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Argentina seeks joint energy ventures with Brazil

April 25/2012

(hydrocarbonprocessing) -- Argentina is seeking joint energy ventures with Brazil after the international community condemned Argentina for plans to nationalize oil group YPF, the country's biggest oil and gas producer.

Julio de Vido, the planning minister who is in temporary charge of YPF, traveled to Brazil for talks with Edision Lobao, Brazil's energy minister, and Maria das Gracas Silva Foster, Petrobras chief.

Last week, Argentine President Cristina Kirchner sponsored legislation to seize a 51% stake in the YPF from Spain's Repsol YPF. "The challenge that this new YPF and Petrobras have is to work together, in joint businesses and joint finances," de Vido said, according to the FT.

Brazil's state-run energy giant Petrobras,said Friday it will continue to invest about USD500 million a year in Argentina even as Argentina moves to expropriate a major oil and gas company from private investors.
Author:Anna Larionova
Tags:naphta, oil, neftehimiya.
Category:General News
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