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Argentina’s YPF to invest $30B to boost oil production

Published 10/25/2017, 10:20 AM
© Reuters.  Argentina’s YPF to invest $30B to boost oil production
YPF
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  • YPF (YPF +2.2%) says it plans to invest more than $30B over the next five years, in a move aimed at reversing an energy deficit that has hurt Argentina’s finances for years.
  • The pledge makes the state-controlled company the top investor in Argentina as Pres. Macri's market-friendly government is seeking to attract investments to consolidate an economic rebound after six years of stagnation.
  • YPF wants to raise overall oil and gas production by 5%/year to reach 700K boe/day in 2022 while exploration efforts continue, with reserves targeted to rise by 50%.
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