The head of the state oil company added that “before this period we witnessed a depredation as a consequence of a state policy that did not have YPF as its central axis, which is proven with numbers” and that “We were able to lower the debt without shrinking, producing more, and without laying off any worker and investing.”
Along these lines, González highlighted that “between 2015 and 2019 our country had a decline in oil and gas production, because it seems that it was easier to import crude oil than to give people work.” “We cannot analyze any future without saying where we came from and what happened, otherwise we run the risk of things happening again”he pointed out and added that the previous management “definanced the main company in Argentina, which today invoices US$ 15,000 million.”
In recent days it was reported that YPF has “a debt today of 5,655 million dollars” and that it could be lowered by almost 1,800 million because in “2019 it was 7,600 million” and stressed that “Two days ago we reported a quarterly profit of US$ 678 million and the most important thing is that we are with the most important balance of organic growth in the last 25 years.”
According to the manager, “we have been growing 7% in crude oil and 9% in gas this year; the highest production jump in the last 25 years. Today YPF has the lowest fuel prices in the region and has increased less than inflation”. “We were able to lower the debt without shrinking, producing more, and without laying off any worker and investing”indicated.
González assured that when his administration ends, he will end “with a growth curve that will determine the possibility of starting, advancing, and strengthening growth projects.” “Before this period we witnessed a depredation as a consequence of a state policy that did not have YPF as its central axis, which is proven with numbers”
Gonzalez announced that next year YPF will be “self-supplying 100% of the crude; after many years we are once again self-sufficient” and explained that “of the 30 thousand kilometers that Vaca Muerta has, where to the west there is more gas and to the right there is more oil, only 8% of what can be exploited has been exploited.”
Furthermore, he announced that The Petronas company (Petroliam Nasional Berhad), Argentina’s partner for seven years, “is now signing an agreement that when the definitive investment is signed it will have the construction of a gas pipeline equal to Néstor Kirchner” of 570 kilometers and with an investment of 40 billion dollars by 2036 and noted that “Argentina is close to exporting natural gas and after exporting liquefied natural gas.”
González, also reported that they are “Advancing to make YPF’s own oil pipeline, which is called Vaca Muerta Sur, which will be an investment of 1,200 million dollars net that goes from Vaca Muerta to Punta Colorada in the province of Río Negro.”
He also referred to YPF Litio and said that they wanted “it to be a relief wheel for the provinces that make up the lithium triangle, so that this raw material can be used by the provinces and not only lithium is exported but also Argentine work.”
Source: Ambito
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