Argentina’s state-run oil producer posts growth

Global Business

The headquarters of YPF stands tall over the Buenos Aires skyline and the company also stands tall in the energy sector. Argentina’s national oil and gas producer recently posted its 2014 results showing growth in production, reserves, investment and income. CCTV’s Joel Richards filed this report.

Argentina’s state-run oil producer posts growth

Argentina’s state-run oil producer posts growth

The headquarters of YPF stands tall over the Buenos Aires skyline and the company also stands tall in the energy sector. Argentina's national oil and gas producer recently posted its 2014 results showing growth in production, reserves, investment and income. CCTV's Joel Richards filed this report.

Highlights:

  • YPF’s president says the hybrid created between public and private sector has led to YPF’s success despite the global free-fall in oil prices.
  • The jewel in the YPF crown is Vaca Muerta in Argentina’s south, considered to be among the largest and best-quality shale oil and shale gas deposits in the world.
  • The first major contract for foreign investment was signed with Chevron and YPF also recently signed an agreement with Chinese producer Sinopec.