Latest news with #YPF
Yahoo
a day ago
- Business
- Yahoo
Crown Point to acquire Chubut concessions in Argentina
Crown Point Energy, through its subsidiary Crown Point Energia, has signed agreements to acquire a 95% operated interest in the El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions (Chubut concessions) in Argentina. The company will purchase the Chubut concessions and related infrastructure from Tecpetrol, YPF and Pampa Energía. The Chubut concessions, located approximately 40km west of Comodoro Rivadavia in the Golfo San Jorge basin, span a total of 113,325 acres. These concessions currently produce an average of 5,449 barrels of oil equivalent per day, which includes 4,252 barrels per day of light and medium crude oil and 7,179 cubic metres per day of natural gas. In addition to the concessions, Crown Point will acquire a 4.2% stake in Terminales Marítimas Patagónicas, the operator of an offshore loading facility that is vital for transporting crude oil from the Chubut concessions to domestic and export markets. The base purchase price set by Crown Point for these assets is approximately $57.9m (C$79.27m) in cash, with additional contingent consideration of up to $3.5m in cash, subject to standard closing adjustments. The transactions with Tecpetrol and YPF are expected to conclude in the third quarter of 2025 (Q3 2025), while the acquisition from Pampa is expected to close in June 2025. Crown Point, a Canada-incorporated oil and gas company based in Buenos Aires, trades on the TSX Venture Exchange and operates in Argentina. It focuses on exploration and development in Argentina's four key basins – Golfo San Jorge, Austral, Neuquén and Cuyo – across the Santa Cruz, Tierra del Fuego and Mendoza provinces. "Crown Point to acquire Chubut concessions in Argentina" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
DW
4 days ago
- Politics
- DW
Pope Leo XIV welcomes Argentine President Milei to Vatican – DW – 06/07/2025
Pope Leo XIV welcomed Javier Milei and reportedly agreed to visit Argentina. Leo's predecessor Francis was an Argentine who often clashed with Milei and never visited his home country during his 12-year papacy. Pope Leo XIV on Saturday welcomed Argentina's President Javier Milei to the Vatican, which released an official statement calling the meeting "cordial." After his exchange with Leo, Milei held talks with Vatican Secretary of State Cardinal Pietro Parolin and a diplomatic team. The Vatican statement said issues of "common interest," were discussed during Saturday's visit, "such as socioeconomic progress, the fight against poverty, and the commitment to social cohesion, in addition to addressing ongoing conflicts" and global peace efforts. Milei's office released an excited statement on social media after the meeting as well, announcing, "The Pope confirmed to the President that he will visit Argentina." Argentine media sources suggest such a trip could take place as soon as next year as part of a South American tour that could include stops in Uruguay and Peru, where Leo lived and worked for nearly 20 years. Can Milei navigate a turnaround in relations with Vatican? A brash libertarian populist with a fawning affinity for Donald Trump, Milei had a tense relationship with Leo's predecessor Pope Francis, an Argentine who never returned home during his 12-year papacy. Though Francis never publicly called out Milei, he indirectly criticized police heavy-handedness in the mistreatment of Argentine retirees protesting for better pensions in 2024, saying, "instead of paying for social justice, they paid for pepper spray." Milei, who launched rabid online tirades against Francis, went so far as to defame him as "an imbecile" and far worse in expletive-laden posts, even equating him with the Antichrist. Why has Milei stirred controversy? Milei has implemented radical austerity measures in his effort to slow inflation and lower poverty levels. His radical free-market approach runs counter to Catholic social teachings that expect the state to care for those of its citizens finding themselves in need. Archbishop of Buenos Aires Jorge Ignacio Garcia Cuerva — whom Leo also welcomed to the Vatican on Saturday — has accused Milei of lacking empathy, saying he "has no social thermometer" nor understanding for the pain of simple Argentines. Milei's trip to the Vatican followed a Friday meeting with Italian Prime Minister Giorgia Meloni at which the two allies signed an agreement between their respective partially state-owned energy companies ENI and YPF. Argentina sees protests swell ahead of major strike To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Edited by: Rana Taha
The Sun
4 days ago
- Business
- The Sun
Milei meets Pope Leo, confirms visit to Argentina
BUENOS AIRES: Argentina's President Javier Milei held his first official audience with Pope Leo at the Vatican on Saturday where he confirmed that the pontiff will visit the South American country, according to the presidential spokesman. No further details of the planned visit were disclosed on Saturday. Milei had a tense relationship with Pope Francis, the late Argentine pope who never returned to his native country during his 12-year papacy, potentially signaling the start of a new diplomatic chapter. 'The Pope confirmed to the President during our recent meeting that he will visit Argentina,' Manuel Adorni, the presidential spokesperson wrote via social media. The papal visit could take place as soon as next year, according to Argentina's daily newspaper La Nación, as part of a tour that would include stops in Uruguay and Peru, where Leo, the first U.S. pope, resided for nearly 20 years. Milei, a libertarian and ally of U.S. President Donald Trump, was not present at the inauguration ceremony of the new head of the Catholic Church due to local legislative elections he was required to attend. Discussions between the two parties on Saturday were described as 'cordial' and addressed issues of 'common interest such as socioeconomic progress, the fight against poverty, and the commitment to social cohesion, in addition to addressing ongoing conflicts,' the Vatican later said in a statement. Milei met Italian Prime Minister Giorgia Meloni on Friday in Rome as part of his visit, where an agreement between Italian energy group Eni and Argentina's state-owned energy firm YPF was signed.
Reuters
5 days ago
- Business
- Reuters
Eni, YPF sign agreement for participation in Argentina LNG project
MILAN, June 6 (Reuters) - Italian energy group Eni ( opens new tab and Argentina's YPF on Friday signed an agreement on the Argentina LNG (ARGLNG) project during a meeting in Rome between Italian Prime Minister Giorgia Meloni and Argentine President Javier Milei. Eni will act as a strategic partner of YPF on the Argentina LNG project and make use of the know-how it has developed in its floating LNG projects in Congo and Mozambique, the Italian group said in a statement. The Argentina LNG project is designed to develop the resources of the onshore Vaca Muerta field and serve international markets. The project will export up to 30 million tons per year of liquefied natural gas (LNG) by 2030, using a phased approach.
Yahoo
5 days ago
- Business
- Yahoo
Eni, YPF sign agreement for participation in Argentina LNG project
MILAN (Reuters) -Italian energy group Eni and Argentina's YPF on Friday signed an agreement on the Argentina LNG (ARGLNG) project during a meeting in Rome between Italian Prime Minister Giorgia Meloni and Argentine President Javier Milei. Eni will act as a strategic partner of YPF on the Argentina LNG project and make use of the know-how it has developed in its floating LNG projects in Congo and Mozambique, the Italian group said in a statement. The Argentina LNG project is designed to develop the resources of the onshore Vaca Muerta field and serve international markets. The project will export up to 30 million tons per year of liquefied natural gas (LNG) by 2030, using a phased approach.
