BASFY - Argentinian oil workers go on strike

Argentina's largest oil and gas union, representing more than 24k workers, has walked off the job as demands for higher wages go unmet. The South American Nation produces ~700kb/d of oil, with the prized Vaca Muerta shale fields producing ~160kb/d. Industry sources indicate that drilling has stopped, as workers go on strike indefinitely in hopes of recouping wages and purchasing power lost to inflation. National champion YPF (NYSE:YPF) is the largest producer in Argentina, though Equinor (NYSE:EQNR), Shell (NYSE:SHEL), Exxon (NYSE:XOM), Chevron (NYSE:CVX), Total (NYSE:TTE) and Conoco (NYSE:COP) all operate in country. Vista Oil & Gas (NYSE:VIST) also recently acquired blocks from BASF (OTCQX:BASFY).

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Argentinian oil workers go on strike