The state-run energy firms of Chile and Argentina said on Wednesday they had inaugurated a US$ 354 million project to increase production of natural gas off the southern tip of South America.
Argentina’s state-owned oil company YPF SA expects shale oil and gas production to grow 35% in 2018, as costs in the Vaca Muerta shale play continue to fall, Chief Financial Officer Daniel Gonzalez said. Still, declining production in mature fields means overall hydrocarbon output will fall 2 to 3% in 2018 after a 5.3% reduction in 2017, Chairman Miguel Gutierrez said.
Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos (US$ 627.16 million), the company said, rebounding from a 28.4 billion-peso loss in 2016.
Argentina's state-owned oil company YPF will pay US$ 114 million to Transportadora de Gas del Mercosur (TGM) to end a conflict that began in 2009 when the company suspended the shipment of natural gas.
Planning Minister Julio De Vido denied that the Government plans the “intervention” of the energy sector and clarified that “we demand investment and production plans. This is not an intervention, simple more planning.”
Venezuelan President Hugo Chavez advised Repsol to seek a friendly agreement in its dispute with Argentina and noted that the Spanish energy company held important assets in his country.
Argentine seized YPF energy company informed on Friday that its American Depositary Shares (ADS) were listed back in to trade in New York after being de-listed for almost two months for not complying with auditory regulations.
Miguel Galuccio the new CEO of seized oil corporation YPF had already discussed conditions with the Argentine government for the job back in 2009, reveals the Spanish press. At that time no agreement was reached because the salary and other conditions he demanded were considered excessive.
The Argentine government expressed “great concern” on Monday following the decision from the Spanish government to ban bio-diesel “not produced within the European Union” from the country.
After a two-day session, Argentina’s Lower House voted late Thursday night 207-32 in favour of expropriating energy corporation YPF, clearing the way for President Cristina Fernandez to sign the controversial bill into law.