Argentina/Venezuela sign strategic cooperation agreement to boost energy
After attending the Mercosur extraordinary meeting in Brasilia, President Cristina Fernández and her Venezuelan counterpart, Hugo Chávez, signed a cooperation agreement to develop a strategic energy plan between state oil companies YPF and PDVSA.
The bilateral summit took place on Tuesday in the Argentine embassy in the Brazilian capital. After signing the accord, Cristina Fernández assured that Mercosur “should aspire to become the fifth global economy behind the US, China, Germany and Japan.”
The document ratifies the decision to identify schemes of strategic participation for the joint planning in all the value chain of hydrocarbons, both in Venezuela and in Argentina, so that based in complementation and association between the two state companies projects already implemented can be optimized and new ones launched.
For this purpose and to launch new projects “an Energy Cooperation Strategic Plan will be nominated to that closer links can target the companies to increase crude production in both countries”.
As part of this complementation YPF will be incorporated to the Ayacucho Areas 6 of the Orinocco shale deposits currently in production while PDVSA will join “oil and gas exploitation projects” in Argentina.
The two companies are expected to come up with a portfolio of projects in the form of a proposal with the objective of collecting funds for short, medium and long term execution of the different initiatives.
Likewise PDVSA will participate in petrochemical and technology transfer projects or in any other form of cooperation to which both sides agree. The follow up and execution of the different projects will be the responsibility of Venezuela’s Oil and Mines ministry and the Argentine Federal Planning Ministry.
Finally the agreement underlines the close friendship and cooperation links between the two countries and praises Argentina’s decision to take over 51% of YPF from Repsol. Likewise the incorporation of Venezuela to Mercosur opens the possibility of a wide range of strategic alliances in the energy sector.
Suggested Stories
-
May 20th 2013
Brazil trapped by Argentina and Venezuela economic mismanagements
-
May 15th 2013
Paraguay on Independence Day blasts Argentina and Brazil over “power resource exploitation”
-
May 17th 2013
Argentina’s ‘autarkic project’ worsens bilateral relations and multiplies problems
-
May 17th 2013
Argentine whitewash bill turning into ugly electoral debate
29 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
She's gross and looks like a whore!
Congratulations CFK you are now a puppet president to to Chavez.
Of course we are now seeing the real reason that Argentina were willing to disregard the rules of the Mercsour by incorporating a new nations without the approval of all permanent members.
In addition why is Mercscour (a trade alliance) now going to raise itself to the worlds 5th largest economy behind US, China, Germany and Japan? Germany is part of the EU so therefore if the trade alliance of Mercsour is allowed to be represneted as a economy this list should read:
USA ($15.09 trillion, EU ($12.63 trillion), China ($7.3 trillion), Japan ($5.87 trillion, then Mercsour ($2.42 trillion). Fair fair.
You don't get the hint, do you? Europe IS Germany :)
What a load of cod's wallop, there are 27 countries in the EU, Germany is one of them!!!!
Chavez is so bloated from the drugs he looks terrible I wonder if he was all jumped up on amphetamines to get him through this ceremony?
This is like comparing fish with bicycles.
Whilst I admit Germany has the largest GDP of the EU nations ($3.28 trillion) this only accounts for 25% of the EU's GDP ($12.63 trillion). That means the other 75% or the majority is comming from the other EU nations.
Your argument is as stupid as saying Mercsour is Brazil given that its gdp ($2.088 trillion) accounts for 86% of Mercsors gdp.
As a note these are based on the UN's figures from 2010 using the CIA world book or the IMF figures from 2011 the EU actualy has the worlds largest gdp suppasing the US by approxiamtly $2 trillion.
My argument is that you cannot on the one hand use the collective gdp of a trade alliance and compare it to indvidual countries who are also in trade alliances. This is quite clearly an attempt to modify the truth for political gain.
Short term boost and the reality wil set in, squabbling, back stabbing and then chaos will result. Brazil will end up bailing them all out.
This is meant to be a joining of economies based on sound business sense, not a love in for a cabal of out do date socialist dictatorships.
And all the RG's at that point will be carrying 1,000 and 5,000 peso notes of Bitch Botox just to buy milk and they will STILL insist she is God sent to argentina.
Once he has to stop the steroids and the supercharger is off, only then will we know for sure how long he has left.
Unfortunately, I have seen this many times before, so far they have all ended in tears.
This time I am looking forward to the result. Clip clop, clip clop, clip clop: the rider of the green horse cometh.
India suffers a power deficit in peak periods from 8 to 12 percent and power cuts of 8 hours a day are common in many parts of the country, and 300 millons Indians, or QUARTER OF THE POPULATION HAVE NO ACCESS TO ELECTRICITY AT ALL.
As you can see, my country Argentina is not so bad compare to India or many other countries with largest population such as the Philippines, Bangladesh, Thailand, Indonesia, etc.
The picture shows her sweet expression together with a perfect gentleman. Both of them looks healthy and well dressed.
Yes, I am an argentine citizen residing in Tempe, Arizona.
Sussie is my nickname in the US. That is why.
My real name is Susana Brown.
I see that when you are a leftist, standards of forward are set at absolute minimum
#2 sound like you are talking about Europe's austerity.
#3 I don't think this is help as much as it is unity and cohesion.
#4 perverts never disappoint anyone.
#5 lol have you seen the british queen. No body could ever even consider banging the biotch, I am inclined to believe that her kid was probably the first test tube baby.
#6 what?? Has europe created another dictator and murderer?? Wow
#7 europe and USA would know about pricks and sluts more then us, since it takes one to know one, I wouldn't know what one is like if I hadn't met conquered.
#8 you can be sure Venezuela will be drilling for oil in Malvinas Argentina as well as Venezuela eating our food stuff, or did you forget we are part of the same bloc now.
#9 I guess this is why some here call for the fuhrer. Most of them are sons of Europeans.
#11 yes Germany is the leading member who's capital is dictating the policy in all of Europe.
#13 lucky Chavez to have drugs right next door. Compared to USA who has to use billions of dollars in weapons and resources to secure the shipments.
#14 I guess they are comparing the values of their economy combined rather then keeping them separate from the bloc. More money means more trades.
#16 wow and you discovered that all by yourself?? Lol and what?? did you think latin America should benefit europe?? Why should we?? When Brazil is our brother and neighbor.
#17 I don't think milk will ever cost that much in Argentina, but in UK and USA the cost of food is sky rocketing undoubtedly, maybe that why Europe there is soo much austerity.
#18 saddly terrorism, war mongering, and death is all USA and UK can hope for against latin Americans. I wonder what did we do to this ungreatful bastards.
#20 you tell them SussieUS
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!