(Argus, 28.Apr.2021) — Protesters in Argentina have lifted roadblocks that had crippled shale oil and gas activity and thwarted fuel distribution for almost three weeks. Healthcare workers started blocking roads around the Vaca Muerta shale patch in Neuquen province on 7 April in an effort to secure higher pay. They […]
Category: Argentina
Argentina energy
TGS Files 2020 Annual Report
(TGS, 27.Apr.2021) — Transportadora de Gas del Sur S.A. filed its annual report on Form 20-F for the fiscal year ended 31 December 2020 with the U.S. Securities and Exchange Commission (SEC). The 2020 Annual Report can be accessed by visiting the company’s website at www.tgs.com.ar as well as on […]
Vista Oil Releases Sustainability Report
(Vista Oil & Gas, 27.Apr.2021) — Vista Oil & Gas, S.A.B. de C.V. announced the publication of its inaugural 2020 Sustainability Report, underscoring the company’s commitment to embed Environmental, Social and Governance (ESG) practices within its business strategy to create value in the present while building a better future for […]
Argentina Ramping Up LNG Imports
(Natural Gas Intelligence, 26.Apr.2021) — Argentina has commissioned a second floating storage and regasification unit (FSRU) to meet higher-than-expected natural gas demand this upcoming winter in the Southern Hemisphere. The country’s natural gas buyer, Integración Energética Argentina (Ieasa), has leased an Excelerate Energy LP FSRU for the Bahía Blanca port. […]
Pan American Announces Expiration Of Tender Offer
(Pan American Energy, 23.Apr.2021) — Pan American Energy, S.L., Argentine Branch, a branch of Pan American Energy, S.L., a Spanish limited liability company, announced today that the previously announced tender offer for cash for any and all of its outstanding 7.875% Notes due 2021 (CUSIP: 69783TAA2 and 69783UAA9/ISIN US69783TAA25 and […]
Protests Erode Argentina’s Shale Flow
(Argus, 21.Apr.2021) — Argentina’s shale oil and gas production is starting to decline and fuel shortages are worsening because of prolonged roadblocks by healthcare workers in Argentina’s southwestern province of Neuquen. The blockades, which started on 7 April and now number around 30, have led to production losses of some […]
Vaca Muerta Production Impacted By Neuquén Protests
(Energy Analytics Institute, 20.Apr.2021) — Oil and gas production from Argentina’s prolific Vaca Muerta formation have been impacted by nearly two weeks of protests and road blockages by health care workers seeking higher wages. Oil production in the region is initially down around 5,000 barrels per day while gas production […]
LatAm Briefs: MEEI Minister’s Death, YPF Boosts Fuel Prices
(Energy Analytics Institute, 17.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: the passing of Trinidad and Tobago’s energy minister Franklin Khan, Argentina’s inflation reaching 4.8% in March and Argentina’s YPF boosting fuel prices an average 6%. Trinidad’s Energy Minister Franklin Khan Passes Away Franklin Khan, Trinidad […]
LatAm Briefs: New Pacific In Bolivia, Orvana’s 2Q:21 Production
(Energy Analytics Institute, 15.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: New Pacific acquiring the Carangas Silver Project, Bolivia and Orvana announcing second quarter production of 14,197 AuEq oz and exploration update. New Pacific Acquires the Carangas Silver Project, Bolivia (New Pacific Metals, 12.Apr.2021) — New […]
Argentina Prioritizing Oil Sector Legislation
(S&P Global, 15.Apr.2021) — Argentina’s government is making advances on drafting a bill to provide incentives for ramping up the country’s oil and natural gas production and exports, while more immediately seeking an agreement to end a protest stymieing activity in the Vaca Muerta shale play, Energy Secretary Dario Martinez […]
LatAm Briefs: Health Workers Protest In Argentina
(Energy Analytics Institute, 14.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina’s Labor Ministry issuing a mandatory conciliation between oil workers and companies, companies in Argentina prepare to pay more for gas starting 1 May 2021, and health and social workers protest in Neuquén. Argentina’s Labor […]
Pampa To Start Producing Vaca Muerta Oil
(S&P Global, 14.Apr.2021) — Pampa Energia, the fifth-biggest natural gas producer in Argentina, is taking its first steps to produce oil from the Vaca Muerta shale play while also stepping up gas output on a bet that a rise in domestic and export demand and prices will improve profits, Horacio […]
Pan American Commences Tender Offer
(Pan American, 12.Apr.2021) — Pan American Energy, S.L., Argentine Branch, a branch of Pan American Energy, S.L., a Spanish limited liability company (“Pan American”), commenced a tender offer for cash (the “Offer”) for any and all of its outstanding 7.875% Notes due 2021 (CUSIP: 69783TAA2 and 69783UAA9/ISIN US69783TAA25 and US69783UAA97) […]
Vaca Muerta Faces Production Decline
(S&P Global, 12.Apr.2021) — Argentina’s oil and natural gas output could begin to fall in the next few days if protesting health workers and truckers continue to block access to fields in Vaca Muerta, a shale play that has been driving growth, sources at two production companies there said April […]
LatAm Briefs: Mendoza Province Asset Grab, Ecuador Elections
(Energy Analytics Institute, 2.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: Mendoza taking back an area in the Neuquina Basin from a Medanito subsidiary and Ecuador eying second round presidential elections. Mendoza Province Takes Back Assets From Medanito Subsidiary Argentina’s Mendoza province on 12 March 2021 […]
Shell Updates On South American Assets In Annual Report
(Shell, 1.Apr.2021) — Shell provided details in its 2020 annual report related to its operations in South America from Argentina, Brazil and Bolivia. What follows is a summary from the report. South America Argentina We have more than 178 thousand net mineral acres in the Vaca Muerta Basin, a liquids- […]
LatAm Briefs: Point Lisas’ Slide, Añelo Petrol Station
(Energy Analytics Institute, 1.Apr.2021) — Energy briefs from the Latin America and Caribbean region including: halting the slide a Point Lisas in Trinidad and YPF inaugurating a new petrol station in Añelo in the heart of the Vaca Muerta formation. Point Lisas Slide Can Be Halted: Ramnarine “The slide of […]
LatAm Briefs: Argentine Wages Issues, Pereyra To Step Down
(Energy Analytics Institute, 31.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentine oil workers threaten to strike in Vaca Muerta over wages, and Argentine oil union head Guillermo Pereyra to finally step down. Oil Workers Threaten Strike In Vaca Muerta Over Wages Argentina’s oil union led […]
LatAm Briefs: Russia, Venezuela Boost Ties; YPF Meeting
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Russia and Venezuela strengthening their cooperation and Argentina’s state oil producer YPF eyeing shareholders’ meeting on 30 April 2021. Russia And Venezuela Strengthen Cooperation A Russian-Venezuelan high-level intergovernmental commission (CIAN by its Spanish acronym) signed […]
LatAm Briefs: Robots On Platforms, Oil Union vs. Shell Argentina
(Energy Analytics Institute, 30.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: the calculated oil industry wage savings from using robots on platforms instead of humans and a commission in Argentina that will likely decide a conflict between the country’s oil union and Shell. Oil Industry Savings […]
LatAm Briefs: Kircher On IMF, OCP President Resignation
(Energy Analytics Institute, 24.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina’s Cristina Kircher insisting the International Monetary Fund (IMF) give Argentina lower debt rates, the president of Caracas-based CAF resigning, and the president of Ecuador’s OCP resigning, among others. Kircher Insist IMF Give Argentina Lower […]
LatAm Briefs: Argentina And IMF, ANCAP 2020 Loss
(Energy Analytics Institute, 23.Mar.2021) — Energy briefs from the Latin America and Caribbean region including: the IMF contemplating lending $4.4bn to Argentina and Uruguay’s ANCAP reporting a $12mn loss in 2020. IMF Could Lend $4.4bn To Argentina The International Monetary Fund (IMF) could lend Argentina around $4.4bn, according to reports […]
Neuquén Province Boosts Output In February 2021
(Energy Analytics Institute, 22.Mar.2021) — Argentina’s Neuquén province produced 178,349 barrels per day of oil in February 2021, up 3.22% sequentially and up 6.91% compared to February 2020. Approximately 80% of the production in February came from the Vaca Muerta formation, Neuquén governor Omar Gutiérrez said 22 March 2021 in […]
Buenos Aires On Debt Restructuring
(The Province of Buenos Aires, 21.Mar.2021) — Since the announcement of its invitation to holders of certain eligible bonds as set forth in the invitation memorandum dated 24 April 2020 (as amended and supplemented from time to time, the “Invitation Memorandum”) to submit orders to exchange their eligible bonds for […]
LatAm Briefs: YPF Chubut CAPEX, Fracking In Colombia
(Energy Analytics Institute, 17.Mar.2021) — Energy briefs from the Latin America and Caribbean regions Argentina, Colombia and Uruguay including: YPF’s investment plans in Chubut, Argentina’s economic minister’s plans to visit with IMF officials in the US, ExxonMobil’s pilot fracking plans in Colombia, and ANCAP’s board naming a new general manager […]
YPF Increases Diesel, Gasoline Prices
(Argus, 16.Mar.2021) — YPF, the biggest oil producer in Argentina, said March 16 that it hiked diesel and gasoline pump prices by 7%, helping to finance a $2.7 billion investment plan to boost crude output. The state-backed company said the increase took effect at the start of the day, adding […]
Argentine President Targeted By Mob
(Bloomberg, 15.Mar.2021) — Argentine President Alberto Fernandez had to dodge protesters to get onto a minibus that was then pelted with stones as environmentalists battle a move to give mining the green light in Chubut. In the Patagonian province to check on efforts to extinguish forest fires, Fernandez was caught […]
LatAmNRG Briefs: YPF Fuels, Colombian Fracking
(Energy Analytics Institute, 15.Mar.2021) — Energy briefs from the Latin America and Caribbean regions Argentina, Colombia and Venezuela including: Tenaris snatches up Baker Hughes Argentina, YPF raises fuel prices again, Colombia’s ANH awaits offers for more pilot fracking projects and Venezuela suffers a severe diesel shortage. Tenaris Acquires Baker Hughes […]
Argentina Torn Between Shale Dream And Climate Goals
(Bloomberg, 10.Mar.2021) — President Alberto Fernandez took to a makeshift stage in Argentina’s Vaca Muerta shale deposit in October to announce the nation was doubling down on fossil fuels. “Today we are relaunching the oil and gas economy,” he declared, starting with $5 billion of government subsidies. Two months later, […]
YPF Comments On Rating Change By Fitch
(YPF, 19.Feb.2021) — In accordance with the requirements of the Argentine Securities Commission (CNV) Rules YPF informs that Fitch Ratings decided to raise the long-term issuer default rating of the company and the rating of the unsecured negotiable obligations (“Senior Unsecured Notes”) on an international scale, in each case from […]
Argentina’s Shale Ambitions Hang In Balance
(Bloomberg, 18.Feb.2021) — YPF SA, Argentina’s state-run oil company, needs to come up with more than $1 billion to spur drilling in Patagonia, where it’s leading development of the biggest shale patch outside the U.S. It’s not going to be easy. YPF restructured bonds last week to free up money […]
Fitch Downgrades YPF’s IDRs To ‘RD’
(Fitch Ratings, 18.Feb.2021) — Fitch Ratings has downgraded YPF S.A.‘s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) to ‘RD’ from ‘C’, due to the conclusion of its announced exchange offer. Fitch has simultaneously upgraded YPF’s Long-Term Local and Foreign Currency IDRs to ‘CCC’ from ‘RD’, and upgraded the […]
Statement From Bondholder Group On Argentina
(The Ad Hoc Group of Argentina Exchange Bondholders, 17.Feb.2021) — The Ad Hoc Group of Argentina Exchange Bondholders today released the below statement containing its views on the current economic situation in Argentina and its government’s policies: Argentina’s Backdrop Should be Positive. With a multi-decade restructuring of its external debt […]
YPF Reveals 4Q:20 Conference Call Date
(Energy Analytics Institute, 11.Feb.2021) — Argentina’s oil and gas giant YPF plans to announce results of operations for the fourth quarter 2020 and full year 2020 on 5 March 2021. ____________________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Golden’s Chairman Updates On Paraguay, Argentina
(Golden Arrow Resources Corp., 9.Feb.2021) — The New Year is underway, as President, CEO and Chairman of Golden Arrow Resources Corporation, I [Joseph Grosso] would like to share some comments and provide you with various links to Golden Arrow’s new website that provides additional information on the company’s current activity. […]
YPF Sweetens $6.2 Bln Debt Deal Again After Offer Fails
(Reuters, 8.Feb.2021) — Argentine state energy giant YPF made a last-ditch improvement to its $6.2 billion debt restructuring offer to creditors late on Sunday and extended the deadline after the majority of bondholders knocked back an earlier proposal. The firm, which spearheads development of the South American nation’s huge Vaca […]
YPF’s Fourth Amendment To Exchange Offers
(YPF, 7.Feb.2021) — YPF Sociedad Anónima announced its decision to amend the terms and conditions of its amended and restated Exchange Offer and Consent Solicitation Memorandum dated 25 January 2021, as amended on 1 February (the “Exchange Offer and Consent Solicitation Memorandum“). Capitalized terms used herein and not otherwise defined […]
Vaca Muerta Now Producing At Record Levels
(Rystad, 3.Feb.2021) — The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a […]
Letter Of Support For YPF Exchange Offer For 2021
(YPF, 2.Feb.2021) — On 7 January 2021, YPF S.A. launched exchange offers in respect of all seven series of its notes (collectively, the “Exchange Offer”). The Exchange Offer was a highly ambitious effort by the company to extract concessions from its international creditors. The Ad Hoc YPF Bondholder Committee represented […]
Argentina’s Escobar Terminal To Reopen
(S&P Global Platts, 1.Feb.2021) — A federal judge in Argentina has lifted a more than three-month suspension of the country’s only floating storage and regasification unit (FSRU) after the government warned of natural gas shortages if LNG imports were hindered. The FSRU, which is docked in Escobar, a district up […]
Argentine Finance Minister Seeks $44bn IMF Debt Deal
(Wall Street Journal, 30.Jan.2021) — With Argentina broke, Finance Minister Martín Guzmán is pushing for a deal by May with the International Monetary Fund to repay $44 billion in debt. To win the IMF’s acquiescence, he’ll narrow a yawning budget gap, he said in an interview on Friday. It is […]
Moody’s Assigns Caa3 Rating To YPF’s Proposed Notes
(Moody’s, 29.Jan.2021) — Moody’s Investors Service assigned a Caa3 rating to YPF Sociedad Anónima’s (YPF) proposed senior secured notes due 2026 and senior unsecured notes due 2029 and 2033. The outlook is stable. Net proceeds from the proposed issuance will be used for a tender offer to exchange a combined […]
YPF Bonds Rally After Sweetened Debt Offer
(Bloomberg, 26.Jan.2021) — Bonds of Argentine oil producer YPF SA climbed to a three-week high after the company improved a $6 billion restructuring offer. Stocks also jumped. YPF’s $540 million in securities due March 2025 rose almost 6 cents and shares rose as much as 9.3% after the state-controlled firm […]
YPF Amends Second Exchange Offers
(YPF, 25.Jan.2021) — YPF Sociedad Anónima (YPF) announced its decision to amend the terms and conditions of its Exchange Offers and Consent Solicitation initially described in its Exchange Offer and Consent Solicitation Memorandum dated 7 January 2021, as first amended on 14 January (the “Exchange Offer and Consent Solicitation Memorandum“). […]
Driller Stuns Creditors As Argentina’s Dollars Dwindle
(Bloomberg, 19.Jan.2021) — In the 99 years since it was founded to pump the oil fields of Patagonia, Argentine energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on […]
FMC Updates 4Q:20 Outlook, Highlights Brazil, Argentina
(FMC, 19.Jan.2021) — FMC Corporation it is reducing its fourth quarter 2020 outlook. The company is proceeding through its quarterly close, and based on preliminary results expects fourth quarter revenue of approximately $1.15bn as compared with prior guidance of $1.23bn to $1.29bn, and fourth quarter adjusted EBITDA in the range […]
Crown Point And Centaurus Enter Into Term Sheet
(Crown Point, 7.Jan.2021) — Crown Point Energy Inc., a Calgary-based oil and gas company with Argentine upstream conventional oil and gas assets, and Centaurus Energy Inc., an independent, Canadian company focused on Argentine upstream oil and gas conventional and unconventional operations, are pleased to announce that they have entered into […]
YPFB And IEASA Ink Fifth Gas Addendum
(Energy Analytics Institute, 1.Jan.2020) — Bolivia’s state oil and gas entity Yacimientos Petrolíferos Fiscales Boliviano (YPFB) and Argentina’s IEASA signed onto a fifth addendum to a natural gas purchase and sale agreement to guarantee continued bilateral energy trade between both countries in the new year. The volumes agreed under the […]
Argentina’s Plan Gas 4 To Provide Some Cash Flow Stability
(Ftich, 17.Dec.2020) — The contracts that the Argentine Ministry of Energy recently awarded to natural gas producers in the country under Plan Gas 4 (PG4) may bolster somewhat cash flow stability for players in the country and at the same time increase these companies’ credit linkage to that of the […]
YPF Updates On Plan Gas 4
(YPF, 16.Dec.2020) — In compliance with the provisions set forth in article 73 of Law 26,831, YPF S.A. hereby informs the Audit Committee report is available to the shareholders at the company’s headquarters located in Macacha Güemes 515, City of Buenos Aires, in which the Audit Committee issued its opinion […]