UPDATE 1-Argentina’s YPF to resume Patagonia oil operations

Dec 18 (BestGrowthStock) – * Safety concerns forced YPF to
halt Patagonia operations

* YPF is Argentina’s largest energy company

(Adds quote, details, background)

BUENOS AIRES, Dec 18 (BestGrowthStock) – Argentine energy company
YPF will resume operations at its oil fields in the Patagonia
region after workers agreed to end a two-week-old strike, a
company source said early on Saturday.

The labour dispute forced YPF, a unit of Spain’s Repsol
, to halt operations at several sites in the
Patagonian provinces of Chubut and Santa Cruz, putting fuel
supplies at risk in the South American country. [ID:nN14293594]

“They will return to work tomorrow and we’ll resume
production in Chubut and Santa Cruz,” a company source told
Reuters, asking not to be identified.

State news agency Telam quoted YPF union sources as saying
that they would comply with a government request to suspend
the strike.

YPF’s senior employees in the two provinces had staged the
walkout to press for higher wages.

The company said violent incidents involving striking
workers had forced it to halt operations. The protesters
blockaded a crude oil storage facility used by other energy
companies, including U.S. Exxon Mobil’s local unit Esso, which
had to reduce refining activity.

About a third of the 250,000 barrels of oil per day
produced by YPF come from the fields affected by the dispute.

YPF is the largest energy company in Argentina.
(Reporting by Magdalena Morales; Writing by Eduardo Garcia;
Editing by Ron Popeski)

UPDATE 1-Argentina’s YPF to resume Patagonia oil operations