MercoPress. South Atlantic News Agency
US oil companies interested in investing in YPF, but have their conditions…
At least four leading US oil corporations are interested in investing in Argentina’s nationalized YPF but are demanding a law that guarantees investments, direct export of oil and remittance of benefits. Read full article
Comments
Disclaimer & comment rules'Argentine government sources ..........'
Jul 19th, 2012 - 08:09 am - Link - Report abuse 0Move along people... move along..... nothing to see here.... move along.....
So the Americans want guarantees, want to be able to remit dividends and want to sell the oil at market price. Big surprise.
Jul 19th, 2012 - 09:16 am - Link - Report abuse 0If the Argentines agree to this then they'll be in a worse position than when they had Repsol as a majority shareholder.
Maybe they'll agree and just hope the increase in production will generate enough tax revenue to compensate.
NB What's to stop the illustrious Argentines from simply passing another law once the deal is struck?
I predict the Americans will all walk away in the end.
No gaurantees with Arg Gov, if they'll shaft one of their closest freinds and ally's then they won't think twice of shafting the Yanks who they hate as much as the Brits.
Jul 19th, 2012 - 09:32 am - Link - Report abuse 0Walk away America and let her stew in her own caused problems.
Like all the other BIG news stories imagined by the Ks this will not come to pass. They have a better chance building the bullet train from BA to Rosario or the tunnel through the Andes for the train to Chile. All talk and nothing behind it.
Jul 19th, 2012 - 12:02 pm - Link - Report abuse 0Plus on the Arg Ambassador, people can't stand him they think his is stupid and/or crazy or both nobody is going to make a deal with him.
There was a story earlier in the week that YPF was going to build a new refinery for U$7B,how? Where does the U$ come from? Equipment? etc etc etc.
Liars and Losers.
These sort of gurantees will never come. It would involve the CFK administration admitting that what it did to YPF was bad for international investment. What the Americans want is a system which will allow them to do fair and open buisness, i.e. we will inveest but we are in for the invcestment but because we love your country and we do want a return not all our money to be reinvested so you can hold power.
Jul 19th, 2012 - 12:56 pm - Link - Report abuse 0i think CFK will be fuming over these demands and will have to look else where for the investment. We are alreayd seeing mining compnaies (Canadian and US) here in SA beggining to shelve projects as they do not believe Argentine is a positive buisness environment. Word of this will get to the oil compnaies who will not be intrested.
@4 Yankeeboy
Jul 19th, 2012 - 02:25 pm - Link - Report abuse 0You should be grateful, their ambassador to you is stupid and unobtrusive, so you can just ignore him.
Ours neatly does the double, of stupid and inappropriately intrusive.
I'm sure if we didn't have a collectively odd sense of humour then we'd PNG her out of the country rather than laugh at her and her ambush diplomacy...
6. If he bothered too many people we would send him home. You should see how we do this too. It is designed to humiliate the Ambassador and the country. The Secret Service goes to the Ambassadors residence and 2-or 3 AM gets the whole family and servants up, lets them pack 1 bag, then they get escorted to the airport and out of the country.
Jul 19th, 2012 - 02:30 pm - Link - Report abuse 0Love it!
How important are these ambassadors when their boss is the mightily impressive Hector Timmerman?
Jul 19th, 2012 - 02:34 pm - Link - Report abuse 0Like I have said before: where there is oil, investment will follow, even in Argentina. The oil industry operates in much more difficult countries than Argentina. Repsol/Spain was a soft target for an opportunistic mugging.
Jul 19th, 2012 - 02:35 pm - Link - Report abuse 0Although I don’t like to defend CFK, her theft of approx US$10 billion worth of Repsol is not too dissimilar to Obama’s daylight mugging of BP shareholders to the tune of US$20 billion. Admittedly BP’s error was highly visible, but Obama’s confiscation of funds was more than double the cost of cleanup/compensation. His kicking of a foreign company was as much for domestic voter consumption as CFKs requisition of Repsol.
@9
Jul 19th, 2012 - 02:55 pm - Link - Report abuse 0However, oil companies will only invest if the projected profits are greater than the exposed risk. With the current Argentine government there is a risk that investors would put up the capital (like all projects of this kind the riskest time is at the begining) for the Argentine government to then sieze the companies assets or with investment in YPF refuse to pay any dividens or profits back to investors and instead use these to reinvest. This is ok if the companies view this reinvestment as a long term stradegy but the falling economy in Argentina a long perioid of time means much much larger risks and so the profits have to be much much larger to compensate. In the short term I do not belive they will get the investment they need. in the long term I see the USA and Europe using politcal pressure to try and get the people to install a pro US/European regime which will be friendly to buisness.
Argentina had laws that said,no seizure without parliamentary approval first,no seizure without payment first.much good they did
Jul 20th, 2012 - 11:48 pm - Link - Report abuse 0Up to a few days ago according to all our friends here in mercopress had us convinced Argentina was doomed and nobody was going to invest in YPF, and o surprise USA wants to invest in YPF what will all this ignorant bloggers come to tell us next??? And now US companies want a piece of the cake while I wonder why would Argentine's share it when from development to logistics to economics There is so much for Argentina to gain if they went at it alone, the so called third world needs to break free from the yolk. Servitude is merely existence, Living is being able to collect the fruit of your sacrifice. Thanks uncle Sam but (“NO”) thanks.
Jul 22nd, 2012 - 06:12 pm - Link - Report abuse 0These “conditions” seem outrageous, but its interesting that Repsol's campaign isn't working. Other companies may see an opportunity to invest by placing less punitive “conditions”...
Jul 23rd, 2012 - 11:58 am - Link - Report abuse 0“There is also abundant information on opportunities to develop alternative energies in Argentina”
Excellent
#6 Well she's Presidential material (if you mean Castro), don't know about Arguello, maybe he might be FM (wasn't Timmerman the US Ambassador?)
#7 You really are an unpleasant little man
#9 That was one of the few times I felt like defending the USA, against the ridiculous right wing Obama bashing in parts of the British media which was effectively pro-oilspill!
I just love how the Argentine populous can fall this sort of barefaced torture of facts. No a single one of those companies has expressed an interest, let alone a willingness, to invest in YPF. They have simply agreed to meet representatives.
Jul 25th, 2012 - 08:57 am - Link - Report abuse 0Just your standard bullshit Argentine propaganda that feeds the ignorant masses.
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