Chevron, the world’s second-biggest oil company signed the first agreement with Argentina’s government since it nationalized YPF in 2012 to help develop shale oil and natural gas in the Vaca Muerta basin of the Patagonian province of Neuquen.
Argentina will offer energy companies incentives if they invest 1 billion dollars or more over a five-year period as the country struggles to lift output and pare fuel imports a year after seizing a majority stake at YPF from Spain’s Repsol.
Argentina's Supreme Court revoked a 19 billion dollar embargo on the assets and future income of Chevron Corp.'s Argentina subsidiary, giving the U.S. oil giant a victory in a decades-old battle with indigenous groups in Ecuador.
Argentina’s nationalized oil company YPF signed on Wednesday an agreement with US oil major Chevron Corp to define the terms and conditions of Chevron's investment of 1.5 billion dollars in the vast Vaca Muerta shale field.
US Chevron and Argentina’s nationalized YPF signed a partnership to on Wednesday to invest 1 billion dollars to develop the shale-oil reserves of Vaca Muerta in the hydrocarbons rich Patagonian province of Neuquén.
Argentina’ nationalized oil and gas corporation YPF is said to be in talks with Norway’s Statoil about a possible partnership as part of its 37 billion dollars drive to develop Argentina’s energy reserves. It is close to signing deals with US oil giant Chevron as well as Bridas Corp, the Chinese-Argentine joint venture, the Financial Times reported on Sunday.
Spain’s Repsol has sued Chevron Corp. in New York seeking to prevent the US oil giant from developing energy assets in Argentina. The federal lawsuit filed Tuesday follows other legal claims that the Spanish oil company has filed in Madrid and Washington, demanding more than 10 billion dollars in compensation for the majority stake in the YPF oil company that Argentina's government took over in April.
Ecuador's President Rafael Correa said he discussed with his Argentine counterpart Cristina Fernandez the legal dispute with US oil giant Chevron that has spilled over into her country.
Spanish oil company Repsol has pressed charges against Chevron over “disloyal competition”, after the US company reached an agreement with its former Argentine branch YPF to conduct explorations in the Vaca Muerta reservoir, a company spokesman announced.
Argentina's recently nationalized oil and gas producer YPF SA and the US Chevron Corporation have signed a memorandum of understanding to explore for unconventional energy in Vaca Muerta, in the Patagonian province of Neuquen.