A dramatic ruling by a U.S. court ordering Argentina to hand over the 51% stake it holds in state energy firm YPF has cast a shadow over the country’s plans for its huge Vaca Muerta shale formation and hopes to return to global markets. The judgment adds uncertainty to Argentina’s plans to turn Vaca Muerta, the world’s No. 2 shale gas reserve and No. 4 for shale oil, into a key global energy-producing region that would help bring in foreign currency needed to prop up the economy. Argentine economist Agustin Monteverde said the uncertainty could also limit YPF’s own fundraising and strategic planning. YPF leads development of Vaca Muerta, often partnering with other local and international firms including Shell and Chevron.
SOURCE: YAHOO FINANCE
https://finance.yahoo.com/news/ypf-turnover-ruling-casts-shadow-154925387.htm