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(Reuters) - Argentina has secured financing of $689 million from Brazilian state development bank BNDES for the second stage of a crucial natural gas pipeline in the huge Vaca Muerta shale region, energy secretary Flavia Royon said on Monday. The pipeline, which will hugely increase the country's gas transport capacity, will help Argentina "to achieve... Continue Reading →
(Reuters) - Argentina on Monday reached an agreement with major oil firms operating in the country to put a cap on fuel price increases in a bid to keep costs at the pump down for hard-hit consumers amid surging inflation. The deal with firms like state company YPF (YPFD.BA) and Shell (SHEL.L) would see fuel price increases of 4%... Continue Reading →
(Reuters) - Argentina's Economy minister Sergio Massa said on Thursday that the government was readying a liquefied natural gas (LNG) bill to send to Congress in the coming months, amid a push to create a major gas export sector in the country. The bill aims to spur the multi-billion-dollar investments needed to exploit Argentina's massive... Continue Reading →
(Reuters) - Argentina's rising central bank debt poses a risk to the country's monetary stability, ratings agency Moody's said on Wednesday, adding it could further stoke inflation and aggravate any exchange rate shock if savers flee from the local peso currency. In that scenario, Moody's warned, authorities could even freeze peso deposits, an extreme measure... Continue Reading →
(TN) Eneva, an integrated energy company, which operates from the exploration and production (E&P) of natural gas to the supply of customized solutions, closed the third quarter of 2022 with a net profit of R$ 237 million, 61.4% higher than that recorded in the second quarter of this year. Adjusted EBITDA, of R$598 million, represented... Continue Reading →
(Reuters) - Pampa Energía (PAMP.BA), the third largest gas producer in Argentina's Neuquén basin, will invest $550 million in 2023 to increase its unconventional production from the huge Vaca Muerta shale formation, the firm's president Marcelo Mindlin said. Vaca Muerta, the world's second largest shale gas reserve and fourth for shale oil, is crucial for Argentina... Continue Reading →
(Reuters) Oil and gas producer Wintershall Dea said on Tuesday that its most closely watched measure of earnings more than doubled in the third quarter of 2022 and that it would seek to strengthen business in locations outside Russia. Wintershall Dea was looking into whether the international business it is pursuing could be legally separated... Continue Reading →
(Reuters) - Brazil's economy is undergoing a soft landing as consumers tighten their purse strings to cope with high indebtedness on post-pandemic purchases and increasing financial costs, a Reuters poll of economists showed. Economic activity got a boost this year from President Jair Bolsonaro's extra public spending measures aimed at improving his reelection chances before... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of 100% of its stake in Petrobras Operaciones S.A. (POSA), Petrobras' wholly owned subsidiary in Argentina, which holds a 33.6% stake in the Rio Neuquén Field. The teaser, which contains the key information about the opportunity, as... Continue Reading →
(Reuters) - Argentine state-owned energy firm YPF (<YPFD.BA>) has seen its bonds and shares take off this year, despite a wider economic malaise, with hope of a shale boom in the South American nation's huge Vaca Muerta formation luring investors. The state firm's bonds have risen between 5-11% this year, even as some sovereign debt has plummeted... Continue Reading →
Brazil Energy Insight 