(Reuters, 14.Dec.2020) — Donald Trump was clear with Latin America during his four-year administration: don’t do business with China. The message failed to hit home. As President-elect Joe Biden readies to enter the White House on Jan. 20, Beijing has tightened its grip over vast swathes of the resource-rich region […]
Category: Argentina
Argentina energy
Argentine And Bolivian Energy Ministers Discuss Gas
(Energy Analytics Institute, 11.Dec.2020) — Bolivia’s Hydrocarbons and Energy Minister Franklin Molina Ortiz held a virtual meeting with Argentina’s Energy Secretariat Darío Martínez to discuss issues related to a common energy agenda between both countries. The aim of the discussion was to strengthen ties based on the economic reactivation of […]
Trenes Argentinos And IEASA Ink Renewable Deal
(Energy Analytics Institute, 9.Dec.2020) — Argentina’s Energy Secretariat Dario Martinez and the country’s Transport Minister Mario Meoni signed a collaboration deal to stimulate investments in electricity generation projects using renewable sources. The deal involves Trenes Argentinos and IEASA, Martinez announced 7 December 2020 in a post on Twitter. “We agree […]
Argentina Draws 16 Bids For Subsidized Gas Supply
(Argus, 3.Dec.2020) — Argentina received bids from 16 companies in a path-breaking auction to supply more than 70mn m3/d of natural gas at subsidized wellhead prices for power generation in 2021-24. The bids ranged from $2.40/mn Btu to $3.66/mn Btu, coming in below the maximum price of $3.70/mn Btu. Bids […]
YPF Acquires Own Shares
(Energy Analytics Institute, 20.Nov.2020) — Argentina’s state-controlled oil and gas entity YPF Sociedad Anónima (YPF) acquired its own shares in the market (articles 64 and related articles of the Capital Markets Law N°26.831) for the granting of share compensation plans. Between 13-20 November 2020 the Buenos Aires-based oil giant acquired: […]
Envision Commissions Wind Farm In Argentina
(Envision, 18.Nov.2020) — Envision Energy, a leading green tech company today announced the commissioning of Vientos Del Secano, a 50-megawatt wind farm in the Buenos Aires Province of Argentina. This is Envision’s second wind farm in Argentina, following last year’s successful completion of the 10-megawatt García del Río wind farm […]
Argentina Offers Profit Repatriation For Gas Investment
(Argus, 17.Nov.2020) — Argentina’s government is offering hard currency access to energy companies that sign up to a new program designed to stimulate natural gas production through state-subsidized wellhead prices. The incentive partially lifts Argentina’s crippling restrictions on repatriating profits, long considered a drag on investment. The new gas plan, […]
Pampa Energía Announces Quarterly Results
(Pampa Energía, 11.Nov.2020) — Pampa Energía S.A., the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the nine-month period and quarter ended on 30 September 2020. As from January 1, 2019, the company adopted US$ as […]
YPF Reports $482mn Net Loss In 3Q:20
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state-controlled YPF announced operating and financial results for the third quarter of 2020. What follows is a summary of key data. MAIN HIGHLIGHTS OF 3Q:20 — Revenues rose 19.5% sequentially on the back of a significant recovery in fuels´ sales and stabilization in oil […]
YPF Faces Mountain Of Debt Payments
(Energy Analytics Institute, 11.Nov.2020) — Argentina’s state owned oil and gas entity YPF will face around $8.05bn in debt payments between the fourth quarter of 2020 and 2026 and beyond. Despite the taunting payment schedule, YPF has made some strides, company executives said 11 November 2020 during the company’s presentation […]
Argentina And Chile Briefs: IMF Debt, Pension Reform
(Energy Analytics Institute, 11.Nov.2020) — Briefs on Argentina and Chile related to IMF officials in Argentina to renegotiate around $44bn in debt and tensions rise in Chile over pension reform. IMF In Argentina To Renegotiate $44bn In Debt (Energy Analytics Institute, 11.Nov.2020) — Officials with the International Monetary Fund (IMF) […]
YPF To Boost Output In The Rincón del Mangrullo Block
(Energy Analytics Institute, 9.Nov.2020) — Argentina’s YPF plans to drill 24 wells in the Rincón del Mangrullo Block at two unconventional developments between now and 2021. The developments on the block include tight gas in the Mulichinco formation and shale gas in the Vaca Muerta formation, YPF announced 9 November […]
Argentina’s Gas Output At 125.5 MMcm/d Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of natural gas averaged 125.5 million cubic meters per day (MMcm/d) or 4.43 billion cubic feet per day (Bcf/d) in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF […]
Argentina’s Oil Output At 483,453 B/D Thru August
(Energy Analytics Institute, 6.Nov.2020) — Argentina’s production of crude oil averaged 483,453 barrels per day in the eight months between January and August of 2020, according to data from the country’s Energy Secretariat. Argentina’s two biggest producers were YPF and Pan America Energy, which produced 46.4% and 21.7% respectively of […]
YPF Fuels Wins Top TierTM Certification
(Energy Analytics Institute, 3.Nov.2020) — Fuels produced by Argentina’s YPF again won the Top TierTM international certification, which is promoted by the ten most important automotive companies in the North American market. YPF was the first company in the region and the only one in Argentina to be part of […]
Seeds Energy Inaugurates Biogas Plant
(Energy Analytics Institute, 24.Oct.2020) — Seeds Energy Group remotely inaugurated its biogas plant located in Venado Tuerto, Santa Fe where it plans investments of $12mn. The plant will contribute 2 megawatts of clean electrical power to the city’s network and around 40,000 tons per year of biofertilizers from corn marl […]
Neuquén Targets 80 Rigs By March 2021: Gutiérrez Says
(Energy Analytics Institute, 22.Oct.2020) — Argentina’s Neuquén Province Governor Omar Gutiérrez said joint work by companies and workers will allow the region to achieve a growth path that will allow drilling activity to recover to the levels exhibited before the pandemic. The official said approximately 80 rigs are projected to […]
Compañia Argentina de Comodoro Buys NGX’s Interests In Argentina
(NGX Energy, 20.Oct.2020) — NGX Energy International Corp. (formerly CruzSur Energy Corp.) accepted an offer from Compañia Argentina de Comodoro Rivadavia Explotacion de Petróleo S.A. and Financier S.A. (the “Purchaser”) to acquire 100% of NGX’s oil and gas interests in Alianza Petrolera Argentina S.A., the Argentine subsidiary through which NGX […]
Exmar Inks $150mn Agreement With YPF
(Energy Analytics Institute, 19.Oct.2020) — Belgium-based Exmar reached a $150mn settlement with Argentina’s state-controlled YPF SA related to a dispute under the Tango FLNG agreements. In the deal, YPF will pay the settlement to Exmar for consideration of the early termination of the Tango FLNG agreements, as announced on 25 […]
Córdoba Eyes Higher Biofuel Demand, Exports To Brazil
(Energy Analytics Institute, 12.Oct.2020) — The Córdoba province government of Juan Schiaretti continues to advance varied measures that seek to benefit the region’s biofuels sector. Schiaretti’s government is promoting a bill proposing use of biofuels in the public transport of passengers, cargo as well in vehicle fleets of provincial government, […]
YPF Releases Audit Committee Report
(Energy Analytics Institute, 7.Oct.2020) — Pursuant to the regulations of the National Securities Commission or the Comisión Nacional de Valores and the terms of Article 73 of Law No. 26,831, Argentina’s state oil company YPF SA released its audit committee report, which is available to shareholders at the registered office […]
Eleven Rigs Reactivated In The Vaca Muerta In Neuquén
(Energy Analytics Institute, 3.Oct.2020) — Argentina’s Neuquén Ministry of Energy data reveal 11 drilling rigs have been reactivated in the province, and all targeting the Vaca Muerta formation. Of the 11: three were recently incorporated by YPF, two by Shell, which was the first company to return, two by Pan […]
YPF And Oil Unions Agree To 16.2% Salary Rise
Oil unions in Argentina reached an agreement with state oil and gas entity YPF 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.
Heard On The Street: Argentina’s Gas Dilemma
(Energy Analytics Institute, 30.Sep.2020) — If Argentina is unable to boost its natural gas production, piped gas imports from Bolivia as well as liquefied natural gas (LNG) imports injected from Escobar may not be sufficient to cover demand in the domestic market. As such, Argentina could be forced to opt […]
Argentine Gas Imports Were 42.2 MMcm/d In July 2020
(Energy Analytics Institute, 26.Sep.2020) — Argentina’s imports of natural gas from liquefied natural gas (LNG) and piped gas from Bolivia reached 42.2 million cubic meters per day (MMcm/d) in July 2020, online newspaper Río Negro reported on 26 September 2020. __________ By Aaron Simonsky. © Energy Analytics Institute (EAI). All […]
YPF Prepares For Fuel Updates Between Oct.-Dec.
(Energy Analytics Institute, 25.Sep.2020) — YPF, the largest company in Argentina, will increase its fuel prices between now and year end. Two or three price increments are planned, at the rate of one per month, between October and December. The first adjustment could be on 1 October, online newspaper La […]
Investors Pull Plug On Argentina’s Prized Shale Play
(Oilprice.com, 19.Sep.2020) — Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, which saw oil prices plunge to nearly $40 dollars below zero in a jaw-dropping first, a flurry […]
The Threat Of Oil Nationalism In Argentina
(Oilprice.com, 6.Sep.2020) — Latin America has a long history of resource nationalism, particularly when it comes to petroleum. Since the end of World War Two, this has acted as a significant deterrent for international energy majors seeking to invest in the region’s vast hydrocarbon potential. This is being amplified by […]
YPF To Restart Shale Drilling In Argentina
(Argus, 4.Sep.2020) — Argentina’s state-controlled YPF will resume drilling activity in the country’s Vaca Muerta shale formation after an almost six-month pause resulting from pandemic restrictions. YPF will begin operating two drilling rigs in Vaca Muerta over the next two weeks, chief executive Sergio Affronti said today. The rigs will […]
Argentina Puts Priority On Boosting Oil, Gas Exports
(S&P Global Platts, 28.Aug.2020) — Argentina’s new energy secretary Dario Martinez plans to promote oil and natural gas production with a view to increasing exports as part of a strategy to pull the economy out of one of its worst crises on record, he said Aug. 27. Martinez, who took […]
Argentina’s Shale Province Predicts Slow Recovery
(Argus, 25.Aug.2020) — Argentina’s Vaca Muerta shale patch will take 12-18 months to resume pre-Covid-19 activity because of lagging demand, according to Alejandro Monteiro, energy minister of Neuquen province. “We believe it will take a while for fuel demand to fully recover,” Monteiro said in an industry webinar yesterday. Many […]
Exxon Gets Concession For Los Toldos II Oeste Oil Block
(Zacks Equity Research, 19.Aug.2020) — Exxon Mobil Corporation was recently granted concession by the Neuquen provincial government for exploratory activities in another block, Los Toldos II Oeste, in the prolific Vaca Muerta shale play in Argentina, as said by the government of Neuquen. The 35-year concession has called for a […]
Traders Are Already Betting On Argentina’s Next Default
(Bloomberg, 18.Aug.2020) — In the next few weeks, if all goes as scripted, Argentine officials will put the finishing touches on a bond restructuring deal and bring an end to the ninth default in the country’s history. Bond traders are already bracing for the 10th. They’re refusing to bid up […]
Oil Cos. Wonder If It’s Worth Looking For Oil Anymore
(Bloomberg, 16.Aug.2020) — A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil industry as companies scoured the planet for resources. Yet a decade after the discovery of as much […]
YPF Comments On Refinería del Norte SA
The report includes an opinion relating to provision agreements for transportation, storage and dispatch services by multi-pipeline and fuel transportation services with Refinería del Norte SA, YPF Market Relations Officer Santiago Wesenack said.
ExxonMobil Secures Another LT Vaca Muerta Concession
(Argus, 14.Aug.2020) — ExxonMobil has been awarded a 35-year concession for another block in Vaca Muerta, a massive shale play that has been driving the company’s growth in oil and natural gas production in Argentina. The government of Neuquen, a southwestern province where most of the play is located, said […]
Pampa Energía’s Financial Results Thru 30 June 2020
(Pampa, 11.Aug.2020) — Pampa Energía S.A., the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the six-month period and quarter ended on June 30, 2020. As from January 1, 2019, the Company adopted US$ as functional […]
Shell Argentina CEO Sean Rooney’s EconoJournal Q&A
(Energy Analytics Institute, 4.Aug.2020) — Shell Argentina President Sean Rooney discussed his company’s operations in Argentina amid the Covid-19 pandemic, including commenting on continued and future development of the Vaca Muerta shale formation. “A lot of economic recuperation post-Covid will come from industry pressures to accelerate the change of energy […]
IMF’s Head Congratulates Argentina On Debt Deal
(Energy Analytics Institute, 4.Aug.2020) — International Monetary Fund Managing Director Kristalina Georgieva sent out a congratulations to President Alberto Fernandez, Minister Martin Guzman and Argentina’s main creditor groups on reaching an agreement in principle on the country’s debt. “A very significant step. Look forward to a successful conclusion in the […]
Ad Hoc Argentine Bond Group On Debt Deal
(White & Case, 4.Aug.2020) — “We are pleased to have reached an agreement in principle with Argentina for a proposal that will provide the country with the necessary economic relief and sustainable path it needs in the wake of COVID-19, as well as renewed access to the international capital markets […]
BA Province Extends Invitation Memorandum
(The Province of Buenos Aires, 3.Aug.2020) — The Province of Buenos Aires announced that it has further extended the expiration of its invitation made to holders of certain eligible bonds listed in the Invitation Memorandum dated 24 April 2020 (as amended and supplemented from time to time, the “Invitation Memorandum”) […]
YPF Announces Expiration Of Offer For Senior Notes
(YPF, 31.Jul.2020) — YPF S.A. announced today the results as of the Expiration Date (as defined below) with respect to its previously announced exchange offer to exchange any and all of its outstanding US$1,000,000,000 8.500% Senior Notes due 2021 (the “Old Notes“) for the applicable amount of 8.500% Senior Amortizing […]
Argentine Court Rejects Ecuadorian Judgment Against Chevron
(Chevron, 31.Jul.2020) — Argentina’s highest court unanimously rejected the plaintiffs’ final bid to enforce a fraudulent $9.5 billion Ecuadorian judgment against Chevron Corporation. This is the latest in a string of legal victories in Chevron’s global defense against the Ecuadorian judgment—found by U.S. courts to be the product of fraud, […]
IMF Press Briefing On Nigeria, Argentina
(IMF, 23.Jul.2020) — Transcript of International Monetary Fund (IMF) press briefing on Nigeria, Argentina, and other countries. MR. RICE: Good morning everyone and welcome to this press briefing on behalf of the International Monetary Fund. I’m Gerry Rice of the Communications Department. And as usual this morning, our briefing will […]
Fernandez To Creditors: ‘We Can’t Do Any More’
(FT.com, 19.Jul.2020) —Alberto Fernández, Argentina’s president, has made an impassioned appeal for the world to accept that — with an economy devastated by coronavirus — he cannot budge from his final offer to restructure $65bn of foreign debt. Weighed down by $323bn of borrowing, Argentina was already in a deep […]
YPF Reports Early Exchange Offer Participation
(YPF, 17.Jul.2020) — YPF S.A. announced results of the Early Participation Date (as defined below) with respect to its previously announced exchange offer to exchange any and all of its outstanding $1,000,000,000 8.500% Senior Notes due 2021 (the “Old Notes”) for the applicable amount of 8.500% Senior Amortizing Notes due […]
Argentina Axes $2bn Vaca Muerta Gas Pipeline
(Energy Analytics Institute, 15.Jul.2020) — The Vaca Muerta gas pipeline, one of the most ambitious projects of the government of Argentina’s former President Mauricio Macri, was suspended indefinitely by Energy Secretariat Sergio Lanziani, according to details published by local media outlet Clarín. Work on the pipeline would have seen it […]
Argentina’s YPF Announces Exchange Offering
(YPF, 13.Jul.2020) — Argentina’s state oil company YPF Sociedad Anónima announced 13 July 2020 changes to a debt exchange offering. The offering consists of the following: (i) Class XIII 8.500% fixed rate US Dollar denominated negotiable obligations redeemable with maturity in 2025 in an aggregate nominal amount of up to […]
Will Argentina’s Oil Industry Survive This Crisis?
(Oilprice.com, 6.Jul.2020) — Throughout the 2010s Argentina’s shale deposits were universally listed alongside the US shale gale, denoting the many similarities Vaca Muerta shares with Eagle Ford in particular and Texas’ shale deposits in general. Providing another layer to the juxtaposition, Argentina’s shale-rich Neuquen Province has historically been the main […]
YPF’s Exchange Offer For $1bn 8.5% Senior Notes
(YPF, 2.Jul.2020) — YPF Sociedad Anónima commenced an exchange offer for any and all of its outstanding US$1,000,000,000 aggregate principal amount of 8.500% Senior Notes due 2021 (the “Old Notes“) (144A CUSIP / ISIN Nos. 984245 AM2 / US984245AM20 and Reg S CUSIP / ISIN P989MJ BG5 / USP989MJBG51) for […]