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Friday, Sep 6
Pemex sees benefit in potential YPF partnership for Argentina shale
- Pemex would consider an offer to partner with YPF in developing shale projects in Argentina, including the Vaca Muerta formation, a director of Mexico's state-run oil company says.
- Apparently the feeling is mutual: YPF CEO Miguel Galuccio has said he might be willing to work with Pemex as a partner to help finance projects to help revert declining output.
- A potential complication: Pemex is a minority shareholder in Repsol (REPYY.PK, REPYF.PK), which is lobbying against prospective Vaca Muerta partnerships since Argentina expropriated YPF from Repsol last year.