Figures out today from AEN and as I have written plenty about them recently there isnt much to add this morning. The numbers confirm that the company had a good year in 2015 and despite having to wait for the change of Government got on with things pretty well. Production was up, the Interoil acquisition was a success and expanded the company’s portfolio into Colombia and both revenue and EBITDA rose. The Chachahuen provides solid growth whilst the Vaca Muerta gives the stock some spice, especially when you see just how many blue chip oil companies are in the post code. With the oil price set to be in the $60-67 range in Argentina for this year at least, the company should remain on the radar for investors. -
Argentina announced a new program on Thursday to boost natural gas production through a guaranteed price system, in a bid to cut liquefied natural gas imports and reduce the country's long running energy deficit.
Under the program, which began on Thursday and will run through December 2018, the government will compensate producers launching new natural gas projects for the difference between what they receive in the market and $7.5 per million British thermal units.
Energy Minister Juan Jose Aranguren said last week that he expects Argentina to stop importing liquefied natural gas in five or six years.
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