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New YPF CEO Miguel Galuccio unveils a plan to boost capital spending and increase petroleum...

  • Thursday, August 30, 2012, 3:45 PM ET
    New YPF CEO Miguel Galuccio unveils a plan to boost capital spending and increase petroleum output and says the company has made "significant progress toward strategic agreements" with Chevron (CVX) and China's Cnooc (CEO). YPF expects to rely mainly on its cash flow to fund the $37B in investments needed to boost oil and natural gas output by about a third by 2017.
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    No way YPF will be able to rely mainly on its cash flow. It is far from the 37B funding needed. Argentina does not have enough cars, industries and fuel use so as to fund the 37B.
    30 Aug 2012, 04:04 PM Reply Like
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