YPF to Lose Three Oil Licenses Representing 11% of Output

YPF SA, Argentina’s largest oil producer, may lose three more licenses for fields where it extracts 11 percent of its crude as provincial governments step up pressure on the company to boost investments.

Santa Cruz province is considering revoking the permits because YPF is unlikely to invest enough to reverse a decline in output, the provincial government said on its website, citing Governor Daniel Peralta. The province, which removed three concessions from YPF last month, hasn’t decided whether to revoke the other three or reject their renewal in 2015.