Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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."

Click here to receive FREE breaking news email alerts for Andes Energia plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.