Argentina's YPF planning to cut capital expenditure by at least 20/25%

Monday, March 7th 2016 - 05:12 UTC

Full article 6 comments

Argentina's state-controlled energy company YPF will cut capital expenditure by at least 20-25% this year to mitigate the impact of the global oil price rout — leading to growing concerns among union leaders, who claim up to 2,000 workers would be laid off because of the company’s decision. Read full article

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ChrisR
Galuccio’s ALIVE! (sorry Flash).

I thought this character, who has failed miserably with YPF, had left to go back to where he came from - except I doubt they would take him now with the financial problems all oil related companies are facing.

YPF. What to do with them? Never really shown any potential, best to cut the losses and buy what they need on the spot market at present.
Mar 07th, 2016 - 10:26 am - Link - Report abuse 0
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Klingon
I am paying up the ass for fuel and they still can't turn a profit.
They need to tell the unions to piss off as there is no money.
Mar 07th, 2016 - 12:04 pm - Link - Report abuse 0
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TomKey
@2, I work in Neuquen or PAE, and agree with you 100%, the unions are killing Argentina, and even more so in the oilfield. I have worked in many different countries in my 20 years in the oilfield and have never witnessed the stupidity and absolute ridiculous demands of the oilfield unions that exist here in Argentina. The people who work in the oilfield are very highly paid, (much more than other groups), yet they continually complain and ask for more. The crisis in the oilfield is a world wide issue, but these idiots refuse to understand that reality. If I had the power, I would get rid of all unions period, they no longer serve a purpose in 2016, except to screw things up
Mar 07th, 2016 - 12:23 pm - Link - Report abuse 0
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Lucifer
So it begins, the Macri government will quickly figure out that paying 2x more for oil than you can get on the open market isn't good for anyone.

Just another way the Kirchners screwed the Argentine people.
Mar 07th, 2016 - 06:16 pm - Link - Report abuse 0
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merlin
Did I recently refer to it as an overgrown banana republic?
Perhaps the faint glimmer of reality is dawning.
If the job you've got is no longer you go and get another one.
Did it myself,several times,is possible.
But you may have to move house,people do this,surprisingly often,my wife runs an estate agency,she knows this.
Perhaps the benefit scroungers in the UK who live on the utterly immoral tax credits need to be told that they don't need tax credits,just a better job.
I am utterly unexceptional,but if I could do it,so can they.
Life is not,as Wittgenstein observed always enjoyable.
But the harder you work,worry,and take risks,the richer you get.
And the BMW in my drive is all mine.
M
Mar 07th, 2016 - 06:43 pm - Link - Report abuse 0
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Lucifer
Miguel didn't last too long after The Ks.
Wonder why?
Mar 09th, 2016 - 07:12 pm - Link - Report abuse 0
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