Vista Oil & Gas and Trafigura Argentina announced yesterday the signing of a $250 million joint investment agreement in Vaca Muerta to develop 20 wells in the Bajada del Palo Oeste block. This alliance allows us to strengthen our business in Argentina and integrate the supply of crude oil for our refinery and the subsequent collection of fuels for our network of service stations, wholesale customers and the export market in neighbouring countries.
Category: Industry
Information about Argentina’s economic sectors
June will close with foreign exchange earnings from agriculture of around $2.6 bn
June would close with foreign exchange earnings from the agro-export sector of around $2.6 billion, a figure down from May's record of more than $3.5 billion, but in line with the historical average.
Ford to close its financial businesses in Argentina and Brazil
Ford Motor Co said on Monday that its financial services arm, Ford Credit, will close its operations in Argentina and Brazil. Its losses include $365 million related to foreign currency and about $10 million in cash from employee layoffs.
MODO virtual wallet reaches 2 million users
Less than seven months after its launch, the bank wallet has already chosen by two million people joining the trend of leaving cash behind. In addition, more businesses are entering, and more functions and benefits added to the app on the way to transforming the daily use of money.
The SME industry grew 11% compared to April
The production of SME industries grew 11.1 per cent in May compared to April 2021, with the highest monthly variation rates in Non-metallic minerals (43.4%) and Footwear and leather goods (52.1%).
The government provided more than $1.05 billion in assistance and financing to SMEs
The government disbursed 2020 more than 100 billion pesos ($1.05 bn) in assistance and financing to SMEs. They represent 26 times more than the 3.8 billion pesos ($39.77 mn) earmarked for the sector in 2018 and far exceeds the 3.5 billion pesos ($36.63 mn) executed in 2019 i.e., it is an increase of 2,757%.
The Argentine firm Kheiron choose by the Gates Foundation to improve dairy production in Africa
The Argentine firm Kheiron choose by the Bill and Melinda Gates Foundation to develop bovine clones to help improve dairy production in Africa. Recombinetics' Acceligen was awarded a $3.7 million grant from the Gates Foundation to create gene-edited cattle high milk producers and withstand Africa's heat stress. Acceligen chose Kheiron as a partner for this project and started with the Holstein breed in the United States.
Technology company became the sixth Argentinean unicorn
Vercel, a firm in charge of facilitating the work of web designers through platforms that seek agility and aesthetics, raised $102 million, an investment in which prominent market players such as Bedrock Capital and Accel participated and reached a market value of $1.1 billion.
Soybean industrialization grew by 17.6%
In the first five months of the year, local soybean industrialization showed an increase of 17.6% year-on-year, thanks to the high prices of soybean by-products (meal, oil and pellets) in the international market. In May, crushing registered just over 4.29 million tons. In this context, the oil industry reduced its idle capacity and grew in value-added shipments abroad.
Globant invests in Chaco and creates 1,000 new jobs
Globant, a digitally native company that offers technology services, announced yesterday to the Minister of Productive Development, Matías Kulfas, the creation of 1,000 new jobs in Chaco in a period of 5 years and an investment of $8.38 million in the next two years, which includes the construction of a new office in the new Technological Park of the province.
