VAST VIEW YPF Reportedly Closing In On November Deal With XRG And Eni
Argentina's state-run energy giant YPF is working toward finalizing an agreement with Abu Dhabi's XRG and Italy's Eni as soon as this month, according to Bloomberg.
Photo by SatyaPrem via Pixabay
Argentina's state-controlled oil and gas company YPF is pushing to reach a deal with UAE investment firm XRG and Italian energy major Eni, with a potential announcement targeted for November, according to Bloomberg.
Details of the agreement's scope were not disclosed in the report, which was presented as a video segment featuring commentary from Bloomberg's Marin. XRG, backed by Abu Dhabi National Oil Company, has been expanding its international energy investments, while Eni has long-standing operations in Argentina's energy sector.
YPF has been a central player in developing Argentina's Vaca Muerta shale formation, one of the world's largest unconventional oil and gas reserves, and has sought international partners to help fund and expand production and export infrastructure.
Sources: Bloomberg Markets
More from Money
Word that Disney is set to cut thousands of jobs barely budged its stock, leaving investors to wonder what the company's next move really means for its future.
A widely expected interest-rate increase from the Bank of England has sparked sharp disagreement among traders and economists over where rates go from here, according to Bloomberg.
Chipmaker Marvell and photonics firm Lumentum are officially combining in a stock-financed deal aimed squarely at the booming optical-networking sector.