YPF

The Oil and Gas Sector in Macri’s Argentina

Against the backdrop of tumbling gas prices around the world (FT), Argentina’s Yacimientos Petrolíferos Fiscales (YPF) increased its shale oil production from the Vaca Muerta fields over the last year from 44,000 to 50,000 barrels per day. As the Wall Street Journal pointed out, Argentina’s domestic oil prices are at $67 a barrel versus the international price that hovers around $40 per barrel (WTI 39.91 and Brent $40.54 on 21 March), shielding YFP and its partners from the effects of the global dip in prices. In 2015, YFP increased spending by 4 percent instead of cutting spending -- other international companies cut as much as 20 to 40 percent.