Tecpetrol Awaits Economic Stability for Future Investments

Argentina's Tecpetrol is holding off on new market financing for increased investments until macroeconomic stability improves, according to CEO Ricardo Markous. The company, controlling nearly 15% of the nation's shale gas production, had previously secured financing at a 7.5% rate this year.

Argentina's prominent oil company, Tecpetrol, has decided to delay seeking new market financing for expanded investments until the country's macroeconomic conditions stabilize, CEO Ricardo Markous announced.

Markous disclosed at the Argentina Oil and Gas conference in Buenos Aires that Tecpetrol had earlier secured a market financing rate of 7.5% this year.

Currently controlling nearly 15% of Argentina's shale gas production, Tecpetrol's cautious approach highlights the challenges posed by economic fluctuations.

(With inputs from agencies.)