BMI View: The deals forged between YPF and partners for exploration of Argentina’s unconventional plays have fuelled momentum in the country’s upstream sector. The government has also granted concessions and announced initiatives to attract capital into the upstream sector. YPF nonetheless is further wedged between a rock and a hard place with pressure to implement a multibillion dollar capex programme in a pricing environment driven by the government’s inflation priorities, which most recently prompted a freeze of fuel prices until October 2013. We look to the October 2013 Congressional election for guidance on the pivotal pricing regime. The government has …
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