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YPF says oil workers strike will cost $12M, hurt production

  • A one-day strike by 23K workers in the energy-rich Neuquen basin will cost YPF (YPF +2.9%) as much as $12M and cut production by 160K barrels of oil and 6M cubic meters of gas, the company says.
  • The workers are striking as provincial governors and federal authorities discuss changes to Argentina’s hydrocarbons law; the outcome will determine how revenue from the Vaca Muerta formation, which holds the world’s fourth-biggest shale oil reserves and second-largest shale gas reserves, are distributed.
  • The Neuquen basin is responsible for 40% of Argentina’s oil output and 56% of natural gas output, YPF says.
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Comments (1)
  • losbronces
    , contributor
    Comments (804) | Send Message
     
    Neuquen is also home to Bodega Fin del Mundo. Producing nice malbec and cabernet sauvignon wines.
    24 Jul 2014, 03:15 PM Reply Like
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