SALON

YPF CEO to reveal future plans after 100 days

Topics: From the Wires,

BUENOS AIRES, Argentina (AP) — The CEO of Argentina’s state-controlled YPF oil company plans to unveil his promised plan for attracting investors willing to make expensive bets on their ability to profit from developing the country’s vast unconventional oil and gas reserves.

The state-run news agency Telam says the plan Miguel Galuccio will release Thursday is more than 1,000 pages long. It also will lay out how he intends to squeeze more oil and gas out of aging wells and increase domestic oil and gas production in Argentina’s refineries, recovering the country’s capacity to provide for its own energy needs.

Few governments have intervened so deeply and directly in the energy business as Argentina has since it expropriated Repsol’s controlling stake in YPF on April 16 without paying the Spanish company any compensation.

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