Argentina’s Chubut province is preparing a ceremony to be held on March 14 to announce the end of two of YPF SA (YPFD)’s concessions, La Nacion reported, citing provincial officials it didn’t identify.
The province gave the country’s largest energy producer seven days to provide a “working plan,” a period that ends on March 14, the Buenos Aires-based newspaper said.
Chubut Governor Martin Buzzi said YPF, the domestic unit of Spain’s Repsol YPF SA (REP), failed to fulfill its investment commitments, La Nacion said.
An official at YPF, who asked not to be identified because he isn’t authorized to speak publicly, declined to comment when contacted by Bloomberg today.
To contact the reporters on this story: Eliana Raszewski in Buenos Aires at eraszewski@bloomberg.net
To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net
Source: bloomberg.com