He also indicated that YPF will invest around US $ 8,000 million annually in the Neuquén Shale, which represents approximately half of the total projected investment for the Neuquina training. This positions Vaca Muerta as a global scale project, comparable to the operations of the main international oil companies. That is to say that Neuquén will be located at the level of capital disbursements carried out by a global supermajor in a year in between 50 and 150 countries.
In this way, Marin sought to put in context to convince entrepreneurs present to invest in Argentina:
You have to go to Vaca Muerta, because there will be a lot of work, a lot of efficiency to make, a lot of investment You have to go to Vaca Muerta, because there will be a lot of work, a lot of efficiency to make, a lot of investment
Vaca Muerta, oil site in Neuquén.
Vaca Muerta, oil site in Neuquén.
YPF projections
The president of YPF also presented the “4×4” program of YPF, which seeks to quadruple the value of the company in four years.
And one of the great axes of this strategy is the export projection. “We have the opportunity to transform Argentina into a net exporting country,” said Marin, and explained that YPF intends to reach 30,000 million dollars annually in energy exports at the beginning of the next decade, tripling its current production thanks to the development of Vaca Muerta.
In addition, the head of YPF highlighted the importance of effective, both internal and external communication, and highlighted the advances of the ambitious Liquefied Natural Gas project (LNG) on the coast of Río Negro, which would open new doors to international markets.
And in a call to Texan services to invest in Vaca Muerta, according to the specialized site ‘+E’, Horacio Marin concluded:
They will be glorious years for all: for companies, for workers, for the country. We can do something extraordinary They will be glorious years for all: for companies, for workers, for the country. We can do something extraordinary
Oil prices, falling
But as mentioned, at the same time, the international context was navigating other much less auspicious routes. Well, not only Brent registered another strong fall, after the great decline in the first days of April and the subsequent “stability” that he achieved at prices, of course, well below those of March, but also the crude West Texas Intermediate (WTI), which serves as a reference for the US market, and also showed a marked volatility.
The Brent crude rose more than 3% in the London futures market, after the exit of the USA with Iran
during the session, the price of WTI fell to US $ 55.30 per barrel, which represents a decrease of 5.1% compared to the previous closure.
As with the Brent, the WTI managed to recover part of the lost terrain, closing with a more moderate fall of 3.04%, with a price of US $ 56.52.
Perspectives
Analysts warn that the market could experience new fluctuations based on how global demand, storage levels and response of other large producers, such as the United States.
In addition, the evolution of geopolitical and economic factors – such as conflicts in producing regions, monetary policy decisions or dollar behavior – will also influence the behavior of the oil market during the next weeks.
Meanwhile, in terms of prices, according to DNB Market analysts, Brent could potentially fall below US $ 50 per barrel by the end of this year if the OPEC+ continues to accelerate its production increases.
So far this year, the price of Brent oil has dropped around 20%, while WTI accumulates a fall of more than 19%.
It is that the market has been reacting nervously to the possibility of a mismatch in the balance between supply and demand. Thus, according to analysts, for now, the eyes of investors and analysts will be placed in the evolution of global economic data, the behavior of energy consumption and the future decisions of the OPEC+ in a context still marked by volatility and uncertainty.
OTHER NEWS OF URGENT24
The UOM starts its fight plan with 24 hours of national unemployment, and continues with 48 and 72 hours
“Santiago Caputo was a simple and pleasant boy: being so young and having so much power dazzles”
Santa Fe puts pressure on retentions and takes off from Javier Milei
72 hours for the new Pope: Gregorio X, the inventor of the conclave
