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Shell Rejects Report of Vaca Muerta Sale, Calls It 'Fake News'

Executives emphasized ongoing portfolio reviews without any plan to sell in Argentina.

Wael Sawan, chief executive officer of Shell Plc, during the Energy Asia Summit, in Kuala Lumpur, Malaysia, on Tuesday, June 17, 2025. The summit runs through June 18. Photographer: Samsul Said/Bloomberg
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Shell produce 50.000 barriles diarios de petróleo y 1,2 millones de metros cúbicos de gas en la Argentina
Más allá de los ajustes de portafolio a nivel global, el mensaje del CEO de Shell, Wael Sawan, al mercado fue claro: no está vendiendo Vaca Muerta ni planea retirarse del país.

Overview

  • At a Feb. 5 investor call, CEO Wael Sawan and CFO Sinead Gorman dismissed the sale rumor and directly labeled the report as fake news.
  • Reuters had reported in recent days that Shell explored selling part or all of its Vaca Muerta interests, citing three unnamed sources and a potential multibillion-dollar valuation that it noted was uncertain.
  • Shell reaffirmed its commitment to Argentina and to Vaca Muerta operations, noting the basin remains a focus within its upstream strategy.
  • Leaders said the company continually evaluates global M&A opportunities with no sacred cows, clarifying that such reviews do not include a planned Vaca Muerta divestment.
  • The denial accompanied strong results, including $18.5 billion in 2025 adjusted earnings and $43 billion in operating cash flow, alongside buybacks and a dividend increase.