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Latin American Economy & Business - November 2018

Region: Corporate Radar

YPF to boost investment: Yacimientos Petrolíferos Fiscales (YPF), the state-owned Argentine oil company, will invest between US$4bn and US$5bn each year until 2023 to boost its output, said chief executive Daniel González. He stated that the aim was to boost output by 5%-7% with the emphasis on non-conventionals such as shale, given the company’s big investment in the Vaca Muerta shale oil and gas deposits in Patagonia. YPF accounts respectively for 45% and 39% of Argentina’s total oil and gas output. González said the company was set to grow faster and in a more disciplined fashion, and to “significantly” reduce its debt leverage.

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