LatinNews Daily - 07 October 2019

Argentina: On 1 October the US embassy in Argentina released a statement outlining the recent visit by the US ambassador to Argentina, Edward Prado, to the country’s northern provinces of Nequén and Río Negro to meet representatives from Vista Oil & Gas Argentina SAU and Aleph Midstream SA. The two oil and gas companies have received significant funding from the US Overseas Private Investment Corporation (Opic) in a bid to catalyse investment in one of Argentina’s key industries. Opic announced the US$450m loan for the firms on 11 September, attributing US$300m to Vista and a further US$150m to Aleph Midstream. Prado stated that the funds demonstrate the US’s “long-term commitment to the potential of Argentina and a better strengthening of our bilateral relationship”. Prado visited Vista’s headquarters in the heart of ‘Vaca Muerta’ field, Argentina’s large-scale shale hydrocarbon deposit, and the Entre Lomas site in Río Negro. Here he met Vista CEO Miguel Galuccio, governor of Neuquén Omar Gutiérrez, and governor of Río Negro Alberto Weretilneck, to discuss the efficiency and safety of current operations and ongoing projects. Galuccio stated that the US ambassador to Argentina’s visit marked a “transcendental day for Vaca Muerta and the industry…which symbolises the international community’s confidence in and support for Argentina’s economic, social, and energy growth”.

End of preview - This article contains approximately 826 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial