YPF S.A. (ADR)
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Argentina Will Not Become Venezuela
By Andrés Cardenal - June 6, 2013 | Tickers: CVX, YPF
Chevron (NYSE: CVX) is in advanced negotiations with Argentinean state owned YPF (NYSE: YPF) to develop Vaca Muerta basin, considered by Chevron the second largest reservoir of unconventional oil in the world. This looks like a potentially huge opportunity, but the risks are also enormous. It looks like Chevron may be making a bet on the Argentinean political and institutional outlook with this decision.
The opportunity
According to the US more »
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Latin America's Oil Industry: A Review
By Damian Illia - May 2, 2013 | Tickers: EC, PBR, YPF
Crude has lost $9 a barrel since the beginning of the month, mainly because of disappointing reports highlighting slower growth in China and still-sluggish growth in the U.S. and elsewhere, while oil supplies remained high. At the same time, investors sold off gold, silver and other commodities, and looked to the stock market for better returns. Last week, the stock market had a volatile week as many investors traded more »
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My Top Oil M&A Pick
By Federico Zaldua - April 28, 2013 | Tickers: PZE, PBR, YPF
As I have mentioned many times on this blogging platform, I think that, when buying equities as a minority shareholder, you should watch two things: sustainable cash dividends and the probability of a company being an M&A target. Here I describe the company that, to my understanding, holds huge possibilities of being acquired at a considerable premium.
The company I am talking about is the ex-Perez Companc Company, Petrobras more »
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The Natural Resource Countries
By Federico Zaldua - March 27, 2013 | Tickers: BHP, CNQ, EWA, EWC, YPF
Three countries are great natural resource plays: Canada, Australia, and Argentina. These three nations have many things in common: small populations relative to ample territory, huge mineral and hydrocarbon reserves, and very efficient agricultural industries, particularly Australia and Argentina. While Canada and Australia have achieved very high economic and social development, Argentina has under-performed the rest of the world since the 1970s. That said, several new global developments -- such as more »
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The Cow Is Alive: Argentina's Oil Industry
By Federico Zaldua - March 18, 2013 | Tickers: PZE, REPYY.PK, YPF
Argentina's energy sector, now dominated by the state through its 51% stake in YPF (NYSE: YPF), has not only been shocked by the government's seizure of YPF from Repsol (NASDAQOTH: REPYY.PK) of Spain almost a year ago, but also by huge shale oil/gas discoveries in the Patagonia Region. The Vaca Muerta (Dead Cow) formation in the province of Neuquen constitutes one of the biggest high quality shale more »
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Is Latin American Energy Worth the Risk?
By Joshua Bondy - February 7, 2013 | Tickers: EC, PBR, YPF
In the world of emerging-market investments, Latin America is commonly an after-thought. The region has many undeveloped fields, and nations who desperately want energy royalty payments. Without foreign assistance, many nations are simply unable to develop their resources. The continent is complex, but investors who are willing to examine and value the risks can find good deals.
A Quick History Lesson
The culture in Latin countries is very relational and more »
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Is It Time To Buy YPF?
By Federico Zaldua - December 17, 2012 | Tickers: CVX, XOM, YPF
This year, I was among the many investors that were caught by the state nationalization of YPF (NYSE: YPF). Repsol (the former YPF control group) was not the only affected by President Cristina Kirchner's decision. YPF's stock is down 63.6% in 2012. That said, the company, which is the biggest company in Argentina and the main energy producer and operator (it owns 30% of the downstream market more »
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Your Latin American Oil Watchlist
By Federico Zaldua - November 21, 2012 | Tickers: EC, PBR, YPF
In my array of posts about Latin American stocks I would like to make a special post on the biggest Latin American state-controlled oil companies that currently trade on the NYSE. The boards of these three companies are controlled by their respective government, all of them have world class reserves, are leaders in the local downstream market, and operate in high growth countries. The three companies are the Colombian Ecopetrol more »
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3 Strong Mid-Cap Buys
By Anh HOANG - November 6, 2012 | Tickers: CLF, PBI, YPF
Investors should be excited when they find attractive investment opportunities. They should start by utilizing screening to select stocks. Then, they should dig deeper into each opportunity to determine its attractiveness and suitability for their portfolios. This time, I am looking for cheap, but high growth mid-cap stocks, which are paying high dividend yields to shareholders. I use the Motley Fool CAPS screen with four main criteria: (1) the market more »
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The Price of Dividends
By Chris Hodge - November 5, 2012 | Tickers: CHRM, SCCO, WHX, YPF
Dividends are a crazy thing. In a lot of cases, what you see in the stock screener and what you get from the company aren't even the same thing. Beyond that, some of the highest yields come at the highest costs, and I'm not talking about the share price. This article is about some companies that pay high dividends but that may end up losing you money. Don more »
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Argentina: Where Risks and Opportunities Abound
By Andrés Cardenal - November 2, 2012 | Tickers: BMA, XOM, GGAL, PBR, YPF
Corporate CEOs, bankers, public functionaries, renowned economists and financial advisors, many of the most influential people in the Argentinean financial markets met to discuss the country´s perspectives for 2013 last Tuesday in a seminar organized by the specialized publication Bank Magazine. One thing is clear: Argentinean stocks are trading at extremely low valuation levels, and many opportunities look tempting.
On the other hand, that's pretty much the only more »
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Another Frontier Area May Yield Oil And Gas Riches
By Eric Fox - October 17, 2012 | Tickers: APA, BOR, CVX, FOGL, NBL, YPF
While the Falkland Islands are known mostly for a large population of sheep, this remote area in the south Atlantic is the latest frontier for energy companies exploring for oil and gas resources. Noble Energy (NYSE: NBL) is one of the operators targeting this area, and has assembled a deep inventory of prospects to help generate long term production and reserve growth for the company.
Exploration Program
Noble Energy devotes more »
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Watch Out For Nationalization!
By Callum Turcan - September 14, 2012 | Tickers: COP, XOM, HP, YPF
Watch out?
In this day and age, you need to be wary of getting your investment nationalized, not just at home but also around the world.
A perfect example
The best example of how this can ruin your day is with YPF (NYSE: YPF) and Repsol Argentina decided to seize control of 51% of YPF, which came entirely from Repsol's 57% stake. This caused both YPF and Repsol shares more »
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International Shale Plays Move Slowly Forward
By Eric Fox - September 5, 2012 | Tickers: APA, CVX, XOM, TLM, TOT, YPF
The exploration and development of international shale oil and natural gas plays are starting to gain momentum as many countries look with envy at the boom under way in the United States and hope to reduce dependence on energy imports. These resources will be exploited using similar techniques employed by operators active in domestic plays.
Argentina
Argentina is often mentioned as one of the more promising places outside North America more »
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YPF: Going the “Argenzuela” Way
By Andrés Cardenal - July 31, 2012 | Tickers: CVX, XOM, PBR, TOT, YPF
The term “Argenzuela” is used by Argentineans to describe the many similarities growing between the economic and political systems in Argentina and Venezuela. Similar policies are yielding similar results, unfortunately for investors in Argentinean companies and the country´s citizens.
In the picture above, published by the online edition of La Nacion newspaper, the influential Argentinean minister Julio de Vido seems to be having plenty of fun during a meeting more »
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Expect More Chinese Takeovers of Oil Companies
By Jonathan Yates - July 30, 2012 | Tickers: SNP, CEO, PTR, USO, YPF
There is a lot you can do with $3 trillion in foreign reserves, as China has banked.
One is to pay $15 billion for Nexen, a Canadian oil firm, as Cnooc Ltd (NYSE: CEO), a state-controlled oil and gas company from China, just did. As Beijing is sitting on, literally, trillions in export earnings and wants to expand its control of the world's energy resources, expect to see more more »
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How to Destroy an Economy
By Andrés Cardenal - July 8, 2012 | Tickers: BMA, BFR, GGAL, YPF |
When God was creating the different countries, he stopped for a minute to think about fairness. And then he said: “This country has all the advantages, abundant natural resources, talented people, no religious or racial conflicts and no natural disasters either. That's too much, let's put some Argentinean politicians there”
That old Argentinean joke is more representative about the country's economic reality now more than ever. Over more »
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Integral Argentinean Companies
By Mary Posey - June 22, 2012 | Tickers: MELI, TEO, YPF
Argentina is well known for both its mining potential and its intervening government. However, Argentina’s government has been working hard to loosen its grip and move away from strict and often crippling regulations. This has opened up the Argentinean market and a number of companies that provide good value for the long-term buyer. Below are three such companies, each operating in a different sector, that share in Argentina’s more »
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Latin America Ablaze
By Mary Posey - June 11, 2012 | Tickers: ABV, VALE, PBR, YPF
The prospect of continued interest rate reductions in Latin America’s largest economy has buoyed Brazilian stocks recently. Brazil’s inflation rate is now at its lowest level since September 2010. Brazil’s Finance Minister Guido Mantega said the current level of inflation provides “a degree of liberty to have more flexible monetary policy,” presumably to include lowering interest rates and expanding credit.
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Are Argentinean Companies at Risk of Being Expropriated?
By Andrés Cardenal - April 27, 2012 | Tickers: BMA, BFR, EDN, GGAL, YPF
The repercussions from the expropriation of YPF (NYSE: YPF) in Argentina are not over yet, as investors are still trying to find out what will happen to the new YPF under control of the Argentinean government. And, even worse, many are wondering of there could be more expropriations of listed companies in the future.
Those who are holing YPF shares are facing many problematic unanswered questions, some of which are more »
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