Foreign Affairs minister Jose Manuel García-Margallo assured that the Spanish government “is doing what must be done” to defend the interests of Spanish companies in Argentina, but has avoided releasing details.
Argentina’s largest energy company YPF, dropped the most in the Buenos Aires Stock Exchange’s leading share index on Wednesday after the federal tax agency banned it from importing and exporting because of an unpaid tax bill.
Energy company YPF announced the finding of conventional oil at the Cuenca Neuquina, in the Chachahuén bloc, at the Southern area of Mendoza province, that is equivalent to 40 million barrels.
YPF Argentina reported Tuesday that its first offshore well drilled in the so called Malvinas basin proved dry. The operation was equally shared with Brazil’s Petrobras and Pan American Energy, a Chinese-Argentine group.
Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.
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.