(Energy Analytics Institute, Jared Yamin, 23.May.2016) – A group of Argentina businessmen plan to buy the assets of Petrolera del Cono Sur, a subsidiary of PDVSA in Argentina. The assets include 95 service stations as well as storage tanks in the Dock Sud, reported the daily newspaper La NaciĂłn. The […]
Category: Argentina
Argentina energy
Enarsa to Import Gas From Chile
(Energy Analytics Institute, Jared Yamin, 23.May.2016) – Argentina’s state oil company Enarsa signed a contract to purchase natural gas from Chile at a price 53 percent higher than the LNG that arrives to Chile on tankers and 128 percent higher than what is pays for imports from Bolivia, reported the […]
Bolivia Exported 24 MMcm/d to Brazil
(Energy Analytics Institute, Jared Yamin, 19.May.2016) – Bolivian exports to Brazil reached 24 million cubic meters per day on May 12, 2016 compared to 30 million cubic meters per day on May 8, 2016 while exports to Argentina reached 19 million cubic meters per day, up compared to 14 million […]
Chile Started Gas Exports to Argentina
(Energy Analytics Institute, 18.May.2016) — Chile shipped its first molecules of natural gas to Argentina on 17 May 2016, owing to an agreement between both governments and the French-Belgian company Engie. The first shipment left from Mejillones, Chile’s energy ministry announced 18 May 2016 in an official statement. Chile expects […]
Approval of Sale of Petrobras Argentina
(Petrobras, 13.May.2016) – Petrobras announced that its Board of Directors approved the sale of its entire 67.19 percent interest in Petrobras Argentina (PESA), owned by Petrobras Participaciones S.L. (PPSL), to Pampa EnergĂa. The transaction base price is $892 million, equivalent to the value of $1,327 million for 100 percent of […]
Argentina Interested in Buying Excess Gas from Punta De Sayago
(Energy Analytics Institute, Aaron Simonsky, 11.May.2016) – The government of Uruguay continues to move forward with agreements to secure markets for natural gas to come from its proposed regasification plant in Punta de Sayago. Uruguay’s President TabarĂ© Vázquez and Industry, Energy and Mining Minister Carolina Cosse, signed a decree that […]
Petrobras Reports on Negotiations for Sale of Petrobras Argentina
(Petrobras, 8.May.2016) – Petrobras, regarding the sale of its stake in Petrobras Argentina, as disclosed in the Material Fact on February 3, 2016, would like to announce that negotiations with Pampa Energia are ongoing, extending the period of exclusivity for another 30 days to complete negotiations. Petrobras reiterates that this […]
YPF Announces Plans for 20 Areas in RĂo Negro, Chubut
(Energy Analytics Institute, Jared Yamin, 7.May.2016) – YPF plans to divest of as many as 20 areas in Argentina where the company has a partial interest or where the areas do not offer important earnings. YPF has put up on the market 6 areas in RĂo Negro, including some with […]
Argentina to Pay Galuccio $72 Mln Pesos to Leave YPF
(Energy Analytics Institute, Jared Yamin, 5.May.2016) – The government of President Mauricio Macri will pay 72 million Argentine pesos to Miguel Galuccio as part of an offer to the executive to depart the company. Board of Director members with YPF, controlled 51 percent by the government, came to agreement at […]
Moody’s Upgrades Argentine Corporate Issuers
(Moody’s, 21.Apr.2016) – Moody’s Investors Service upgraded ratings of several companies with operations in Argentina, with the outlook changed to stable from positive. The rating actions on the companies’ global scale ratings follow Moody’s upgrade on April 15, 2016 of Argentina’s government bond rating to B3 from Caa1, with the […]
Battery-hungry World Turns to South America’s ‘Lithium Triangle’
(Reuters, 15.Mar.2016) — Far from the soy and cattle that dominate its vast fertile pampas, Argentina harbors another valuable commodity that is rocketing in price and demand and luring newly welcomed foreign investors. Lithium, the so-called “white petroleum”, drives much of the modern world. It forms a small but essentially […]
Moody’s Withdraws Pan America Rating
(Moody’s Investor Service, 9.Sep.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo has withdrawn the Aa1.ar National Local Currency rating for the Senior Unsecured Bank Credit Facility of Pan American Energy LLC, Argentine Branch (PAE) for business reasons. However, the B2 Global Scale Rating remains unchanged. Pan American Energy […]
Elevated Corporate Risks in Argentina
(Moody’s Investor Service, 16.Jul.2015) – Economic stagnation, a difficult political environment and heightened volatility in financial markets with the approach of presidential elections will be elevating pressures on non-financial companies in Argentina through mid-2016, says Moody’s Investors Service. Most of the 20 companies that Moody’s rates in Argentina, however, will […]
Moody’s Covenant on YPF Bond Offering
(Moody’s, 20.May.2015) – Moody’s Investors Service assigned an overall covenant quality score of 3.37 to YPF Sociedad AnĂłnima’s $1,500 million 8.500% Senior Notes due 2025. ***
Moody’s Confirms Petrobras Argentina Notes
(Moody’s, 28.Apr.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo confirmed the Ba2/Aaa.ar global scale rating and national scale rating on Petrobras Argentina S.A.’s (Petrobras Argentina) $300 million in guaranteed Series S notes (CUSIP 71646JAB5). The rating action reflects Moody’s Investors Service’s rating action on 27.Apr.2015 of confirming Petrobras’ […]
Baker Hughes Announces 1Q:15 LatAm Results
(Baker Hughes Incorporated, 21.Apr.2015) – Baker Hughes Incorporated announced results for the first quarter of 2015. Latin America revenue was $493 million for the 1Q:15, down $37 million, or 7%, compared to the 1Q:14. The drop in revenue can be attributed to activity declines in the Andean area, as reflected […]
Petrobras Reports Sale of Assets in Argentina
(Petrobras, 31.Mar.2015) – The Board of Directors of Petrobras Argentina (PESA) approved the sale of all of its assets in the Austral Basin (province of Santa Cruz) to Compañia General de Combustibles S.A. (CGC) for $101 million. PESA assets involved in the deal include 26 onshore exploration and production concessions, […]
Moody’s Rates YPF’s Proposed Global Notes
(Global Credit Research, 4.Feb.2015) – Moody’s Investors Service assigned a Caa1 global foreign currency rating to YPF Sociedad Anonima’s (YPF)’s proposed $750 million in aggregate in addons to its outstanding 8.875% $587 million notes due in 2018 and 8.750% $1,000 million notes due in 2024. Both series were issued in […]
Apco Completes $470 Mln Merger
(Apco Oil and Gas International Inc., 29.Jan.2015) – Apco Oil and Gas International Inc. completed its merger with Pluspetrol Black River Corporation, a wholly-owned subsidiary of Pluspetrol Resources Corporation, in an all-cash transaction with an equity value of approximately $427 million. In connection with the transaction, Apco will be delisted […]
WPX Completes Exit of International Interests
(WPX Energy Inc., 29.Jan.2015) – WPX Energy completed the disposition of its international interests upon the successful merger of Apco Oil and Gas International (APAGF) with a subsidiary of privately held Pluspetrol Resources Corporation. WPX is receiving approximately $294 million. “We continue to execute, strengthen our financial position and implement […]
Apco Shareholder’s Approve Pluspetrol Merger
(Apco Oil and Gas International Inc., 26.Jan.2015) – Apco Oil and Gas International Inc. announced that its shareholders, at an extraordinary general meeting held on January 26, 2015, approved the proposal to adopt the previously announced merger agreement, dated October 2, 2014, pursuant to which Pluspetrol Resources Corporation will acquire […]
Apco Obtains Concession Extension in Argentina
(Apco Oil and Gas International Inc., 6.Jan.2015) – Apco Oil and Gas International Inc. announced that the Argentine province of Rio Negro has agreed to extend the concession term for the company’s operation in the Entre Lomas concession for 10 years. The Entre Lomas concession is extended to Jan. 21, […]
Chevron, YPF Continue Vaca Muerta Development
(Chevron 10.Apr.2014) — Chevron Corporation confirmed that subsidiaries of the company have signed agreements with the Argentine oil company YPF S.A. to continue development of shale oil and gas resources from the Vaca Muerta formation located in the NeuquĂ©n province in Argentina. “This is a significant step in our subsidiaries’ […]
Non-Conventional Extraction Process Explained [Video]
(Energy Analytics Institute, Ian Silverman, 16.Jan.2014) – Argentina’s Vaca Muerta formation in the Neuquén Basin is best known for its shale oil and gas. The process related to the extraction of non-conventional hydrocarbons, or in this case, shale deposits, is explained in this short video in Spanish from YPF. ***
LatAmNRG: Heard On The Street 3Q:13
(Energy Analytics Institute, 30.Sep.2013) – Information in this section, provided by Energy Analytics Institute editors and reporters, is hearsay and thus should be treated as such. The names of our many sources have been withheld to protect their identities and family members in Venezuela. COMBUSTIBLES A number of gasoline stations […]
Argentina Says Oil Output Insufficient
(Energy Analytics Institute, Jared Yamin, 13.Sep.2013) – The Argentine government announced production of oil is insufficient to supply the country’s refineries. “We are lacking light oil to process,” reported La Nacion, citing YPF Manager Miguel Galuccio. ***