How decades of conflicting administrations of the state-owned energy company resulted in Argentina being sentenced to pay US$16 billion

Judge Loretta Preska had rejected Argentina’s request to stay the turnover

Argentina has three more days to secure a stay from the Court of Appeals. Two weeks ago, judge Loretta Preska ordered the country to hand 51% of its shares to the plaintiffs

The country’s defense team argued that following Loretta Preska’s order would violate ‘fundamental principles of U.S. and international law’

The government declared a nationwide ban on industries and CNG stations, as some households are suffering gas shortages

In 2023, the country lost a US$16.1 billion case over the expropriation of the oil and gas giant; Milei said Argentina would appeal the ruling

Italian Prime Minister Giorgia Meloni and the Argentine leader also signed a five-year deal to expand co-operation on investment, defense, and other core areas

Competitive prices and transportation infrastructure need to be resolved before gas from Vaca Muerta can flow to the neighboring country

YPF CEO Marín said that contract will be for 50 million cubic meters and that a third global player will also join