Argentina’s nationalized YPF oil and gas corporation will issue bonds for 3.5 billion Pesos (760 million dollars) as part of its push to reduce fuel imports by investing in domestic output, the energy company said in a letter to regulators on Monday.
Federal Planning Minister Julio de Vido announced that several members of the Argentine Government would be flying to China in September in order to close several cooperation agreements between Chinese oil companies and YPF, intended to deepen the bilateral relations.
Venezuelan president Hugo Chavez announced he expected to sign an oil/gas alliance between Argentina’s YPF and PDVSA (Venezuelan Petroleum) when he meets with his peer Cristina Fernandez in Brasilia in the framework of the Mercosur extraordinary summit to officially incorporate the country as full member of the trade group.
Interview with Sam Logan (*) Angering Spain by seizing and nationalizing a majority of Repsol's shares in YPF and ramping up the rhetoric over the Falkland Islands as exploration deals promise to make the territory a major oil player overnight, Argentina is making few friends in the fossil fuels industry these days.
Argentina's nationalized oil and gas company YPF said on Friday it had bought back 79 million dollars in 2028 bonds that it was obliged to repurchase in the case of a state takeover.
Argentina's state entities must purchase diesel, gasoline and lubricant supplies for cars, boats and planes solely from YPF, the recently nationalized oil company, and not competitors like ExxonMobil, Petrobras or Shell, the government ordered Thursday.
At least four leading US oil corporations are interested in investing in Argentina’s nationalized YPF but are demanding a law that guarantees investments, direct export of oil and remittance of benefits.
Argentina’s seized oil and gas corporation YPF drastically cut dividend payments and created an investment fund following the first shareholders meeting since the nationalization by President Cristina Fernandez.
Argentina’s nationalized oil and gas corporation YPF announced the incorporation to its staff of two “outstanding professionals” for its technology department, Bernard Gremillet and Gustavo Bianchi, which at some time belonged to the company but had left for personal reasons.
Brazilian bank Itaú Unibanco purchased a 3.6% stake in Argentina’s nationalized oil company YPF, an operation involving 157.8 million dollars.