Breaking News, Latest News and Current News from OANN.com. Breaking news and video. Latest Current News: U.S., World, Entertainment, Health, Business, Technology, Politics, Sports.
By Julia Payne LONDON (Reuters) - Soaring prices of commodities from oil to wheat in the wake of Russia's invasion of Ukraine could cost the global ec.
2 Min Read
FILE PHOTO: Trafigura logo is pictured in the company entrance in Geneva March 11, 2012. REUTERS/Denis Balibouse/File Photo
BUENOS AIRES (Reuters) - Latin American oil company Vista Oil & Gas and Geneva-based Trafigura on Monday signed a deal to jointly develop 20 wells in Argentina’s Vaca Muerta shale oil deposit, the companies said in a statement.
The investment will be made in the Bajada del Palo block Oeste, where Vista already has 28 operational oil wells, the statement said.
Trafigura Argentina will invest around $75 million. Of that, $50 million will be used to develop the new wells and $25 million will be used to buy 20% of their eventual production, it added.