MercoPress. South Atlantic News Agency
YPF signs shale gas exploration deals with Pan American Energy and Bridas
Argentina’s nationalized oil and gas company YPF announced on Friday that Pan American Energy, PAE, would be investing 3.4bn dollars in gas production in the next five years while Bridas, belonging to the Bulgheroni brothers said it plans to invest 1.5bn dollars in the development of the non conventional shale deposits in Vaca Muerta. Read full article
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Disclaimer & comment rulesNot a reward/risk calculation I would make,unless it is a holding position awaiting a change of government.
Dec 29th, 2012 - 11:00 am - Link - Report abuse 0I would not touch anything in Argentina, especially to do with YPF.
Dec 29th, 2012 - 12:26 pm - Link - Report abuse 0They are not to be trusted.
I imagine anyone with any current o/g investments in Argentina is being threatened and intimidated into ponying up so cash for development.
Dec 29th, 2012 - 12:34 pm - Link - Report abuse 0It is less risky to throw in rather than having you or your family be killed, kidnapped, bankrupted or your company nationalized.
Rg ministers are known to negotiate with a gun on their desk.
Thugs
Wow. A 40% increase in road fuel prices in a year! Still, plenty of scope for more increases. Road fuel should be at least US$2.00 per litre. In a failing economy, people shouldn't own cars. And even if they do, they shouldn't be able to afford to go anywhere. They should be working. Sixteen hours a day. Keep them off the streets. On their knees in the fields. Cutting furrows with a small trowel. Then walking back to their hovels. Evenings can be spent making their clothes.
Dec 29th, 2012 - 01:28 pm - Link - Report abuse 0Pan American Energy is owned 60% by BP: 40% by Bridas.
Dec 29th, 2012 - 02:29 pm - Link - Report abuse 0Bridas Corporation is an 'independent' oil and gas holding company based in Argentina, 50% owned by China National Offshore Oil Corporation (Cnooc).
So to say “Bridas, belonging to the Bulgheroni brothers of Argentina” and “The Bulgheroni family controls Bridas Energy Holdings, BEH, and has a stake in Bridas Corp--a joint venture between BEH and Cnooc.” is stretching the truth.
The deal with Chevron seems somewhat similar.
But the stakes, commitments, profits, etc seem somewhat opaque.
So -
once the Chevron's appropriation of its total assets in Argentina is sorted (the Ecuador civil court case),
and once Unasur unblocks the ban on dealing with Chevron (the Brasil deepwater case),
and once the Argentinian Government pay the Spanish (the Repsol appropriation case),
YPE (the Argentinian state oil/gas comapany) are free to deal with
BP (the ongoing Bay of Mexico USA case)
and Cnooc (the Chinese 'private'/state oil/gas company).
By the way, what happened to Sinocorp?
I think all parties are sufficiently enmeshed by the Argentinian Government now that there will be no easy escape for any of them.
5 GeoffWard2
Dec 29th, 2012 - 03:00 pm - Link - Report abuse 0And not ONE of them saw the sucker punch coming.
I bet they will see the next one, due anytime now.
tree-bark soup anyone? it's nearly sunday when we get a few slices of shoe to go with it.
Dec 29th, 2012 - 04:16 pm - Link - Report abuse 0http://www.nowpublic.com/world/british-economy-has-become-dreadful-economy
Dec 29th, 2012 - 08:22 pm - Link - Report abuse 0half of British have considered leaving that hapless island... harsh times, harsh times.
Good news =)
Dec 29th, 2012 - 11:21 pm - Link - Report abuse 0Ah if only it were true Tobias which quite clearly it is not.
Dec 29th, 2012 - 11:33 pm - Link - Report abuse 0Sure you can troll to a higher standard than this? This is at the level of Marcus, think or British_Kretin.....
#8I don't think so many will leave (nor do I think Scotland will leave). I hope we stay and fight for a better Britain, one without Cameron's austerity
Dec 30th, 2012 - 12:46 am - Link - Report abuse 011 BK
Dec 30th, 2012 - 03:52 am - Link - Report abuse 0and where will the money come from??Argentina gives a lesson in over borrowing! pariah for 25-30 years,talk sense
The good thing about austerity is it prevents something called 'bloated civil service', where you DON'T get someone called blair, trying to hide lazy people into civil service jobs rather than trying to get them employed in the private sector where they'll be producing value for the economy. Then the private sector have to import lots of not-lazy people from abroad to do the value-creation.
Dec 30th, 2012 - 11:46 am - Link - Report abuse 0Then when we realise that Blair is actually stealing from the next-generation's pockets in order to balance his accounts and make it look like people have real jobs, we all find that the finances have gone to utter utter sh!t. Then utter utter lazy morons want to vote for the same people who cooked the books and engaged in intergenerational theft simply because they're lazy and want a not-job which doesn't actually deliver any value to the economy.
This is basically how Scotland works.
Democracy always breaks down like this ,people voting for themselves rather than the common good.
Dec 31st, 2012 - 07:58 am - Link - Report abuse 0Is this deal OK with Repsol?
Dec 31st, 2012 - 01:13 pm - Link - Report abuse 0#14 So whats the solution? Dictatorship?!
Dec 31st, 2012 - 03:32 pm - Link - Report abuse 0Nostrolldamus The 5th (#8)
Dec 31st, 2012 - 06:43 pm - Link - Report abuse 0'half of British have considered leaving that hapless island... harsh times, harsh times.'
Yes, with a wet year like 2012, I can understand it!
Most chose Spain and the sun, but 'hapless' better describes their destination, not their origin. So I think that sun is the key to the 'problem'.
I chose Brasil some years before. I have loved the country and continue to work towards its betterment. Sun as well!
I will like to remind everyone that money is a beast that adores money. So if Pan am or Chevron don't drill in Argentina, I am sure Venezuela, Brazil, Russia, Germany or China will be very much willing. Never underestimate the power of the beast. VIVA CRISTINA!
Dec 31st, 2012 - 07:49 pm - Link - Report abuse 0Commenting for this story is now closed.
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