YPF Sees Argentina Overhaul Drawing Billions in Investments
- Gutierrez sees government crude subsidies ending by 2017
- YPF cutting costs, wooing foreign investors for Vaca Muerta
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Argentina’s biggest oil company sees the government removing production subsidies by the end of 2017, a step that may help lure investment as President Mauricio Macri tries to sell his vision of a more competitive economy.
The reforms, including talks with unions and contractors to help reduce costs, may attract some $5 billion to $10 billion in additional investments into the country’s oil and gas industry through the end of next year, YPF SA Chairman Miguel Angel Gutierrez said in an interview Wednesday at Bloomberg headquarters in New York. YPF has also had conversations with “middle-market" energy producers and equity firms as it seeks to pull in even more money, the chairman said.