MercoPress. South Atlantic News Agency
Argentina picks a fight with Brazil oil giant Petrobras and revokes oil concession
Brazilian oil giant Petrobras assured that it has complied with all terms of its Argentine Patagonia Neuquén province oil exploitation contract, following provincial governor Jorge Sapag's announcement of the termination of the concession contract in Veta Escondida area. Read full article
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Disclaimer & comment rulesArgentina being a good neighbour again, eh? Meanwhile another $20 million makes its way unnoticed into Christina's Swiss bank account.
Apr 05th, 2012 - 03:58 pm - Link - Report abuse 0RGs are so stupid, they think because there is no oil pumping or if output has decreased there has been “no investment”. So they think in 2 yrs they can find, map, get a rig, drill and develop the pipelines! They seem to think you have a rig on the back of a truck and just start poking holes all over until you find something.
Apr 05th, 2012 - 04:31 pm - Link - Report abuse 0What a bunch of dummies. I hope they all freeze and learn to ride bikes and horses to work because they're never going to get anyone else to take over these concessions.
Someone will have to explain why when the RG's are shitting themselves about being a net oil importer that they then shut down all the oil wells.
Apr 05th, 2012 - 04:46 pm - Link - Report abuse 0Maybe I'm missing something here but I suspect not. I suspect its merely another branch of fucked up RG economics ie we're up shit creek so we'll self inflict more shit creek.
Nice also too see the RG's helping out a company of a supposed friend in their continent. Just how stupid are these people?
Do you think they might be planning to transfer the concessions to Venezuela based companies?
Apr 05th, 2012 - 04:53 pm - Link - Report abuse 0@4
Apr 05th, 2012 - 05:18 pm - Link - Report abuse 0china i think
I like venezuela and Chavez he really fought the 50 year old corrupt democracy and turned into a socialist endeavor where people are far more important then enterprises. Chavez can be the perfect candidate to help Argentina's president into a nationalization process, he did it in venezuela in 2001, and I will agree 100% that the Argentine parliament needs to get to work and earn their money by writing an agrarian reform and those who hold land and not put it to work will face huge taxes. Or expropiation.
Apr 05th, 2012 - 05:22 pm - Link - Report abuse 06, Either you are really dumb or have not read a newspaper in years. Chavez has destroyed Venezuela. Caracas is the MOST DANGEROUS CITY IN THE AMERICAS. People are starving! There is no one with a brain cell that thinks Bolivarian Socialism works. Even Cubans are becoming more capitalistic. While Ecuador, Venezuela and Bolivia are failing. ..oops left off Argentina.
Apr 05th, 2012 - 05:40 pm - Link - Report abuse 0Educate yourself so you don't look so retarded.
Argentina picks a fight with someone else - yes more isolation from a country run by facist comedians.
Apr 05th, 2012 - 06:09 pm - Link - Report abuse 0Petrobras opportunistically steps in when Argentina is in dire straits - 2002.
Apr 05th, 2012 - 07:08 pm - Link - Report abuse 0Argentina awards the long-term contract to the 'Petrobras Argentinia' subsidiary.
Argentina restricts the profitability to x cents in the dollar compared to world market prices, and restricts the profit movement out of the country.
Petrobras Argentina optimises its operations - just like Repsol, to suit the economic condition and economic constraints placed on its operation.
Argentina revokes its contract on one of its concessions.
The message is clear -
'Your contract is now just what WE say it is, no more, no less'.
'We will drive your operation to suit OUR needs, using every artifice at our disposal'.
'Take it or leave..'
Neuquen’s government:
Apr 05th, 2012 - 08:01 pm - Link - Report abuse 0“ will seek investors to develop those where licenses were revoked”
Any takers!!!
Or is the plan to import more in the future?
The Argentine government once again shows its political saavy by pissing off one of its allies, and the biggest economy in South America, Brazil. LOL
Apr 05th, 2012 - 08:39 pm - Link - Report abuse 0With friends like Argentina, you certainly don't need enemies.
LOOK OUT!!! The Pirates are coming......
Apr 05th, 2012 - 08:55 pm - Link - Report abuse 0And they are kicking out their only significant FDI.....I guess next will be the mining companies...
Apr 05th, 2012 - 08:55 pm - Link - Report abuse 0Brilliant!
The chances that Argentina's economy will enter a recession in the near term jumped above 85% in the closely followed monthly leading indicator published by Torcuato Di Tella University.
The odds of a recession in its February report rose from 65% in January. UTDT, as the university is known, noted the odds of a recession have held above 50% for six straight months.
“The results of the latest survey suggest that the slowdown in economic activity will continue in the coming months,” UTDT said in its February report, which was issued yesterday with economic data from that month.
Yankeeboy, I guess to 98% of the world Venezuela is a abject failure but to our friend pirat-hunter its a model to mimic.
Apr 05th, 2012 - 09:09 pm - Link - Report abuse 0Its all very comical really.
Xect, pirat-hunter is a classic example of people who are fooled 'all' of the time.
Apr 05th, 2012 - 09:25 pm - Link - Report abuse 0They are a lost cause, and have been totally brainwashed to believe that 2+2=5, and that black is white, up is down, and wrong is right.
Argentina - the land that idolises the philosophy of 1984. “imagine a boot stamping on a human face - forever.”
Let's see, a few weeks ago I told Axel and Ogara to look up the word STAGFLATION because that is what ARG is heading towards. I think they called me a liar and said everything was great and gave me a stat about how many cars they are producing.
Apr 05th, 2012 - 09:42 pm - Link - Report abuse 0Anyone want to bet where the peso will be by eoy? I'm thinking 10/1.
And just what did you all expect from Argentina, a repeat performance of course.......for your viewing pleasure:
Apr 05th, 2012 - 09:49 pm - Link - Report abuse 0www.youtube.com/watch?v=UyPC0SD0PGw
www.youtube.com/watch?v=zTBAjfgHLyk&feature=relmfu
www.youtube.com/watch?v=azwWSN2pukk
www.youtube.com/watch?v=iSvQw00SV-c
www.ripoffreport.com/government-worker/argentina-tourists-m/argentina-tourists-murdered-l-33f51.htm
www.ripoffreport.com/federal-government/cristina-kirchner/cristina-kirchner-cristina-kir-dc9b0.htm
Gracias Cristina y Nestor!!
Cristina at her best...
Apr 05th, 2012 - 10:23 pm - Link - Report abuse 0Venezuela is a far greater country then USA let's not forget venezuela was sending oil to the poor in USA while USA was killing Muslims for oil. I rather be ignorant or whatever the people here say but I am not racist against latinamericans or muslims, as people here are for they don't remember what wrong was done to other races, all they remember is we want oil and land from south America for free.
Apr 06th, 2012 - 02:13 pm - Link - Report abuse 0Many poor Americans in colder climes will doubtless be dismayed to hear that shortly after ringing in the New Year, Congress and the president have decided to cut 25% from the Low Income Home Energy Assistance Program, (LIHEAP) showing once again their preference to default on the needy and vulnerable rather than asking the most powerful and wealthy to make even the smallest sacrifices.
www.policymic.com/articles/3357/hugo-chavez-gives-heating-aid-to-u-s-poor-following-obama-budget-cuts
@19 Pirat-hunter, remember 2+2=5, black is white, up is down, wrong is right. Keep repeating that like a good little robot and 'the party' will reward you. :-p
Apr 07th, 2012 - 06:54 pm - Link - Report abuse 019 - The kircher Youth will reward you handsomly
Apr 09th, 2012 - 05:57 pm - Link - Report abuse 0The Humpty Dumpty saying is coming to Argentina within the next few months if it is not there already.
Apr 11th, 2012 - 07:30 pm - Link - Report abuse 0Commenting for this story is now closed.
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