Argentina’s Tecpetrol, part of the Techint Group, will invest $2.3 billion in the Vaca Muerta shale fields through 2019, said Guillermo Pereyra, a union leader and senator. Tecpetrol will aim to produce 14 million cubic meters of shale gas by 2019. That is half the amount of gas Argentina currently imports, Pereyra said, and will help Macri’s government reach its goal of energy self sufficiency.
Sources: Reuters, Upstream online
Volkswagen’s Seat targets Latin America in expansion push
Volkswagen’s Seat division will seek to expand its business in Latin America and North Africa in the next decade, as the Spanish brand looks to stabilize earnings by reducing its reliance on Europe.“It would be healthy for us to sell about 30 percent of our cars outside Europe in the next five to 10 years,” said Luca de Meo, head of the mass-market brand. Making Seat vehicles in VW production facilities in Mexico could facilitate access to Central and South American markets, he added.
Argentina says demand for Swiss franc bonds exceeded amount sold
Argentine Finance Minister Luis Caputo said demand for Swiss franc bonds had exceeded the 400 million Swiss francs ($402.94 million) the country sold on Thursday, and that the timing of a return to the global bond markets would depend on the advice of banks. Argentina plans to sell $10 billion in bonds on the international market this year
Mexico ready to step away from NAFTA, says Foreign …
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