YPF And Oil Unions Agree To 16.2% Salary Rise

(Energy Analytics Institute, 2.Oct.2020) — Oil unions in Argentina reached an agreement with state oil and gas entity YPF SA for a salary increase of 16.2% over basic salaries as of March 2019 and which will be “non-remunerative” and payable from 1 September 2020.

YPF will also pay two “fixed non-remunerative” sums, with an amount to be defined, in November 2020 and February 2021, reported the daily newspaper Clarín.com 2 October 2020.

The salary increase was reached between YPF President Sergio Affronti and officials from Argentina’s oil and gas unions in Río Negro, Neuquén and La Pampa,

YPF looks to resume activity in Neuquén where the company does not have any operational equipment conducting activities in the Vaca Muerta formation, the media reported.

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By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.