Argentina’s state run oil producer posts growth

Insight

Argentina’s state run energy firm YPF recently released 2014 results that showed company growth in all areas. This is just two and a half years after the government nationalized the oil producer. CCTV America’s Joel Richards filed this report from Buenos Aires.

Argentina's state run oil producer posts growth

Argentina's state run oil producer posts growth

Argentina's state run energy firm YPF recently released 2014 results that showed company growth in all areas. This is just two and a half years after the government nationalized the oil producer.CCTV America's Joel Richards filed this report from Buenos Aires.

Highlights:

  • YPF needs foreign investment. The first major contract was signed with Chevron and YPF also recently signed an agreement with Chinese producer Sinopec.
  • New legislation dubbed the “Galuccio Law” has been passed to try to attract more foreign investment.
  • The Galuccio Law will have to overcome environmental concerns surrounding fracking.