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
Japanese electronics maker Panasonic Corp. is in talks to buy Austrian headlight manufacturer ZKW Group GmbH, Nikkei business daily reported Monday, citing a person familiar with the matter. As per the report, both companies could reach a basic agreement as early as this month for a deal that could be worth up to $1 billion. Netflix offers a bunch of popular movies, Netflix originals, new TV shows, and documentaries in the month of December 2016, including the second season of the hit sitcom 'Fuller House' and 2016 blockbuster 'Captain America: Civil War', as all are getting ready for the holidays. SpaceX, the space transport company of Tech entrepreneur Elon Musk, is likely to launch its first Falcon 9 rocket since September's launchpad explosion on December 16. SpaceX's satellite launch customer Iridium Communications Inc. announced Thursday that its next-generation global satellite constellation, Iridium NEXT, will be launched on SpaceX's Falcon 9 rocket.
comments powered by Disqus
Follow RTT