MercoPress. South Atlantic News Agency
YPF announces a billion barrels shale-oil discovery in Argentina
Oil company YPF confirmed Monday the finding of its biggest oil discovery in Argentina yet to the Buenos Aires stock exchange. The discovery was made in the Neuquén province and is equivalent to 927 million barrels. Read full article
Comments
Disclaimer & comment rulesEnglish pirates. envy?
Nov 08th, 2011 - 12:32 pm - Link - Report abuse 0ron - why would anyone be jealous? Good luck to Argentina with its oil and gas exploration and good luck to all industry sectors and companies like YPF. This kind of activity provides employment which is all good for the man on the street.
Nov 08th, 2011 - 12:54 pm - Link - Report abuse 0There are many areas for Argentina and the UK to work together on but you have cut yourselves out of any joint venture in the FI and it is continuing without you.
Unconventional E&P will have a role to play moving forward and we are doing this in the UK as well. Lets hope the cost of such production can be brought down sufficiently over time as 5000 bpd is a tiny amount compared to what can be extracted from conventional land or subsea reservoirs.
Well said Beef !
Nov 08th, 2011 - 03:09 pm - Link - Report abuse 0Thanks Artillero. The fact that the UK doesn't see Argentina as a competitor in anything other than football or rugby appears to be viewed with a degree of scepticism by some of the nationalist lunatics in Argentina. We all want the best for our country and our country's industries. This is the same if you are Argentine, British, Falkland Islander or Greek. So the best of luck to YPF.
Nov 08th, 2011 - 03:19 pm - Link - Report abuse 0The fact that ron posted “English pirates” tells us where any envy resides.
Don´t count your chickens before they hatch. I have said it before, and I will say it again. No country in the world has ever found a viable method of recovering oil from oil shale at a profit.
Nov 08th, 2011 - 03:31 pm - Link - Report abuse 0True enough Jerry, but I think the Estonians (and to a lesser extent the Chinese, Germans and the Israelis) do burn the Kerogen to produce electricity. (The Estonians, Brazilians and Chinese also use it to produce heavy oils. I think the Estonians also use it to resurface their roads.
Nov 08th, 2011 - 03:54 pm - Link - Report abuse 0In any case it's a useful chemical feedstock, and to agree with Beef, it's better known about and used for everyone's benefit than not known about at all.
2 Beef, “There are many areas for Argentina and the UK to work together”
Nov 08th, 2011 - 04:23 pm - Link - Report abuse 0Yes Beef, but first get the hell out of our islands.
http://www.bloomberg.com/news/2011-11-07/ypf-finds-six-times-more-shale-oil-than-estimated-at-loma-la-lata-field.html
Surely this discovery belongs to the Falkland Islanders under the principle of territorial integrity? As we all know, the Falkland Islanders were/are the first occupiers of the Falkland Islands. Whilst the so-called Argentines are genocidal, colonialist, imperialist Italian and Spanish invaders and occupiers.
Nov 08th, 2011 - 04:47 pm - Link - Report abuse 0Marcos - What islands? If you mean the FI, you tried force in 1982 and you failed, you have tried diplomacy at various points and it failed (and is continuing to fail). Now you have a choice, grow up and move on with your lives or try a legal option (but that is likely to fail as well, which you know otherwise you would have already gone down this route). We are not going anywhere because we don't have to, don't want to and you have no way of making us and we are there at the request of the Falkland Islanders.
Nov 08th, 2011 - 06:21 pm - Link - Report abuse 0Not interested in findings areas to collaborate then fine. We are not exactly short of offers.
7 Marcos Alejandro
Nov 08th, 2011 - 06:55 pm - Link - Report abuse 0such childish respose, will not get you any extra christmas presents-
this year, and you are not of the islands christmas card list,
see, once again you lose out, lol
“We are not exactly short of offers.” Or oil shale for that matter (proven reserves of 500 million metric tons, which going on the assumption of seven barrels of shale oil per metric ton of oil shale makes about 3.5 bbls).
Nov 09th, 2011 - 01:04 am - Link - Report abuse 0As Jerry pointed out above, it's not that people don't have oil shale from which to extract the shale oil, the problem is that no-one has found a way to make into petrol anywhere near as cheaply as crude oil can be.
“Other companies that are seeking to produce shale oil and gas in Neuquen province include Apache Corp., Exxon Mobil Corp., Americas Petrogas Inc., Total SA and Madalena Ventures Inc. ”
Nov 09th, 2011 - 03:37 am - Link - Report abuse 0http://www.bloomberg.com/news/2011-11-07/ypf-finds-six-times-more-shale-oil-than-estimated-at-loma-la-lata-field.html
It is noteworthy to mention that in addition to Argentina, there are many companies working in the area “Loma La Lata” in Neuquén province and also many or almost of them will participate and benefit in varying degrees of the success of this finding, let´seee who theý are and their origin:
1) Apache Corp = USA
2) Exxon Mobil Corp = USA
3) Americas Petrogas Inc. = Canada
4) Total SA = South Africa
5) Madalena Ventures Inc = Canada
It's a shame that being Argentina the largest British community in Latin America ...... they can´t take advantage of this and lost important business......and wasting millons and millons in Malvinas, an stolen place.
But the worst is that this seems to be only the beginning of a new LatinAmerican attitude against the United Kingdom, which is becoming less welcome on the continent and the business world by his attitude despicable.
Well Done Argentina.....again.
So Far - then why has Brazil signed a defense agreement with the UK? Is this evidence of the UK being less welcome? What about study scholarships. Strange that the UK will be either the first or second destination for these students.
Nov 09th, 2011 - 07:01 am - Link - Report abuse 0What money are we wasting in the FI?
Good luck to those companies. Let us hope they can actually take their profits with them.
It's a shame that being Argentina the largest British community in Latin America ...... they can´t take advantage of this and lost important business......and wasting millons and millons in Malvinas, an stolen place////////////////////////////////////////////////
Nov 09th, 2011 - 02:29 pm - Link - Report abuse 0yep what a sham, and the british are quaking in their boots,
the point means nothing, as in retrospect, the argentine goverment has and had no intention of sharing anything with the islanders, as you well know,, on the other hand, if argentina becomes a very rich nation, good luck to them, if you keep the wealth out of the hands of the polititions and greedy bosses, perhaps the ordinary argentines will see their wealth grow,, so their you go, with all that money why do you want a wind swept island 300 miles away from you,[anti british parhaps]
or just a femals obsesion with something she cannot have,
[the british falklands] enjoy your wealth, and dont worry abt the falklands, we will look after them .
Seemes like the press in Puerto
Nov 10th, 2011 - 09:37 pm - Link - Report abuse 0Argentino wants to distance itself from “English”Falklands after all they are a country in their own right all 2000 of them
Beef@13. Good post and to the point as always.
Nov 11th, 2011 - 10:22 pm - Link - Report abuse 0The problem for these companies SHOULD they ever make a profit CFK has already ruled that Multinationals MUST keep profits in Argentia and not send them abroad.
'Argentina's constant shifts in regulations, price controls, trade restrictions, capital controls and the doctoring of economic data has limited foreign direct investment in the country, with companies turning to Brazil, Chile, Colombia, Peru and Uruguay as safer bets.'
** Market News International - Buenos Aires **
Who in their right mind would even think of investing in Argentina now?
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!