YPF SA (YPFD.BA)
18 Jan 2018
Latest Key Developments (Source: Significant Developments)
YPF SA:Argentina's Anti-Corruption Office is supporting state-controlled energy company YPF in its effort to preserve the confidentiality of parts of an investment deal reached with U.S. energy supermajor Chevron, state-run news agency Telam reported - RTRS.recently complied with a Supreme Court order to deliver up a copy of that contract, which governs the companies' arrangement to develop massive shale oil and gas reserves in the southern province of Neuquen.But on Feb. 29 the Buenos Aires-based company reiterated its request that the pact, which allegedly contains secret clauses, not be released in its entirety to the public. YPT stressed then that it would be at a "competitive disadvantage" otherwise.Telam reported Tuesday that Laura Alonso, head of the Anti-Corruption Office, the Justice Ministry unit responsible for applying a 2003 decree guaranteeing access to public information, met last Friday with YPF CEO Miguel Galuccio and other senior company officials.The agency added that her office ruled Monday that the company had provided ample justification for excepting the contract from full public disclosure, finding that the reasons the company gave were in keeping with international standards.The Supreme Court ordered the full disclosure of the investment deal governing development of the Vaca Muerta shale formation in response to a complaint filed by socialist lawmaker Ruben Hector Giustiniani and other politicians. Full Article
BUENOS AIRES Argentina's state-owned oil company YPF SA will sell a 25 percent stake in its electricity generation unit to U.S. industrial conglomerate General Electric Co , a source close to the deal told Reuters on Thursday.