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Tag: YPF

YPF nationalisation: a not so happy 1st anniversary

Apr 9, 2013 7:45pm by Jude Webber
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YPF, Argentina’s nationalised energy company, will import at least 50 per cent more fuel for the foreseeable future after a freak storm last week caused fire and flood damage at its La Plata refinery that sent its share price falling by more than 3 per cent during trading on Monday. Continue reading »

Tags: , Posted in Argentina, LatAm |

Repsol-YPF: burying the hatchet?

Mar 4, 2013 9:17pm by Jude Webber
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Less than a year after Argentina seized control of YPF, could the state-controlled oil company be close to a deal with its former parent, Repsol of Spain, to develop rich shale resources in Argentina?

Such is the spin, it’s hard to know how to take this. No one has actually seen a copy of the deal which one source close to the negotiations claims has been sitting ready to be signed for more than a week. Continue reading »

Tags: , , Posted in Argentina, LatAm |

Argentina’s YPF: Christmas shopping?

Dec 14, 2012 6:01pm by Jude Webber
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Shares in YPF, the nationalised Argentine oil and gas company, surged by more than 7 per cent in New York and by nearly 9 per cent in Buenos Aires on Friday morning, before backtracking a bit, after La Nación newspaper reported that Brazil’s Petrobras was selling out of Argentina and YPF could be the buyer. Continue reading »

Tags: , , Posted in Argentina, Global, LatAm |

YPF bond targets retail investors

Dec 11, 2012 7:26pm by Jude Webber
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Looking for a new way to save? Nationalised energy company YPF wants to sell Argentines more than petrol and diesel. Now it wants to sell them bonds, too.

The company, seized from Spain’s Repsol in April, has been tapping the local capital market heavily in recent months. The new peso bond will be the first to specifically target small, retail investors. (In past issues, YPF has targeted institutional investors in pesos or in bonds issued in pesos but linked to the dollar.) Continue reading »

Tags: , , Posted in Argentina, LatAm |

YPF gets a little help from China [updated]

Dec 6, 2012 7:41pm by Jude Webber
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Whenever the subject of partners for Argentina’s YPF to develop the Vaca Muerta shale deposits crops up, it isn’t long before someone suggests China as a potential investor.

So Carlos Bulgheroni’s admission that the Bridas group, in which his family and China’s CNOOC each own 50 per cent stakes, is planning to invest Vaca Muerta with YPF will have a lot of people sitting up. Continue reading »

Tags: , , , , , Posted in Argentina, Asia, China, LatAm |

Repsol sues Chevron over YPF deal

Dec 5, 2012 8:15pm by Jude Webber
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gavelJust when New York Judge Thomas Griesa must have been relaxing at having got Argentina’s holdout saga out of his court, another suit involving the country goes and plops into his in-tray.

This case this time? Repsol v. Chevron. The Spanish oil company followed up on its threat to sue any companies that sought to join forces with its expropriated former unit, YPF, to develop shale assets, and filed a complaint against the US major. Continue reading »

Tags: , , , Posted in Argentina, LatAm |

YPF results: to buy or not to buy?

Nov 7, 2012 7:00pm by Jude Webber
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YPF’s shares have lost so much ground this year – a plunge of 74 per cent in New York and 61 per cent in Buenos Aires since a high in January. So are today’s third-quarter results the time to buy? Continue reading »

Tags: , , Posted in Argentina, LatAm |

YPF: fundraising just got harder

Oct 31, 2012 8:58pm by Jude Webber
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A US appeals court ruling that Argentina must treat its defaulted and performing debt equally not only leaves it staring at the unappealing prospects of default or paying the “vultures” it has vowed to scorn forever. It also risks scuppering nationalised oil company YPF’s ability to raise funds internationally.

That, at least, is the view of some financial experts in Buenos Aires. Continue reading »

Tags: , Posted in Argentina, LatAm |

8 things Argentina must do to win over energy investors

Sep 21, 2012 9:14pm by Jude Webber
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Oh to be a fly on the wall of the rounds of meetings between Miguel Galuccio (pictured), chief executive of nationalised Argentine energy group YPF with US and UK investors starting in Los Angeles on Friday.

There’s no doubt that Galuccio is an experienced oilman and knows his subject. But it’s safe to imagine that investors will subject him to a barrage of questions that probably boil down to this: how much leverage will he have with the government of Cristina Fernández to guarantee investors the incentives needed to bring foreign cash flowing into YPF? Continue reading »

Tags: , , , , Posted in Argentina, LatAm |

YPF: fundraising time

Sep 14, 2012 10:28pm by Jude Webber
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Drumming up the dollars for YPF’s $37.2bn five-year production-boosting plan was always going to be tough. Now, news that Repsol’s lawyers are working on a lawsuit against Chevron after the US major inked a partnership plan with YPF, surely makes that task even more Herculean.

But judging by a call by Miguel Galuccio, YPF’s CEO, with analysts last month, the market is less concerned by potential lawsuits than by the future regulatory environment in Argentina. Continue reading »

Tags: , , , , Posted in Argentina, LatAm |

YPF: of bonds and shale gas

Sep 11, 2012 10:45pm by Jude Webber
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Argentina’s nationalised energy company, YPF, faces its first hurdle in the eyes of domestic investors on Tuesday with the issue of three debt tranches designed to raise at least 1.35 billion pesos ($290m).

The paper has 9-, 18- and 36-month maturities but the bulk of the offer, 1.2bn pesos, is in three-year bonds with a variable interest rate. That offer can be increased to 1.5bn, depending on demand. Continue reading »

Tags: , , , , Posted in Argentina, LatAm |

YPF turns to Gazprom for gas [updated with YPF statement]

Sep 4, 2012 5:32pm by Jude Webber
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“Da.” That probably sums up the strategy of Miguel Galuccio, CEO of YPF, the nationalised Argentine oil company, who is in Moscow negotiating a liquefied natural gas deal with Russia’s Gazprom.

Argentina’s Cristina Kirchner and Vladimir Putin of Russia discussed the possibility of bilateral energy deals at the G20 summit in Mexico in June. Now Galuccio (pictured) and Alexei Miller, CEO of Russia’s top gas producer, are hammering out the fine print. Continue reading »

Tags: , , Posted in Argentina, Europe, LatAm, Russia |

YPF: $37.2bn investment? No problem

Aug 30, 2012 8:38pm by Ian Mount
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Well, you can’t fault YPF for lack of ambition.

On Thursday, Miguel Galuccio (pictured), the CEO of Argentina’s recently nationalised YPF oil company, laid out a hard-charging five-year plan to increase production and return Argentina to its former glory as a net petroleum exporter. Continue reading »

Tags: , , Posted in Argentina, LatAm |

Who’s afraid of doing business with YPF? Not Chevron

Aug 24, 2012 12:33am by Jude Webber
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Could Chevron be the one? YPF, Argentina’s nationalised energy company, has been hunting for partners to help it develop its vast shale reserves, and invest the $7bn a year it says it needs to boost production. Until now, many potential partners have been mooted, but none has even seemed close to wanting to do a deal. Continue reading »

Tags: , , Posted in Argentina, LatAm |

YPF: who wants a “fuel for cash” bond?

Aug 7, 2012 9:45pm by Jude Webber
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Argentines pride themselves on their ability to come up with creative solutions to tricky problems.

So faced with a need for the country’s biggest company – the now state-owned energy firm YPF – to raise cash to fund an ambitious exploration programme, what about paying interest in fuel? Continue reading »

Tags: , , Posted in Argentina, LatAm |
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