MercoPress. South Atlantic News Agency
YPF announces massive exploration program and calls on private investors
Argentina’s nationalized oil and gas corporation YPF announced it has plans to drill 250 wells in the next five years to further advance the country’s “hydrocarbons frontier”. During a presentation at a posh hotel in Buenos Aires under the heading of “Argentine Exploration Plan”, YPF CEO Miguel Galuccio called on investors to trust him and support the plan. Read full article
Comments
Disclaimer & comment rulesSo in other words, YPF want to drill 250 wells, but don't have the capital to do it.
Aug 24th, 2012 - 06:34 am - Link - Report abuse 0So since's it's nationalisation no international private firms or investors have touched it with a barge pole, even CFK's new friend the Chinese wouldn't touch it, and Venezula also hasn't got enough money to invest.
So CFK has now turned to the private Argentine citizen to try and get them to front up the money.
But not once have they looked at why no one is willing to invest. Why should anyone give Argentina money, when their profits from the venture would ever be nothing or next to nothing.
To all you Argentines who want to invest your money, buy shares in the Falklands Oil and Gas company, because there the future looks bright, and you get to keep the profits and not have it stolen by the government.
Where are all of the posters stating categorically China and other such countries would invest?
Aug 24th, 2012 - 07:23 am - Link - Report abuse 0China and Russia will only invest in something they have high confidence in getting a high return and it seems they obviously lack confidence in getting that from YPF rather unsurprisingly.
Seems they've run out of money once more....
You'll see, haters, these difficulties are not insurmountable, YPF and Cristina are already doing much better than you predicted =)
Aug 24th, 2012 - 08:23 am - Link - Report abuse 0@3
Aug 24th, 2012 - 09:02 am - Link - Report abuse 0I'm not so sure. Announcing that you are going to do something is a far cry from actually doing. I don’t know if you saw it but YPF released a statement which said the productivity/production for the first part of the year was up but then slumped around the beginning of June and hasn’t risen. If you’ll remember, YPF was expropriated around that time. Since then they haven’t had the capital or tools to increase production. You can see this from the following statement from Galuccio who has a good previous record and is respected:
“We need both strategic and logistics partners capable of providing the necessary equipment, plus financial partners.”
In business speak this says “we have neither the necessary equipment, nor the cash to buy it or cash with which to operate properly.” This is quite an admission for someone heading up the company and the message has changed since the expropriation and the endless roadshows which they have undertaken to get people to invest. Unfortunately quite a few institutional investors have laughed out loud at their business plan and left mid presentation as their plan won’t work as it relies on private capital subsidising YPF with a minimal chance of profits.
So BK, can you explain, with reference to facts, how it is doing so much better.
#B_K,
Aug 24th, 2012 - 09:13 am - Link - Report abuse 0Give it away, mate. She's a lost cause. There must be lots of Scottish Lassies where you live that are far prettier than CFK.
Argentina is starting to sound like a cross between “1984” and “Animal Farm” with each passing day.
Aug 24th, 2012 - 09:23 am - Link - Report abuse 0#5
Aug 24th, 2012 - 10:00 am - Link - Report abuse 0What makes you think he is Scottish ? Just because he makes hints.
I have asked him time and time again to tell me the school he went to, approx. where he lives or any other details that would convince me of his origin. Studiously ignored ! I am quite happy to tell him where I live - except for actual street address and email.
Until he reveals anything of proof, he is an Argentinian and his postings should be received in that context.
As to your remarks about prettier lassies, I would add prettier 70 year old women. Botox and collagen are not fashionable here !
@3
Aug 24th, 2012 - 10:45 am - Link - Report abuse 0YPF needs consultancy advice from the FIG, or to buy shares in FOG as @1 has advised.
In fact if you ask FOG nicely they will help Argentina get investment for their oil development.
Message= If Argentina continues to be aggressive to the FI the islanders will prosper regardless and bypass Arg from their equation.
If Argentina has the sense to pay the Islands as consultants=FIG will show you how to run a country properly, where none of its citizens are poor, have a good income and quality of life, and how to make the most of resources and become wealthy, and how to get external investment.
Simple really.
Argentina,Trust and YPF all in the same sentence, you having a laugh whos going to fall for that.
Aug 24th, 2012 - 10:53 am - Link - Report abuse 0@3 YPF-no investment, Kirchner-sympathy illness, oh yeah doing a wonderful job much better than i predicted keep up the outstanding work im sure your people appreciate her contribution.
maybe just maybe theres far too many conditions for investors to accept, putting the obvious insecurity of investment in Argentina to one side, my guess is argentina will push investors to agree for drilling beyond its borders causing a conflict with not only the UK but wider afield, who wants to invest in that? not forgetting a company that the Argentines manic government has sole control, and will steal shares in a blink of an eye, yet again.
“2D seismic surveying” Wow, that's gonna attract many investors, i can see them all now, frantically searching for their chequebooks.
Aug 24th, 2012 - 11:19 am - Link - Report abuse 0I also believe that BK is Scottish, one of them who believes that scotland should be independent, and is a great friend to Argentine posters everywhere.
After stealing peoples pensions, defaulting on 90 billion and now begging the average Argentinian to dig up their hard earned dollars to bank roll Kirchner's get rich quick plan, this getting like a remake for Dallas,
Aug 24th, 2012 - 11:29 am - Link - Report abuse 0@10 - A.J.Rimmer
Aug 24th, 2012 - 11:41 am - Link - Report abuse 0I have to agree with Clyde15 on this, BK is an Argentine troll although I concede that he may well live in the UK. Even the most rabid Scottish nationalist I've met wouldn't give the Argentinians the time of day, let alone admire them the way BK does.
The battle of Tumbledown is still firmly fixed in the Scottish pysche.
A magnificent victory and a tough battle well fought by the Scots Guards, but they still remember the cost of that victory was paid in Scottish blood.
It's just like when the Argentines tried to get the Welsh Assembly and Plaid Crymu to side with them. Immediately the hands went up and it was 'remember the RFA Sir Galahad' and 'remember the Welsh Guards'.
The Falklands were liberated and the cost was British blood. The Argentinians don't understand that British means Scottish, Welsh, English and Irish. All 4 nations of the UK liberated the Falklands, not just the English and all 4 nations are willing to keep the Falklands free of Argentine oppression.
However, enough of that, back to the thread.
BK is deluded. We all said that the Argentinians wouldn't find anyone to invest. Last month, the Venezulans were riding to their rescue, but now they realise that they don't have the capital either.
So now they are practically begging Argentine citizens to invest in YPF. A company were all the profits go directly into the governments pockets and not to the investors.
But hey, that's CFK miracle economic model at work.
YPF have announced 250 wells in next 5 years. Wishing wells more like.
Aug 24th, 2012 - 12:14 pm - Link - Report abuse 0Argentina has smashed spain's investment prospects, Repsol's share values, any chance of foreign investment but at least Argentina gets to keep its oil reserves... in the ground.
@7 Clyde15,
Aug 24th, 2012 - 12:17 pm - Link - Report abuse 0You may well be right about B_K.
l had not given it too much thought. l disagree with most of his posts but he said that he was Scottish & l had no reason to doubt him/her.
Yes he probably is Argentine, although l had pictured him as an old Scottish communist infatuated with a younger woman.
Although shes not that young!
B.K. is obviously an Argentine troll and not a very good one. Analyze his posts and you will see that he just regurgitates whatever praise is being given towards his idol. Who would judge a leader based on beauty, or in this case a perception of beauty? Where would the careers of Maggie T., Golda Meir, Mother Theresa, Madeline Albright, Angela Merkel or Hilary Clinton be if they were based on looks? Argentines have a nasty habit of idolizing perceived beauty, i.e. Evita, CFK, standing there with their eyes wide and their mouths agape as they are being robbed blind. Humorous if it weren't so sad!
Aug 24th, 2012 - 12:40 pm - Link - Report abuse 0I think Blind_Scottie_Kirchnerist may be living in Scotland, but may be of Argentine descent.
Aug 24th, 2012 - 12:45 pm - Link - Report abuse 0His posts are far too erdudite to be LatAm educated.
Just a pity he is a bastard traitor.
The only Argentine that would invest in YPF would have to be:
Aug 24th, 2012 - 02:14 pm - Link - Report abuse 01) A total idiot.
2) A rabid kirchnerist.
3) A totally idiotic nationalist.
4) A totally idiotic patriot.
The government cap on the wellhead price of crude is US$42 pb, which is aproximately 50% of the international WH price. Exploration and exploitation costs would be something in the range of US$38 - US$40 pb, so the deal would be practically break-even except that you have to factor in taxes.
Mr. Galuccio, I suggest you go back to Schlumberger which is a real oil company and would welcome you with open arms. Yuo're wasting your time with YPF!!!!!
The rumors of his resignation in the past were probably real but they coerced....I mean convinced him to stay.
Aug 24th, 2012 - 02:45 pm - Link - Report abuse 0Wow, I have to say that I disagree with everyone on this thread on both topics:
Aug 24th, 2012 - 03:08 pm - Link - Report abuse 01) YPF will get investment
2) BK is Scottish
Oh Lord that means I agree with BK...someone please help me out here!
On point 1, stopping investment getting to oil is like stopping gravity. As oil leaks out of a million leaky well, investment will leak to YPF. Welsh Wizard, don’t get too excited about the leaks or leeks. CFK will have to “lower her pants” as we say here (what a dreadful image), but money follows oil like BK follows CFK.
On point 2: BK is Scottish. I can remember once he replied to a post of mine about Brazil and made reference to Scotland’s 2-1 defeat in the opening match of the 1998 world cup. Who else would remember that!
To understand his position you only need remember that he is of the George Galloway clan, so everything the Anglophone does is bad, everything Israel does is bad, choice in society is bad. With these 3 points you can understand his world. Thankfully it is not a real place.
As the British are known for their practical jokes, perhaps BK tells exactly opposite of what he really thinks.
Aug 24th, 2012 - 03:33 pm - Link - Report abuse 0If YPF gets investments, the concessions and backtracks that Argentina will make make will have made the expropriation of YPF from Repsol pointless. But than again most everything Argentina does is like that.
Aug 24th, 2012 - 03:39 pm - Link - Report abuse 0Unless they setup some type of sinking funding via a third party independent banker, equal to the amount of investment, I don't see it happening. They are screwing with China as it is now and Sinopec is about to shutoff all production.
Oil companies may flock to drops of oil like sharks to seals, but with the risks Argentina poses based on their history toward business.......unlikely. It will take more than written guarantees as Argentina contracts are as meaningful as their peso, it is good to wipe your ass with.....nothing more.
Hi Guys, can anyone tell me the best area to change money in BA (Av Florida....?) and also what the name for the black market exchange rate is in argentiona. Taking $ with me so want to change them for pesos but at the commercial rate. Cheers
Aug 24th, 2012 - 03:42 pm - Link - Report abuse 0lol use greenbacks.....they'll love for long time
Aug 24th, 2012 - 04:25 pm - Link - Report abuse 0Why would anybody invest in Argentina?
Aug 24th, 2012 - 05:14 pm - Link - Report abuse 0If it goes bad you lose
If it goes well you lose because it will get Nationalised at zero compensation.
Nah best to stick with investing in the Falkland islands. A much safer bet.
I hardly can wait to reside in Km.3, YPF,... and start working again...and eat my daily broiled merluza, mashed potatoes and salads and flan for dessert!...
Aug 24th, 2012 - 06:27 pm - Link - Report abuse 0No one that is concerned about capital preservation will invest in Argentina. Investing is all about the evaluation of risk and reward, but Argentina risk is out of this world. When the oil wells run dry, the electricity is not far behind. They are lucky they are coming out of the winter months.
Aug 24th, 2012 - 06:48 pm - Link - Report abuse 0@26
Aug 24th, 2012 - 07:14 pm - Link - Report abuse 0Fear we all here... in the USA have...if the gasoline price increase..
who can afford to drive...
the electricity cost are high costing $500 per month
gasoline keeps costing the consumer to pay high price for food
to the fact that only the wealthy can afford to eat well,
as we all can see, hard times ahead are for all of us,
be sure to tight your belt as soon as you can!
#27 that is your only purpose in like is to lie? If you spend $500 a month in electricity, you must be running a meth lab, or running your a/c 24/7 with all your lights on. Electricity costs 11 cents a kilowatt hour natialaverage and 8.8 cents in Arizonia. As for gas the national average is 3.73 a gallon and 3.51 in Arizonia.
Aug 24th, 2012 - 07:45 pm - Link - Report abuse 0I guess you are there to tell SA's how bad it is and they will never know the difference.
I can't do anything about your illegal status and I definitely can't fix stupid (don't be sad), bet I can report your meth lab to the sheriff's dept.
@27
Aug 24th, 2012 - 08:15 pm - Link - Report abuse 0This is a fact like it or not...
I sold my 18oo sq foot 7 rooms house with swiming pool and jacuzzi in Tucson Arizona because I cannot longer afford to pay the electric bill!....
Referenced to whatever claims you have against me, go head, ...what are you waiting for....remember soon I am moving back to my country to enjoy a better life with good quality food.
I hope you enjoy your last years!
Don't let the border hit you in the ass on the way out. I will be visiting Buenos Aires soon (in laws). My greenbacks will surely go a looooooooooooooog way by then
Aug 24th, 2012 - 08:26 pm - Link - Report abuse 022 & 30 - The ¨blue¨rate is for commerce and “black” is still the black. And do not expect to get bargains, even with dollars. Prices in pesos jump so much the dollars will not get you too much today. And stay away from Florida; the cops are shutting down “vendors” there at a rapid rate.
Aug 24th, 2012 - 09:18 pm - Link - Report abuse 0WOW that was a fast response to Mr. Galluccios' call. Do I hear the lovely $ound of drilling? And it's only the beginning.
Aug 24th, 2012 - 09:21 pm - Link - Report abuse 0http://www.washingtonpost.com/business/ypf-chevron-executives-move-toward-strategic-accord-on-argentine-shale-oil-and-gas/2012/08/24/50b98934-ee07-11e1-b624-99dee49d8d67_story.html
32. I wouldn't be celebrating just yet. The conditions that Chevron and all oil companies have asked for CFK already denied. They want market rate for oil sales and an escrow set up outside of Argentina before they even begin. Where do you think the U$ in escrow is going to come from Anses, BCRA both have already be bled dry? Plus there is little problem with the bondholders going after all RG assets.
Aug 24th, 2012 - 09:54 pm - Link - Report abuse 0They may be able to work it out eventually or gosh sakes they deal with scumbag dictators all the time.
Yes Yankeeboy you are right. The Argies will not be blackmailed again. They own the resources and thay set the conditions.
Aug 24th, 2012 - 10:07 pm - Link - Report abuse 0Yankeeboy is obviously in a state of denial. I Think a little bit teased by the “sad news”. With Mr . Galuccio visiting China and Asia next month Chevron obviously backtracked on it's claims and sees that light, that this train ain't passing through this station again. Let's move on lads, make way for the expensive drilling equipment. DRILL, DRILL, DRILL!
Lol I think it's funny that RGs are counting the feathers on the chicks and they don't even have eggs to hatch. Chevron would be irresponsible to it's stockholders if they did not listen to a sells pitch.
Aug 24th, 2012 - 10:50 pm - Link - Report abuse 0I don't see it happening without the US escrow in a non related RG banking system. That would be a fiduciary irresponsibility to it's stockholders. RGs go begging for DEEP POCKETS and think they will dictate terms. As for China, RG better take care of Sinopec before the travel to China.
Chevron Texaco has a great shipping fleet though.
I see that Captain Poppy has also been touched.
Aug 24th, 2012 - 11:01 pm - Link - Report abuse 0“Chevron Texaco has a great shipping fleet though.”
Won’t need’em. YPF will certainly bring great benefits to the Argentine shipbuilding industry. Will need a bunch of those tankers like the ones being built in Rio Santiago for Venezuela. http://www.youtube.com/watch?v=wMCdRubqPNI
@30
Aug 24th, 2012 - 11:05 pm - Link - Report abuse 0Hey...I am single...is more fun...Mr.Conqueror
Why don't YOU dump your 'inlaws” and start feeling better
Comment removed by the editor.
Aug 24th, 2012 - 11:44 pm - Link - Report abuse 0One can drill any place one wants. But it does not mean that anything will be found.
Aug 24th, 2012 - 11:57 pm - Link - Report abuse 0Chevron was actually expected to drill two exploratory wells in Vaca Muerta in the El Trapia field. Last year they were granyed an extension until 2032, but that may have changed in the most recent encounter with YPF.
Aug 25th, 2012 - 12:13 am - Link - Report abuse 0Come on Mercop, the news is all over the place now.
Aug 25th, 2012 - 12:28 am - Link - Report abuse 0“Chevron discuss shared Argentina strategies”
http://news.yahoo.com/ypf-chevron-discuss-shared-argentina-strategies-162048016--finance.html
And unless Argentina changes their position on exporting oil, don't hold you breath. Texaco is a publicly traded corporation and owes it's allegiance to the stockholder, not Argentina. Texaco will be negligent to make a deal at less than market selling price.
Aug 25th, 2012 - 12:45 am - Link - Report abuse 0But RG's need to grasp at straws. Right ProRG S American?
22 Welsh Wizard (#) If you speak Spanish no problem finding a “cueva”, the black market for some unknown reason is referred to as “Blue”. The quotations for the Blue can be found in the link below. The seller rate today was 6.40
Aug 25th, 2012 - 02:28 am - Link - Report abuse 0http://www.dolaraldia.com/cotizaciondolarhoy/
Can someone help me out please? I am too bored to read all of the posts on here but are SussieUS, Sussana Brown and ProRG_American all the same person?
Aug 25th, 2012 - 04:56 am - Link - Report abuse 0Still confused “Joe” Kelper?
Aug 25th, 2012 - 05:06 am - Link - Report abuse 0May be she is your beloved friend Mike.
(22) Welsh Wizard
Aug 25th, 2012 - 05:53 am - Link - Report abuse 01) It is not “Avenida Florida” it’s “Calle Florida”
2) You can get a much better “Run for your Money” at Fuerte Apache…..
Any taxi driver will be happy to drive you in…. ;-)
3) Tell the first hoodies you’ll encounter that you’re from Liverpool and you are after some “Black Market” action……..
Easy……………..
dictatorship daily news:
Aug 25th, 2012 - 11:55 am - Link - Report abuse 0* real estate sales down 46% this time last year in Beunos Aires
*Argentine Governer Scioli wants to charge extra for more expensive cars and houses
* mexico adds complaint to WTO over argentine protectionism
* Argentina doubles up tax burdening importing companies
* basic food basket measure “useless” by INDEC director, Ana Maria Edwin who in 2007 removed EPH director and its staff for critising INDEC data collecting.
* Argentine president defends militarising school youth and prisoners, giving
“El Gaucho” fanatsy speech. in preparation for what?
* argentina to allow 16 year olds and foreigners to vote.
* protest against Abal Medina in cordoba turns violent
*cabinet chief Abal Medina & President laughed at in conference for businessman
http://www.ieco.clarin.com/economia/Gobierno-busco-mostrarse-amigable-empresarios_0_761323916.html
* Argentina to raise taxes on dollar transactions
* Chavez threats of civil war if not re-elected
* Argentine Timerman supports ecuadors rapist bid.
I wonder what CKF thinks Chevron's “social plank” (obligation) will be? These stupid Rgs have no idea how to run a country.
Aug 25th, 2012 - 01:19 pm - Link - Report abuse 0The apathy of the citizens is astounding! What is the breaking point 10/1 or getting paid in Patacones? There is a trigger I guess I just need a bit more time to see what it is..
Argentines celebrating they have an investor in YFP is like celebrating Dewey beats Truman
Aug 25th, 2012 - 03:26 pm - Link - Report abuse 0(22) Welsh Wizard. Think is having some fun and baiting you; first point is correct but unless you're armed wouldn't try the next two suggestions. The concierge at the hotel no doubt will help out, but make sure you know the rate of exchange (Blue) before approaching him/her.
Aug 25th, 2012 - 04:05 pm - Link - Report abuse 049. You can bet Chevron never did an interview with AP! This is yet another Nestor Kirchner Dam, maybe after 4 announcements they will actually build it or wait was that the bullet train to Rosario? Or wait was that the BA World Trade Ctr tallest bldg in SA built on reclaimed land in RDP. Or wait...or wait...or wait.
Aug 25th, 2012 - 04:30 pm - Link - Report abuse 0Gads they are so pathetic.
“The apathy of the citizens is astounding!”
Aug 25th, 2012 - 05:03 pm - Link - Report abuse 0Seriously, not even an amoeba takes you seriously with comments like this.
You come from a country where there have been at least a half-hundred mass shootings in the last 3 months, with HUNDREDS dead... and not one public protest, not one person in government held responsible, not a single citizen led action, march, not one official political action. NOTHING.
The supine, phlegmatic indifference and apathy is borderline criminal. What a pathetic excuse for a society.
But, hey, now with the new summer package being offered in the travel agencies, one may at least profit from such utter ineptitude to deal with such an obvious societal problem: it's called the “Shootout round North America”... You ONLY get to visit the locations where a mass shooting was commited.
The tour costs a fortune and last 6 months... it visits every single state and all major cities, I get to go everywhere, from the Empire State Building to the largest mall, to the top universities, it is the most comprehensive package on Earth.
I see that in the realm of Brits.....Falklands Islands seems to have a lot of promise in the drilling arena......great news for the Falklands.....I wish them the best and hope they bath in the black gold.
Aug 25th, 2012 - 05:20 pm - Link - Report abuse 0In other oil news, what a tragedy at Venezula's largest refinement at Amuay.....24 dead God rest their souls. I hate seeing anyone die from only doing their job.
This translates into a million barrels a day out of production. With Chubby Chavo already strapped for cash (he is rationing petro) this certainly will further crimp his spending and help to his mercosur serfs.
However I see this as being a rally call that the evil gringos are coming for him. Of course if they had individual freedom of thought they would realize that cutting of oil would be the last thing we do.
Back to the article, I see this explosive spiking oil prices. I wonder how this will translate in Chevron negotiations with Argentina/YFP with capped barral prices at below market
52
Aug 25th, 2012 - 05:57 pm - Link - Report abuse 0WTF has another American shooting got to do with this story? Nothing.
Toby, Just to go Bajo Flores and tell me how many Police there are with machine guns on every corner...
Aug 25th, 2012 - 06:15 pm - Link - Report abuse 0Count them and get back with me.
55 Yankeeboy
Aug 25th, 2012 - 07:51 pm - Link - Report abuse 0How many? Sounds pretty dangerous.
As for this story though. If Argentina can manage to exploit loads more of their natural resources, all the better. I don't wish them harm, I just wish they'd leave me and my country alone.
@56 Joe
Aug 25th, 2012 - 10:21 pm - Link - Report abuse 0Absolutely - I have nothing against them personally but this fantasy that they pursue helps no-one. I notice it has all gone quiet on that front - am I tempting fate?
Toby, Do a little study find out how many Rg are killed at soccer matches and then let me know if that # is more or less % wise than what you are screeching about compared to the USA population.
Aug 25th, 2012 - 11:21 pm - Link - Report abuse 0I am waiting.
Pathetic loser.
57 Steveu
Aug 26th, 2012 - 06:20 am - Link - Report abuse 0Yes, you're right. It HAS gone quite again. Effectively they are leaving us alone. Even at the height of their BS in the last 12 months we felt very little tangible effect. The intangibles were greater but how does that saying about sticks and stones go?
I think CFK realised that she had no other option than to try to recruit the whole world to stand as one and tell the UK to hand us over. When that didn't happen she was beaten and knew it.
Like I said the other day on here, nobody much in the Falklands takes any notice of Mercopress any more and I think that, as funny as it seems, is a good litmus test of the effect the Argentine government has had on us.
Joe
Aug 26th, 2012 - 11:18 am - Link - Report abuse 0Every fifth MP news is from the Malvinas/Falklands, probably more than your own local paper, plus they give the news a right twist before they post them. How can this not please you?
60 Guzz
Aug 26th, 2012 - 05:12 pm - Link - Report abuse 0It pleases me a lot. There is less news appearing on the Falklands tab now than there was over the last 12 months and a lot of it is pretty trivial compared to all of the “CFK is going to get the islands” type crap that was being put on here a while ago. I was not making a criticism of Mercopress at all. Rather, I was merely making the observation that newsworthy Falklands vs. Malvinas stories have dropped right back down to the normal pre-30th anniversary levels.
As for Mercopress giving the stories a right twist: that is in your opinion.
TWIMC
Aug 26th, 2012 - 07:04 pm - Link - Report abuse 0I'm waiting for MercoPress's usual “Malvinas Demining Update”...
They usualy come every third fortnight...
Must be the long winter...
@62Think,
Aug 26th, 2012 - 10:07 pm - Link - Report abuse 0Well you wouldn't have to wait for a “Falklands Demining Update” if you Argentines hadn't put the mines there in the first place, would you my dear little malvinista?
58 yankeeboy
Aug 26th, 2012 - 11:01 pm - Link - Report abuse 0Can you understand what it ( 52 Truth_Telling_Troll ) is saying? It seems to be trying to communicate by using words of some kind.
I've seen all of those words before, just not used in that order.........
When a salesman says 'believe me' - dont believe him.
Aug 26th, 2012 - 11:24 pm - Link - Report abuse 0#64 I've seen those words as well.......at least a half hundred times.
Aug 26th, 2012 - 11:26 pm - Link - Report abuse 0Too little, too late for YPF to start drilling, oil supply has already surpassed world demand and prices are falling and falling. The oil and gas boom in the USA is just beginning to take off and the price will continue to fall even more.
Aug 27th, 2012 - 03:30 am - Link - Report abuse 0http://www.businessweek.com/articles/2012-06-04/falling-oil-prices-are-no-mystery
#67
Aug 27th, 2012 - 05:31 pm - Link - Report abuse 0Where do you live . At my local filling stations the price of diesel has gone up by 1p every 5 days for the last6 weeks !
Crude is trading at 112 today Brent that is WTI is at 95. Prices were dropping for two months and then crept up for the past three weeks. In the USA fuel will start dropping as the summer season is coming to an end.
Aug 27th, 2012 - 06:07 pm - Link - Report abuse 0It is only being talked up in price by the doomsayers who still don't get it that the volume being used is dropping.
Aug 27th, 2012 - 07:15 pm - Link - Report abuse 0Plenty of that crap in the UK press over the last few days 'supported' by companies who have a track record of oil speculation.
Once the speculators have taken their profits out of the margin the price will drop again, unless yet another war flares up.
Prices here, at the pumps spikes this time because of spectulators and hurricane seasom. Issac has been pushing prices here a bit.
Aug 27th, 2012 - 08:05 pm - Link - Report abuse 0@15 “Zhivago”?....
Aug 27th, 2012 - 08:22 pm - Link - Report abuse 0Come on Isolde, that is you again!
....get lost estupida!
Don't belive the hype, YPF started out saying months ago they were going to drill 1,000 wells in 2013, now it is down to 250. They do not have enough rigs in the entrie counry to drill 250, as a matter of dfact the ydo not have the tyoe of rigs needed to drill in the “Shale Plays”,, and before any of you Christina Lovers say anything, I know I am a an American working in the oildfiled in Argentina. She will not let any equipmenet in.
Aug 27th, 2012 - 08:52 pm - Link - Report abuse 0I am not a roughneck but I know that drilling and hydrofracting shale is a lot more expensive as well.
Aug 27th, 2012 - 09:19 pm - Link - Report abuse 0@73
Aug 27th, 2012 - 09:46 pm - Link - Report abuse 0Can you be more specific where as an “American” are you working in the oil fields in Argentina?
79 Scuzzie
Aug 27th, 2012 - 10:39 pm - Link - Report abuse 0Why don't you check my ISP against Isolde's ISP and you will see that we are nowhere near each other. Oh, yes, I forgot, you aren't smart enough to figure out how to do that!
Has anyone tried to get into this link?? Has this been blocked by censorship in Argentina as I can't get in??
Aug 27th, 2012 - 11:59 pm - Link - Report abuse 0http://en.mercopress.com/2012/08/27/opinion-poll-shows-cristina-fernandez-rapidly-loosing-support-crime-and-inflation-main-concerns?utm_source=newsletter&utm_medium=email&utm_campaign=daily
73. Does Argentina even have the ability to do the required 3d work for fracking? And if the processing is done outside of Arg don't you think Repsol will sue them and tie up the results in court?
Aug 28th, 2012 - 01:28 am - Link - Report abuse 0@72SBUS,
Aug 28th, 2012 - 08:45 am - Link - Report abuse 0You've caught me out silly soozy.
l am really Think(&Marcos & Pirat-Hunter & just too many to list)
ln fact the only one l am not is Zhivago & you. ha ha ha.
But l'm working on it. Soon l will be the WHOLE World.
Mine, mine, its ALL mine! l'm coming to get you Sooooooooooozy-sweet.
Apart from that, have a nice day!
@77 - Tim
Aug 28th, 2012 - 09:27 am - Link - Report abuse 0Go back to the top there is a drop down list for regions. Select Argentina and scoll down. The article you are referring to is there, and it can still be accessed.
You may just have a problem with your hyperlink.
@74 Actually shale drilling is much cheaper to drill, as an aversge shale gas/oil well can be drilled in about 30 days.
Aug 28th, 2012 - 04:32 pm - Link - Report abuse 0@74 Right now I am down in Neuquen, but also work up north in Tartagal, but the Neuquen area has the largest shale play.
@78 As of now, they do not have the equipment or infustructure for the shale play, my company has been trying for months to get epuipment in country, but the process is mind numbing dealing with the coustoms poeple
According to Occidental, while pressure drilling costs have dropped considerably, breakeve costs are still running between 55 to 70 a barrel US.
Aug 28th, 2012 - 09:07 pm - Link - Report abuse 0Bakers Hughs CEO said that if oil strikes below 80, a lot of shale drillers will be pulling rigs. Every major explorer considers it the most expensive oil to drill and refine.
78 yankeeboy “Does Argentina even have the ability to do the required 3d work for fracking?”
Aug 29th, 2012 - 04:10 am - Link - Report abuse 0Hahahaha, Fred the poor purse salesman now is an expert in shale gas :-)))
How do you know that he isn't, Marcos?
Aug 29th, 2012 - 08:25 am - Link - Report abuse 0Lots of people have different talents.
My eldest brother is a trade qualified butcher, then he got a degree & now he is a mining engineer.
@82, you are somewhat right, in reality if oil fall below $80 a barrell any ype of oil drilling becomes a cost factor. A good example of this is in the US natural gas is 2.57cf, so most natural gas drilling has come to a standstill. I think that most people do not understand that drilling a well is very expensive, you have rig costs, service company costs, etc. I just wish Argentina would do like my home state of Texas and drill.
Aug 29th, 2012 - 02:14 pm - Link - Report abuse 0They need someone to give them money they do not have. They expect private business to come in and do it at cost or for the good of argentina and that is not going to happen.
Aug 29th, 2012 - 03:39 pm - Link - Report abuse 0Argentina has had their barrel price capped at 42 and barrel.
This whole business is slightly ironic.
Aug 30th, 2012 - 01:10 pm - Link - Report abuse 0If CFK had not snatched Repsol, then they would have been investing whereas now, they would not trust the CFK government with a barge pole.
Secondly, if Argentina had been a responsible neighbour, rather than an aggressive wanna be dictator / colonialist county, I am sure Falklands Oil and Gas may have gone into a deal, however this will also never happen due to the way CFK has been.
It will also be ironic if Argentina is unable to import oil and gas easily and have to purchase from the Falklands. Would they let a falklands or UK flagged vessel dock then?
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