Astra Evangelista is accused of unfair competition and owes YPF $101.45 mn

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).

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 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.