March 8, 2014
De Vido: 'The challenge for YPF and Petrobras is to work together'
Planning Minister Julio De Vido today held a meeting with Brazil's Energy Minister and Petrobras executives to demand more investments in Argentina, after Neuquen province revoked a Petrobras concession.
Authorities in Neuquen rescinded concessions on three fields citing insufficient investment, affecting Petrobras, Techint Group's Tecpetrol and Argenta Argentina.
A day later, Petrobras said it had met its investment commitments and was open to talks following the withdrawal of the company's Veta Escondida concession.During a press conference in Brazil, De Vido assured "YPF will have a professionalized conduction." "The region is going through a historical and totally different moment so the new YPF and Petrobras should work together and do business together," he stated.