Argentina 'rings changes at YPF'

Fighting talk: Repsol chairman Antonio Brufau

Reuters/Scanpix

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By Steve Marshall and news reports

 19 April 2012 10:24 GMT

The Argentinian government has reportedly unveiled plans for operational changes at YPF to boost output and make savings after saying this week it would expropriate Repsol’s 51% stake and nationalise the company.

In the first joint statement issued since taking over the day-to-day running of YPF, Planning Minister Julio de Vido and Deputy Economy Minister Axel Kicillof said they were taking steps to “guarantee the normal functioning of the company and, at the same time, laying the foundations to achieve full oil and gas production and to recover energy self-sufficiency”, the Financial Times reported.

Plans to be implemented include boosting production by 2 million barrels – or 2.5% of current annual output – through drilling and maintaining more wells over the next eight months,…

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