Milei’s Market-Friendly Agenda: Since taking office in December 2023, President Javier Milei has pursued aggressive free-market reforms that directly impact YPF and the energy sector. Early on, Milei floated plans to privatize YPF, igniting a buying frenzy in YPF’s stock Reuters. “YPF was one of several state-controlled companies he plans to sell,” Milei declared after his election, aiming to “create value” in the company before a sale Reuters. Global investors reacted swiftly – YPF’s U.S.-listed shares skyrocketed over 40% in a single session on Milei’s privatization comments Reuters. However, by January 2024 the administration backed off privatization as it negotiated a massive reform bill in Congress Argusmedia. YPF was dropped from the immediate sell-off list to help the reform package pass, reflecting political realities in Argentina’s Congress. Instead, Milei focused on loosening energy market regulations – eliminating state controls on oil and gas prices while retaining emergency powers to ensure supply Argusmedia.
