Argentine government entities can only buy fuel from YPF
Argentina's state entities must purchase diesel, gasoline and lubricant supplies for cars, boats and planes solely from YPF, the recently nationalized oil company, and not competitors like ExxonMobil, Petrobras or Shell, the government ordered Thursday.
Argentine President Cristina Fernandez announced the measure in a decree published in the Official Bulletin, part of a battery of related orders.
The others include requirements for state workers to only fly on business with the state airline Aerolineas Argentinas and to receive their salaries through Banco de la Nacion Argentina, a state bank run by the national government.
Economy Minister Hernan Lorenzino and Cabinet Chief Juan Manuel Abal Medina will provide further details on these and related measures next week according to Argentine press reports.
The YPF decree states that contracts in place for fuel purchases from competitors will be respected until termination, but not renewed.
YPF, which came under state control in May through the seizure of 51% of the shares from Spain's Repsol, plans to invest more than 35 billion dollars through 2017 to turn around sagging oil, natural gas and refined goods production by squeezing more out of mature fields, boosting refinery output and developing shale resources.
YPF has said it wants to finance much of the spending through cash flow from its operations, including on the sale of petroleum goods.
The company produces a third of the country's 570.000 b/d of crude and 23% of the 120 million cu m/d of gas and has a 50-60% share of diesel and gasoline sales.
Its competitors in diesel and gasoline sales include ExxonMobil, Petrobras, Shell and Oil M&S.
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they make good bedfellows
It's quite interesting as YPF don't seem able to get enough oil out of the ground as it is, let alone enough for this potential increase.
I expect Aerolingus Argentina will be grounded soon as YPF won't be able to supply them with enough aviation fuel and they won't be allowed to buy from other suppliers, assuming they have the funds to do so.
All in all the future isn't looking bright at the moment, is it?
But in order to ease TTT, Guzz, Think and DanyBerger's minds, maybe the Chinese will help you... If you BEG them enough.
First “YPF don't seem” don’t you see something wrong here?????
Or are you inventing a new English grammar?
Second “All in all the future isn't looking bright at the moment, is it?”
Yes it is looking very bright down here especially compared with UK.
Do you have any doubt?
Talk about cutting off your nose to spite your face, Kretina and her troupe are raving mad!!!!!
You can only rob Peter to pay Paul for so long.
This is ending spectacularly!
The UK isn't exactly booming, where is, but it's a lot better than most of Europe and it's a lot better than some tinpot LatAm country with 37% inflation, three different exchange rates, increasing protectionism and free trade barriers and a plastic loon at the helm screaming abuse at anyone who wants to change course. Good luck with that.
I do however disagree that state workers should be forced to bank with the government approved bank. Workers should have the right to bank with who ever they like. These workers will be the first to have their accounts forcibly pestified and the first to loos their depsoits if things go wrong. It is for the citizen themselves to decide where and how their money is safest not for a government to expose these workers to risk caused by their actions.
You can only fool some of the people all time.
One time you might be right but don't say you told us so because you never give a time scale.You just blurb out neo-liberal drivel.
Until 1941, USA Army uniforms were made overseas, I don't consider that discrimnation at all.
”Argentina! Abandon hope all ye that enter here!
Firstly you try to distract from this article by saying my grammar is wrong (which it isn't), and secondly you produce no counter arguments.
Very weak Dany, but I suppose as Argentina is led deeper into financial oblivion it becomes harder for the Argentine governments sicophants and apologists to come up with any supporting evidence.
“Dany - nothing wrong with LEPRecon's grammar. Pretty embarrassing to pick someone up on that when you are wrong.”
YPF does, IBM does, BP does..
YPF owns, IBM owns, BP owns...
YPF has, IBM has, BP has...
YPF is, IBM is; BP is...
YPF, IBM, BP, etc are singles juridical entities (Legal personality, juridical personality, juristic personality, etc.).
So can you explain me how can you use “as YPF don't seem”. And then in the same sentence then “as it is” refferring to the same subject?????????
Can you see how EnginnerAbroad referrers to YPF as a 3er person?
“YPF needs huge investment and if one way of increasing its profits...”
I’m really anxious to get your English grammar lesson.
Me waiting with anxiety me cans not goes to sleeps without knows good English.
@LEPRecon
Oh! Poor LepWrong from BirbingJam he cannot read or write his own language and jumps over I (ha ha) like crazy.
And more shocking is that he thinks that he is absolutely right like when he talks about the chance to win a war over Argentina.
Don’t worry I forget you and as sign of friendship me (haha) found some “Free English Classes from Cambodia” www.youtube.com/watch?v=dM4NTCUX49A
Don’t worry you don’t has (haha) to thank I (haha) as me always like to help people with learning problems.
“First “YPF don't seem” don’t you see something wrong here????? Or are you inventing a new English grammar?”
Picking on grammar in a multi lingo debate is a sure sign of the picker lacking rational arguments.
Sure so why do you do this all the time specially with not English speakers?
#11 Well if you want them to nationalise the whole thing...
#16 Yes Scotland's much better (joke!)
Don't confusing that with support. There are times when you piss in the wind even you will not get wet.
Isn't that better content and improved grammar.
Comment are welcome,of course(bearing in mind the content is irrelevant and the grammar is not too important )
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