logo
Share SHARE
FONT-SIZE Plus   Neg

Andes Energia Says It Is Prepared To Continue To Work With YPF In Same Manner

Andes Energia Plc (AEN.L) said it is prepared to continue to work with YPF S.A. in the same cooperative manner it has over the last 12 months. This comment is made subsequent to the announcement made by the Argentinean Government of its decision to acquire 51% of the shares of YPF.

According to Andes Energia, the legislation drafted by the Argentinean Government provides that YPF will continue as a "sociedad anónima" or legal corporation, regulated by the Comision Nacional de Valores. Besides, the proposed legislation encourages Joint Ventures and strategic alliances between YPF and other parties for exploration and production, with the mutually beneficial objective of satisfying the country's hydrocarbon needs and generating exportable stocks.

Neil Bleasdale, chairman of Andes, said, "The Board notes the Government's desire to increase Argentinean oil and gas production. We look forward to continuing working to achieve this goal. Overall we remain very optimistic over Argentina long term prospects."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
comments powered by Disqus
Follow RTT