Argentina’s government has appointed lawyer Pablo González as the new president of state energy giant YPF, state news agency Telam said Jan. 20, as the firm grapples with the impact of the coronavirus pandemic and rising pressures over debt.
González would replace Guillermo Nielsen, who said on Twitter that he had been offered a new government role and that his exit from YPF was being “finalized.”
YPF’s shares, which have been hit by concerns over plans to restructure the firm’s debts and a potential standoff with creditors, fell more than 7% on Jan. 20 in trading in Buenos Aires.
Disclosing Trans Mountain’s insurers publicly may result in pressure that shrinks its pool of potential insurers and raises premiums for the oil pipeline and its shippers, the corporation says.
In a letter to fellow Democrat Joe Biden, Sen. Joe Manchin said that even without the Keystone XL pipeline, the oil would still find its way to the U.S. by rail and truck.
Enbridge's 68-year-old Line 5 pipeline carries 540,000 bbl/d of light crude and propane, and one 4.5-mile (7.2-km) section runs underwater along the lakebed.