• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

YPF turnover ruling casts shadow over Argentina shale hopes, FX

July 1, 2025
in Technology & Startups
Reading Time: 3 mins read
A A
0
2
SHARES
4
VIEWS
Share on FacebookShare on Twitter


By Eliana Raszewski, Leila Miller and Jorge Otaola

BUENOS AIRES (Reuters) -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.

U.S. District Judge Loretta Preska said on Monday that Argentina must transfer its YPF shares within 14 days to partially satisfy an earlier $16.1 billion court judgment against the country over its 2012 nationalization of the firm.

The government of pro-market libertarian Javier Milei said it would appeal the ruling to “defend national interests.”

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.

YPF leads development of Vaca Muerta, often partnering with other local and international firms including Shell and Chevron. Vaca Muerta has hit production of over 400,000 barrels per day of oil and some 70 million cubic meters of gas per day.

“Control of YPF is important for Milei; that’s why an appeal is the only option for him,” said Marcelo García, director for the Americas at New York-based risk consultancy Horizon Engage.

“YPF leadership in Vaca Muerta is crucial for the medium- to long-term sustainability of his economic program, because it should bring the U.S. dollars the economy lacks.”

The legal dispute arose from Argentina’s 2012 seizure of the 51% YPF stake held by Spain’s Repsol, without tendering for shares held by minority investors Petersen Energia Inversora and Eton Park Capital Management.

In 2023, Preska awarded $14.4 billion to Petersen and $1.7 billion to Eton Park in the same case, which Argentina is also appealing. The plaintiffs are represented by litigation funder Burford Capital, which expects to receive some 35% and 73% of Petersen’s and Eton Park’s respective damages.

The legal ruling could also dent Argentina’s ability to tap global markets, something the country is keen to do to bolster its depleted reserves after years of currency crises, regular fiscal deficits draining state coffers and high inflation.

“These unresolved disputes could hinder, or even block, Argentina’s return to the international capital markets,” BancTrust & Co said in a note on Tuesday.

García added that surrendering the shares in YPF would constitutionally need the approval of Argentina’s Congress, which was unlikely to happen, adding a more realistic outcome was that it would force Milei to negotiate.

“Surrendering YPF is politically not viable in Argentina today. But the ruling does force the administration to the negotiating table and gets Milei’s attention on the case.”

Argentina’s government must urgently build up foreign currency reserves to pay its debts and meet targets as part of a $20 billion loan program agreed with the International Monetary Fund in April, the indebted country’s 23rd IMF program.

YPF’s U.S.-listed shares slumped more than 5% on Monday, while Burford’s stock price jumped. Both steadied on Tuesday. YPF’s current market capitalization is around $12.5 billion.

(Reporting Eliana Raszewski, Leila Miller and Jorge Otaola; Writing by Adam Jourdan; Editing by Marguerita Choy)

Tags: Argentinaglobal marketsJavier MileiLoretta PreskaPetersen Energia InversoraVaca Muerta
Previous Post

Blue Jays recall Jiménez from Triple-A Buffalo

Next Post

“Climbing Everest”: How Al Hilal’s win over Man City at CWC was a milestone

Related Posts

As his feud with Trump reignites, Musk’s business with the government is back in the crosshairs

July 1, 2025
6

Best iPad apps to boost productivity and make your life easier

July 1, 2025
6
Next Post
“Climbing Everest”: How Al Hilal’s win over Man City at CWC was a milestone

“Climbing Everest”: How Al Hilal’s win over Man City at CWC was a milestone

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

July 1, 2025
FILE PHOTO: A statue of John Carroll, first Archbishop of Baltimore and founder of Georgetown University, sits on the Georgetown campus in Washington June 14, 2012. REUTERS/Jonathan Ernst/File Photo

Pro-Palestinian Georgetown student can remain free, US appeals court rules

July 1, 2025
Iran's envoy summoned over suspected spy – DW – 07/01/2025

Iran’s envoy summoned over suspected spy – DW – 07/01/2025

July 1, 2025
Kim Jong Un shown honouring soldiers killed while fighting for Russia

Kim Jong Un shown honouring soldiers killed while fighting for Russia

July 1, 2025

Recent News

FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

July 1, 2025
0
FILE PHOTO: A statue of John Carroll, first Archbishop of Baltimore and founder of Georgetown University, sits on the Georgetown campus in Washington June 14, 2012. REUTERS/Jonathan Ernst/File Photo

Pro-Palestinian Georgetown student can remain free, US appeals court rules

July 1, 2025
4
Iran's envoy summoned over suspected spy – DW – 07/01/2025

Iran’s envoy summoned over suspected spy – DW – 07/01/2025

July 1, 2025
4
Kim Jong Un shown honouring soldiers killed while fighting for Russia

Kim Jong Un shown honouring soldiers killed while fighting for Russia

July 1, 2025
3

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

FBI to relocate headquarters from Hoover Building to Ronald Reagan Building in D.C.

July 1, 2025
FILE PHOTO: A statue of John Carroll, first Archbishop of Baltimore and founder of Georgetown University, sits on the Georgetown campus in Washington June 14, 2012. REUTERS/Jonathan Ernst/File Photo

Pro-Palestinian Georgetown student can remain free, US appeals court rules

July 1, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co