Argentina's state-run energy company YPF said on Friday it plans to focus on boosting natural gas production in 2016, while also pursuing a gradual reduction in drilling and completion costs and looking for more partnerships for shale and tight play projects. It also admitted that potential investors are waiting for post-election clarity on economic and energy policies before making any decisions.
Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.
The current managers of YPF accused Spain’s Repsol of deliberately delaying or ignoring contracts to supply Argentina with liquid natural gas, following the seizure of a majority stake in the company belonging to the Spanish corporation.
Argentina will seize natural-gas producer YPF Gas SA as part of plans to boost control of its natural resources and increase production, two days after seizing oil producer YPF SA.