Overview
- Paolo Rocca described the legislative outcome as a turning point that changed investors’ perception of Argentina’s capacity to advance the government’s reform program.
- He said markets rallied with about a 30% jump in equities and a near 400‑basis‑point drop in sovereign risk, encouraging financiers to fund projects.
- Tecpetrol issued a $750 million five‑year bond at 7.625% to fund the Los Toldos II Este project in Vaca Muerta, part of a planned $2.5 billion development program.
- Rocca said oil companies should gain broader access to external capital and noted YPF could seek funding in the coming days, with activity expected to build into 2026–2027.
- Tenaris reported Q3 2025 revenue of $2.978 billion, up 2% year over year, and net income of $453 million, down 1%, citing softer pricing and lower drilling in key markets.