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YPF, Chevron to invest $1.6 bn in 2014 in Argentina's Vaca Muerta

Buenos Aires, Apr 11 (EFE).- Argentine oil company YPF and U.S. energy supermajor Chevron Corp. plan to invest $1.6 billion this year to develop non-conventional oil and gas reserves in the Loma Campana area, part of the massive Vaca Muerta shale formation. Both companies will share equally in the investment outlay, which will go toward drilling 170 wells and building production facilities in Loma Campana, located in the southwestern Argentine province of Neuquen, YPF said in a statement Thursday.

Chevron, YPF ramp up Argentina shale investment

US oil giant Chevron and state-controlled YPF unveiled plans Thursday to spend another $1.6 billion to develop Argentina's Vaca Muerta shale formation for oil and gas projects. The investment comes on top of $1.2 billion Chevron agreed to spend last year for a shale pilot project. The second phase of exploration calls for drilling 1,500 wells across 395 square kilometers (150 square miles) in the hopes of producing 50,000 barrels of oil per day and three million cubic meters of gas per day.

Repsol's shareholders approve settlement with Argentina

Madrid, Mar 28 (EFE).- Spanish oil major Repsol's shareholders approved the compensation accord the company reached in February with the Argentine government over the 2012 nationalization of its YPF unit. The deal, which ends a two-year dispute over the expropriation of Repsol's 51 percent stake in Argentina's largest oil company, calls for Buenos Aires to pay the Madrid-based oil major $5 billion in dollar-denominated bonds maturing between 2017 and 2033.

Repsol shareholders approve $5-bn payoff from Argentina

Spanish oil giant Repsol said on Friday its shareholders had approved a deal to accept $5 billion in compensation from Argentina for the country's seizure of its subsidiary YPF. The deal seeks to repair the financial hit taken by Repsol when Argentina's President Cristina Kirchner ordered the nationalisation of Repsol's 51-percent stake in YPF in April 2012.

Fire extinguished at oil depot in Argentina

Buenos Aires, Mar 23 (EFE).- Firefighters brought the blaze that caused an explosion that injured 17 people at an oil depot in the western Argentine province of Mendoza under control on Sunday, state-controlled oil company YPF said in a statement. The storage tank at the Cerro Divisadero complex exploded on Saturday. The explosion was caused by a fire that started on Friday night at the oil depot located about 1,000 kilometers (621 miles) west of Buenos Aires.

Blast at oil depot in Argentina injures 14

Buenos Aires, Mar 23 (EFE).- State-controlled oil company YPF said an explosion at a tank farm in the western Argentine province of Mendoza injured 14 people. Media reports, however, said 17 people were injured in Saturday's explosion. The explosion was caused by a fire that started on Friday night at the Cerro Divisadero complex, located about 1,000 kilometers (621 miles) west of Buenos Aires. Firefighters continued working on Saturday evening to put out the blaze and barriers were erected to keep crude from flowing into the Rio Grande.

Blast at oil depot in Argentina injures 14

Buenos Aires, Mar 23 (EFE).- State-controlled oil company YPF said an explosion at a tank farm in the western Argentine province of Mendoza injured 14 people. Media reports, however, said 17 people were injured in Saturday's explosion. The explosion was caused by a fire that started on Friday night at the Cerro Divisadero complex, located about 1,000 kilometers (621 miles) west of Buenos Aires. Firefighters continued working on Saturday evening to put out the blaze and barriers were erected to keep crude from flowing into the Rio Grande.

Argentina thanks Rajoy, Peña Nieto for facilitating settlement with Repsol

Buenos Aires, Mar 13 (EFE).- Argentina's government on Thursday thanked Spanish Prime Minister Mariano Rajoy and Mexican President Enrique Peña Nieto for the "very positive" role they played in helping it reach an agreement with Spanish oil company Repsol on compensation for the takeover of its former unit, YPF.

YPF makes oil find in Argentina's Rio Negro province

Buenos Aires, Mar 12 (EFE).- State-controlled oil company YPF said it discovered an oil field in Rio Negro, a province in southern Argentina. The find was made in the Los Caldenes block, located 30 kilometers (about 19 miles) north of the town of Cinco Saltos, the company said in a statement. The field contains an estimated 15 million barrels of petroleum, YPF said. The discovery was made at the Los Caldenes x-2 well, which was drilled to a depth of 31.54 meters (about 102 feet) below the well head, YPF said.

Argentina, Repsol sign accord on YPF 2 years after expropriation

Buenos Aires, Feb 27 (EFE).- The Argentine government and Spanish oil company Repsol on Thursday signed a $5 billion accord putting an end to the bitter dispute that erupted after President Cristina Fernandez expropriated 51 percent of Repsol's stake in energy company YPF in May 2012. The agreement establishes compensation for the Spanish oil firm of $5 billion in dollar-denominated government bonds, a debt that will be settled by 2033, at the latest, if the bonds are held to maturity.
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