Karina's Feed
Nov 28, 2013

Exclusive: Argentina’s YPF says Repsol deal will attract oil investment

BUENOS AIRES (Reuters) – The compensation deal being negotiated between Argentina’s YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) and Spain’s Repsol (REP.MC: Quote, Profile, Research, Stock Buzz) will open opportunities for foreign companies to invest in the South American country’s untapped oil and natural gas resources, YPF chief Miguel Galuccio told Reuters on Wednesday.

The board of Repsol unanimously agreed on Wednesday to start formal talks with Argentina over a compensation offer for YPF assets that Buenos Aires seized last year.

Nov 28, 2013

Argentina’s YPF says Repsol deal will attract oil investment

BUENOS AIRES, Nov 27 (Reuters) – The compensation deal being
negotiated between Argentina’s YPF and Spain’s Repsol
will open opportunities for foreign companies to invest
in the South American country’s untapped oil and natural gas
resources, YPF chief Miguel Galuccio told Reuters on Wednesday.

The board of Repsol unanimously agreed on Wednesday to start
formal talks with Argentina over a compensation offer for YPF
assets that Buenos Aires seized last year.

Nov 23, 2013

Apache talking with Argentina about selling assets: sources

NEW YORK/BUENOS AIRES (Reuters) – Apache Corp (APA.N: Quote, Profile, Research, Stock Buzz) is in talks with Argentina’s state-controlled energy company YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) about a possible sale of its assets in the South American country, sources told Reuters on Friday.

U.S.-based oil and gas Apache has stakes in about 25 fields in Argentina. In May the company – which also has oil and gas operations in Egypt, Australia and the North Sea – announced plans to sell $4 billion of assets to cut debt and shore up its balance sheet and share price.

Jul 23, 2013

Analysis: Argentina shows new pragmatism with Chevron deal

BUENOS AIRES (Reuters) – After years of nationalist rhetoric and protectionist policies, Argentina is seeking to lure foreign investment to its Vaca Muerta shale oil and gas field in an bid to jumpstart the country’s energy sector and reverse a decline in output.

Just a year after stunning the market by seizing the country’s biggest energy company, YPF, the government eased regulations to sign a $1.24 billion production contract with U.S.-based Chevron Corp.

Jul 17, 2013

Chevron, Argentina’s YPF sign $1.24 billion Vaca Muerta shale deal

BUENOS AIRES (Reuters) – U.S. oil company Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) signed an agreement with Argentina’s YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) on Tuesday to invest $1.24 billion in the Vaca Muerta shale oil and gas formation, thought to be one of the biggest reserves in the Western Hemisphere.

It is the first major investment announced in Argentina’s petroleum sector since President Cristina Fernandez ordered the seizure of YPF from Repsol (REP.MC: Quote, Profile, Research, Stock Buzz) in May 2012, claiming the Spanish group had not invested enough in Argentina.

May 31, 2013

Argentina’s YPF to sue Repsol chief for board member salaries

BUENOS AIRES, May 31 (Reuters) – Argentina’s
state-controlled energy company YPF will sue the head of Repsol
over accusations that he overpaid YPF’s board of
directors when the Spanish oil major held a majority stake in
YPF, the government said on Friday.

At a shareholders meeting that ended in the early morning,
YPF decided to sue Repsol Chairman Antonio Brufau for
allegedly overpaying YPF’s board members between 2003 and 2011,
a statement posted on Argentina’s presidential website showed.

May 23, 2013

Argentina, Repsol struggle to bridge gap over YPF compensation

MADRID/BUENOS AIRES (Reuters) – A year after Argentina seized the local business of Spanish oil firm Repsol (REP.MC: Quote, Profile, Research, Stock Buzz), there seems little prospect of a quick deal on compensation despite signs that both sides would rather avoid a costly, drawn-out legal battle.

The Latin American country’s lack of funds and its limits on the control private firms have over their investments – which could deter Repsol from accepting other assets in any settlement – pose major obstacles to a deal, according to analysts.

May 17, 2013

Former Argentine dictator Videla dies in prison at 87

BUENOS AIRES (Reuters) – Jorge Rafael Videla, an austere former army commander who led Argentina during the bloodiest period of a “dirty war” dictatorship and was unrepentant about kidnappings and murders ordered by the state, died on Friday at age 87.

Videla was the first president to head the military junta that “disappeared” thousands of suspected leftists from 1976 to 1983, and he spent his final years behind bars for human rights crimes, including the systematic theft of babies born to political prisoners in secret torture centers.

May 16, 2013

Chevron says Argentina has world’s No. 2 shale oil resources

BUENOS AIRES, May 16 (Reuters) – Argentina has the world’s
second largest reservoir of unconventional oil after the United
States, concentrated in the Vaca Muerta megafield, said Ali
Moshiri, president of Latin American and African operations for
U.S. oil giant Chevron.

The company has signed an agreement with Argentine
state-controlled oil firm YPF, setting the stage for
Chevron to invest up to $1.5 billion in Vaca Muerta,
located in Argentina’s southern region of Patagonia.

Apr 9, 2013

Damaged Argentine refinery unit to restart in 30-45 days

BUENOS AIRES, April 9 (Reuters) – A damaged topping unit
inside Argentina’s largest refinery complex could take another
30 to 45 days to get back on line after a fire last week, YPF
Chief Executive Miguel Galuccio said on Tuesday.

One week ago, flash floods sparked a fire inside YPF’s La
Plata refinery, which had capacity of 28,500 cubic meters of
crude per day. The blaze severely damaged a coke oven and will
force the state-controlled company to boost fuel imports.