Argentina's state-run oil company YPF is disappointed by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.
The chief executive officer of Argentina’s state-owned oil company YPF has resigned and a six-member executive committee will run the company. The company did not name a replacement for CEO Ricardo Darre, who had held the job since July of last year. Darre, an engineer, had previously worked for French oil company Total in the United States.