus in its purchases of crude oil from Argentina.
Enap will use Argus price assessments in its contracts to purchase crude oil from companies operating in the Vaca Muerta formation, in the southern Argentinian province of Neuquén.
The deal between Enap and those companies runs until mid-2033 and involves a projected value of nearly $12bn, making it the largest commercial agreement in Enap's history and enabling the company to meet approximately 35% of its annual crude oil demand. Enap is Chile's sole refiner, with a crude processing capacity of approximately 220,000 b/d.
Argus Media chairman and chief executive Adrian Binks said: “We are pleased that Enap has chosen Argus to price its crude imports from Argentina. This is another example of major South American market participants having chosen our benchmark prices, and reflects our investment over the past decade to build Argus’ representation in and coverage of markets in this dynamic and increasingly important region.”
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Argus is the leading independent provider of market intelligence to the global energy and commodity markets. We offer essential price assessments, news, analytics, consulting services, data science tools and industry conferences to illuminate complex and opaque commodity markets.
Headquartered in London with nearly 1,500 staff, Argus is an independent media organisation with 30 offices in the world’s principal commodity trading hubs.
Companies, trading firms and governments in 160 countries around the world trust Argus data to make decisions, analyse situations, manage risk, facilitate trading and for long-term planning. Argus prices are used as trusted benchmarks around the world for pricing transportation, commodities and energy.
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