Starmer, the UK's ambassador to Berlin, is there for talks on resetting ties with Europe
On Wednesday, British Prime Minister Keir starmer will discuss an economic and defense accord with German leaders. He hopes to use his two-day trip to Europe's leading powers Germany and France as a chance to reset the relationship with the rest. Starmer stated that he wanted Britain move past the previous Conservative Government's fractious relationships with European allies…
YPF reports higher than expected net profit
Argentina's state-controlled energy company YPF posted a first-quarter net profit of 2.109 billion pesos ($239 million) on Thursday, beating market expectations. The consensus forecast in a Reuters poll of economists was for profit of 1.5 billion pesos in the January to March period. ($1=8.8225 Argentine pesos at the end of March) (Reporting by Sarah Marsh and Eliana Raszewski; Editing by Peter Galloway)
YPF Sells $1.5b of Bonds at 8.5%
Argentina's state energy company YPF on Thursday sold $1.5 billion worth of new 10-year bonds at 8.5 percent, the company said in a statement. Reuters' IFR had reported the issue was launched at 8.625 percent, down from price talk of 8.75 percent. (Reporting by Eliana Raszewski; Writing by Sarah Marsh; Editing by Cynthia Osterman)
Argentine Biodiesel Exports Up 40 %
Argentine biodiesel exports rose 40 percent on the year in 2014 to nearly 1.6 million tonnes while total production rose 29.4 percent 2.58 million tonnes, the Federal Statistics Agency said on Friday. The Buenos Aires government last year cut the tax on biodiesel exports with the aim to boost a sector hurt by new European biodiesel import tariffs and exporters sought out new markets for the green fuel.
Argentine Biofuels Exports Spike Unlikely
A policy change allowing Argentina's biofuel producers another way to qualify for U.S. biodiesel credits will not hugely boost fuel exports from the South American country, the head of the Argentine Biofuels Chamber (Carbio) said. Argentina already ships biodiesel to the U.S. market, but the policy move stoked concerns from U.S. producers that imports will increase and threaten their market share.
YPF: Oil, Gas Output Rose in 2014
YPF's oil and natural gas production rose in 2014 for the second year running, Argentina's state-run energy company said on Thursday, fanning hopes Latin America's third largest economy is on track to regaining energy self-sufficiency. Oil production rose 8.7 percent last year, while gas output was up 12.5 percent, YPF said. The company did not publish annual output volume. "These results ...
Strike Causes Fuel Shortage in Argentina
Argentina's state-run energy company YPF said on Thursday an open-ended strike by oil workers in the province of Mendoza was causing a shortage of fuel at its service stations there and risked impacting supply throughout the country. Workers are striking due to conflicts within their trade union rather than due to problems with YPF, the company said.
Uruguay Hikes Electricity Prices By 6.9%
Uruguay is increasing electricity prices by 6.9 percent, Industry Minister Roberto Kreimerman said on Wednesday, as part the government's efforts to cut its budget deficit. National utility company UTE had proposed a rise of just 3.9 percent. "Tariffs will rise by 6.9 percent and will include, on top of this hike, which is still below inflation, incentives to improve energy efficiency," Kreimerman told a news conference.
YPF Reports Higher-than-expected Q3 Net Profit
Argentina's state-controlled energy company, YPF , on Wednesday posted a third-quarter net profit of 3.212 billion pesos ($377.4 million), beating market expectations. The market had expected earnings of 2.310 billion pesos for the quarter, according to the median forecast in a Reuters poll of analysts. YPF said it had clocked up net profit of 7.549 billion pesos in the first nine months of the year.
Argentine Congress Passes Law Aimed at Attracting Oil Investment
Argentina's Congress gave final approval on Thursday to a law revamping energy investment regulations, the latest step by President Cristina Fernandez to lure foreign companies into the country's promising shale sector. The law, passed by a 130 to 116 vote in the lower house, cuts the minimum investment needed for companies to be exempt from import controls to $250 million from $1 billion.
Argentina Agrees Draft Energy Law to Boost Foreign Investment
Argentina's federal government said on Wednesday it had reached a preliminary agreement with provinces to reform energy regulations and improve incentives to lure the foreign investors needed to develop its vast shale oil and gas reserves. The cash-strapped South American country needs investment in its southern Patagonian Vaca Muerta fields to reverse a costly energy deficit…
YPF Inks Shale Oil Deal with Petronas
Argentina's state-controlled energy company YPF said on Thursday it had reached a deal worth $550 million with Malaysia's state oil firm Petronas to develop shale oil in the vast Vaca Muerta formation. Argentina needs foreign investment to develop the shale formation, thought to be one of the world's largest. YPF said Petronas would contribute…
YPF Says Neuquen Strike Slashes Energy Output
Argentina's state oil producer YPF said on Thursday a labor strike in the province of Neuquen will cut output by 80,000 barrels of crude oil and 3 million cubic meters of natural gas. If the strike, which began at 2000 local time (2300 GMT) on Wednesday is over in 24 hours and oilfields take 48 hours to get back on track, the total cut in output could be 160…
China lends Argentina $7.5 bln for Power, Rail Projects
Argentina signed deals on Friday to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt. Among the deals signed, Argentine President Cristina Fernandez and her Chinese counterpart, Xi Jinping, agreed on a loan for $4.7 billion from the China Development Bank for the construction of two hydroelectric dams in Patagonia.
Exxon Mobil Discovers Oil in Argentine Shale Field
U.S. energy major Exxon Mobil Corp said it has made its first discovery of non-conventional gas and crude oil in Argentina's vast shale formation of Vaca Muerta. Initial results at a well 4,570 meters (15,000 feet) deep produced an average flow rate of 770 barrels of oil per day, Exxon said in a statement late Tuesday. The Vaca Muerta, Spanish for "dead cow…
