Argentina YPF to Shed Offshore Exploration Projects

Argentina's energy company YPF wants to speed up a divestiture plan that includes selling controlling stakes in offshore exploration projects in Argentina and Uruguay, reducing its presence in mature fields and later offering a gas distribution company for sale, chief executive officer Horacio Marin said.

The divestiture's goal is to streamline the company to focus on Argentina's most prolific region for oil and gas production, the Vaca Muerta formation.

(Reuters)