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.
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.
Schlumberger has spent billions of dollars to take over managing customers' oil fields, in some cases becoming an investor in the fields, while seeking to profit from increased oil production.