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.
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.
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.
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.
BUENOS AIRES (Reuters) – Falkland Islanders mourned Margaret Thatcher on Monday, revering her as their liberator after a 1982 invasion by Argentine forces, but many Argentines bitterly recalled her role in defending the South Atlantic territory.
Flags flew at half-staff on the Falklands after news of Thatcher’s death on Monday aged 87. The head of the local legislative assembly said it was a day of great sadness and another resident praised her as “our Winston Churchill.”
BUENOS AIRES (Reuters) – Argentina’s pope, Jorge Bergoglio, is a fearless critic of the powerful and a bold advocate of the poor, but some say he let down his country by staying silent during a “dirty war” dictatorship.
Links between some high-ranking Roman Catholic clergymen and the military regime that kidnapped and killed up to 30,000 leftists between 1976 and 1983 tarnished the Church’s reputation in Argentina and the wounds have yet to heal.
BUENOS AIRES, March 11 (Reuters) – Argentina’s
state-controlled energy company YPF said on
Monday the high-cost of equipment could force it to scale back
an ambitious drilling program this year at the country’s vast
shale oil deposits.
YPF, which was renationalized last year as Argentina battles
to reverse a long decline in natural gas and oil output, aims to
drill 132 oil wells at the Vaca Muerta shale formation in
Patagonia this year, part of a plan to fund development of the
project from cash flow.
BUENOS AIRES, March 6 (Reuters) – Grains powerhouse
Argentina has authorized exports of 5 million tonnes of wheat
for the crop that farmers will begin planting in the coming
months, sources said on Wednesday, a move that could help ease
concerns about tight global supplies.
An industry source, who asked not to be named, and a
government source, who also asked for anonymity, told Reuters
that officials told farmers of the 2013/14 wheat export quota at
special meeting held on Wednesday night.
BUENOS AIRES, Dec 28 (Reuters) – Argentina’s
state-controlled energy company YPF said on Friday it had signed
a preliminary agreement with Bridas International to develop
shale resources that would require an initial investment of $1.5
billion over two years.
The details of the accord, which also includes a $500
million loan by Bridas to YPF for future development of the
non-conventional fields, will be defined over the next 60 days.
BUENOS AIRES (Reuters) – Argentine energy company YPF (YPFD.BA: Quote, Profile, Research, Stock Buzz) (YPF.N: Quote, Profile, Research, Stock Buzz) signed a partnership deal with U.S. oil major Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) on Wednesday that aims to pave the way for major investment in the South American country’s vast shale oil resources.
YPF’s chief executive, Miguel Galuccio, said earlier this month he expected his company to finalize a joint venture agreement with Chevron — Argentina’s fourth-largest oil producer — before the end of the year.