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Bloomberg reported that YPF SA (NYSE:YPF) will lose 9% of its output as operating licenses were cancelled.
Bloomberg reported that YPF SA (NYSE:YPF) will lose 9% of its output as operating licenses were cancelled.
As quoted in the market news:
The provinces of Chubut and Santa Cruz yesterday pulled four oilfield licenses saying YPF hasn’t invested enough. Mendoza province also yesterday told the producer to retract fuel price increases within five days or face “severe” sanctions. YPF lowered prices after it was told to do so, the company said in a separate statement.