Reuters: Market News: STXNEWS LATAM-Argentina province moves to revoke key YPF license

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STXNEWS LATAM-Argentina province moves to revoke key YPF license Apr 1st 2012, 16:57 Tweet Share this Email Print Sun Apr 1, 2012 12:57pm EDT Argentina's Chubut province is moving ahead with plans to rescind more operating licenses held by the YPF, the country's biggest energy company and the local unit of Spain's Repsol, the governor said late on Saturday. "We're gathering very precise information about the company's shortcomings in our province, which is the reason for our decision to continue with the process of revoking (YPF concessions) in four more fields, starting with Manantiales Behr," Governor Martin Buzzi said on a government website. Manantiales Behr accounts for about 10 percent of the country's total oil output, but Buzzi said investment had lagged. Six provinces including Chubut have already stripped YPF of concessions but most have been in marginal areas. YPF, under heavy pressure to boost production to reduce fuel imports, has vowed legal action against Chubut. Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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