Argentine President Cristina Fernández de Kirchner announced on Tuesday that YPF energy company had made a large shale oil discovery in Neuquén province, a find that she considered to be of extreme importance, since “it will allow for us to maintain and further promote development” throughout the country.
Spain’s main oil company Repsol has listed 26.21 million shares of YPF on the New York Stock Exchange for 1.08 billion US dollars as part of a plan to divest its stake in its Argentine unit.
Repsol-YPF, Spain’s biggest oil company, said fourth-quarter profit more than doubled after refining margins improved and crude prices increased. Profit adjusted to exclude inventories and one-time items climbed to 499 million Euros from 241 million Euros a year earlier, the Madrid-based company said on Thursday.