The state-owned energy company YPF announced that it has partnered with Italy’s ENI to begin the process of searching for oil in the waters surrounding Uruguay. Through the agency of its state-owned oil company, Ancap, Uruguay has an ongoing exploration agreement in place with foreign companies in seven offshore zones. In a statement, it was … Read more
The Argentine government has confirmed the elimination of export duties for conventional crude oil, following a meeting involving Economy Minister Luis Caputo, Interior Minister Diego Santilli, and Chubut Governor Ignacio Ramírez. The national and provincial governments have entered into a memorandum of understanding aimed at eliminating the 8% tax in Chubut. The agreement emerges amidst … Read more
Anchorage Capital Advisors LP has established an uncommon fund whose returns are contingent upon the resolution of a lengthy and contentious legal battle associated with the nationalization of Argentina’s largest oil enterprise. The fund, classified as a continuation vehicle, possesses a singular asset: a loan secured by a legal claim originating from the nationalisation of … Read more
President Javier Milei’s victory in the October midterms provided reassurance for numerous market sectors. Oil and gas emerge as significant beneficiaries, as La Libertad Avanza’s decisive victory has triggered a surge in corporate bonds. The companies within the sector exhibit a uniformly optimistic outlook. The majority are converging on the markets in search of investors … Read more
Recent developments suggest a potential shift in Argentina’s favor regarding the lawsuit concerning the expropriation of oil and gas company YPF, following a Wednesday appeals court hearing, as indicated by government sources and market analysis. For over ten years, Argentina has engaged in a legal struggle regarding the expropriation within the judicial system of the … Read more
A New York appeals court has granted Argentina’s request to halt the transfer of 51 percent of YPF shares as it considers appeals related to the ruling mandating the country to compensate two companies with US$16.1 billion due to the oil firm’s nationalization in 2012. Argentina will consequently retain its YPF shares during the ongoing … Read more
YPF, the Argentine state-operated energy giant, has acquired two production blocks within the Vaca Muerta geological formation from the French multinational TotalEnergies. The transaction, valued at US$500 million, signifies the European firm’s withdrawal from the shale oil and gas production area in Argentine Patagonia. Total Austral S.A., a subsidiary of TotalEnergies in Argentina, divested two … Read more
Vaca Muerta shale oil-drilling will slow as companies cut spending. Oil-drilling activity in Argentina’s Vaca Muerta shale patch is anticipated to decline in the short term as firms curtail expenditures, according to the chief executive officer of the region’s largest crude producer YPF SA. “We might have to pull out a couple of fracking crews,” … Read more
The Trump administration is formulating a statement supporting Argentina and opposing hedge funders’ purchase of 51% of YPF. Judge Loretta Preska in New York ordered the transfer of 51% of the flagship oil company’s shares (“turnover”) to hedge funds Burford Capital and Eton Park, which won the lawsuit for US$16.099 billion. Senior Trump administration officials … Read more
Argentina has decided not to engage in negotiations with Burford Capital, the firm spearheading the collection of a US$16-billion judgment against the South American country, as stated by a spokesman for President Javier Milei during a press briefing on Friday. The spokesperson, Manuel Adorni, refuted claims that the government engaged in any clandestine discussions. “Argentina … Read more