The Federation of Chambers of the Energy Sector of the Province of Neuquén (Fecene) made the complaint pointing to a company 99% controlled by YPF, called Astra Evangelista (AESA). AESA focused on four pillars: integral construction of works, manufacturing of equipment and process modules, engineering and provision of services in the oil and gas areas. The firm closed contracts below the reference values or minimum floors required to carry out the activity. In 9 months, the company's negative equity grew more than 400%, and as of September 30, the loans granted by YPF to the firm amounted to 8.7 billion pesos ($101.45 mn).
Category: Business
Information regarding the business sector.
YPF and Equinor partner with Shell for offshore exploration
YPF and Equinor agreed on Shell's entry as a third partner of the offshore block CAN100, located in the Northern Basin of the Argentine Sea. After this operation, Equinor (operator of the area) and YPF will divide 70% of the block into equal parts, and Shell will enter with the remaining 30%. The block locates in water more than 1,500 metres deep that has never been explored or drilled in the country before.
BBVA issues the first green bond of Petroquímica Comodoro Rivadavia for $50 mn
BBVA issued the first green bond of Petroquímica Comodoro Rivadavia (PCR) for a total issue of $50 mn. The project is qualified as "green" for contributing to ODS 7 (Affordable and Non-Polluting Energy) and ODS 13 (Climate Action). The qualification based on funds linked to renewable energy projects for implementing the San Jorge and El Mataco wind farm, related to the renewable energy sector, with clear environmental benefits.
YPF added 3,747m3/d to its hydrocarbon production at Manantiales Behr
The Manantiales Behr field, operated by YPF in the province of Chubut, reached a production record by adding 3,747 cubic meters per day (m3/d) in December, the highest volume in 90 years of activity.
YPF: creditors qualify as hostile the offer to restructure the $6.6 bn debt
The YPF Ad Hoc Committee of Bond Holders rejected the oil company's $6.6 billion dollar-denominated debt swap offer launched last week. In a letter, they said that the signal sent was negative and willing to negotiate and talk.
YPF refinances its $6.2bn debt
YPF will move forward with the refinancing of some $6.2 billion, to generate the conditions to promote an investment plan to reverse the negative trend in oil and gas production.
Oil company Vista Oil increased by 20% hydrocarbon production in Argentina
The oil company Vista Oil announced that the average production of conventional and non-conventional hydrocarbons in Argentina increased by 20% in the fourth quarter of 2020, compared to the third quarter, indicating a recovery in a year hit by the fall in demand for fuel due to the COVID-19 pandemic.
Argentina’s Ripio acquires second-largest crypto exchange in Brazil
Argentina’s Ripio has acquired BitcoinTrade, the second-largest crypto exchange in Brazil, in a bid to increase its footprint across the frothy Latin American crypto market. Ripio (formerly called BitPagos) ended 2020 on a high, crossing the 1 million user milestone.
YPF raised its fuel prices by 2.9%
The oil company YPF reported that from the early hours of the morning, the biofuel component in naphtha and diesel would be adjusted by 2.9% in the whole country. It is a consequence of the increase in ethanol as mandated by the regulatory authority.
YPF seeks $400 million in financing and puts “Torre Pelli” up for sale
The state oil company YPF will put its Tower up for sale, a real flagship of Puerto Madero and the company's headquarters since 2008. The decision is part of the oil company's strategy to concentrate its resources in the core of the business, that is, the production of energy. A quick calculation for this operation could yield a figure close to $ 400 million. It seeks to mitigate with additional income a challenging period for the company, which recorded losses of $1.64 billion in the third quarter.
