MercoPress. South Atlantic News Agency
Repsol sues Chevron in New York over development of YPF energy assets
Spain’s Repsol has sued Chevron Corp. in New York seeking to prevent the US oil giant from developing energy assets in Argentina. The federal lawsuit filed Tuesday follows other legal claims that the Spanish oil company has filed in Madrid and Washington, demanding more than 10 billion dollars in compensation for the majority stake in the YPF oil company that Argentina's government took over in April. Read full article
Comments
Disclaimer & comment rulesLong live capitalism, look how these oil companies are all stabbing each other just to get at the massive oil reserves Argentina has.
Dec 06th, 2012 - 12:46 am - Link - Report abuse 0stupid pigs.
you commies just do not understand how competition works, that is why you resort to stealing entities. The shale will never get out until the cunt pays Repsol.
Dec 06th, 2012 - 02:15 am - Link - Report abuse 0you stupid south american pig
Hey Guzz
Dec 06th, 2012 - 06:22 am - Link - Report abuse 0EEzz the Argentinian way of doung things, Wassa matta you!!!
Capitalism is the most natural system of economics that exists today.
Dec 06th, 2012 - 11:52 am - Link - Report abuse 0Oil companies unfortunately have been using their clout to create situations that work in their favor to an unnatural degree. They generate liabilities for the countries they do business with, and their clients.
The problem is that oil companies haven't been letting the economy breathe. People should be able to choose alternatives, but their friends in the government pass laws to create restrictions to prevent oil companies from losing market share. That's unnatural.
The socialist model requires more controls that are much more dangerous. Instead of large corporations, and legislators interfering; you have much more malignant forces that impose their “ideals” which often have catastrophic effects, like inflation. It's the same issue, just someone else's hand in the cookie jar.
The economy can self regulate if given the right proportion of freedom and regulations. A new law must be scrutinized with precaution, because it could upset the balance.
Don't worry Spanish they are always goods “Judge Thomas FranBuesa” available out there in US. The rest is just like your imagination...
Dec 06th, 2012 - 11:59 am - Link - Report abuse 0#4 I totally agree with you last paragraph. There is no “pure” or “true” capitalism anyway. It's up to the government to right the proper balance between enough regulation to prevent runaway corporations and not too much to stifle them from providing investments, goods and jobs.
Dec 06th, 2012 - 12:55 pm - Link - Report abuse 0Optimus,
Dec 06th, 2012 - 12:59 pm - Link - Report abuse 0Nice post.
Repsol will sue every oil company that tries to do business with YPF.
Dec 06th, 2012 - 01:18 pm - Link - Report abuse 0All they have to do is make it difficult and expensive to do business with Argentina for this to work.
The game they are playing is delay delay delay and frustrate any new $ coming in for exploration.
Repsol will win.
It is just a matter of time
They can outlast CFK
I hear there is another protest this month
Do the provinces have the $ for the 13th payment in Dec?
I bet not
Yea
Wonder how many more court cases argieland is going to cause or get involved in. There's 65 recorded at the WTO, 49 at the ICSID, 3 (that I know of) in the US, 1 in Ghana. Clearly a pariah, rogue state.
Dec 06th, 2012 - 02:45 pm - Link - Report abuse 0@9
Dec 06th, 2012 - 02:50 pm - Link - Report abuse 0Nope, a state that has called you out as the pathetic, thieving, hypocrite, cheating, mendacious, fibbing, prevaricating, uncoth, loutish, doltish, paltering, countries you are.
Just because you control the UN and all other organizations and they write “glowing” reports about you (all lies of course... who would believe North Korean TV's accounts of their leader for example), doesn't make them true.
These “reports” on corruption, human rights, etc, are all paid-off by the northern nations, and worth no more than a North Korean tv anchor's news script.
I think it is hilarious that a tanker full of burning pesticides is not considered a health hazard in BA!
Dec 06th, 2012 - 02:57 pm - Link - Report abuse 0CFK has Goebbels beat by a mile!
Some of my friendfs have been evacuated down by Puerto Maduro
Dec 06th, 2012 - 03:35 pm - Link - Report abuse 0Yeah my FB friends are complaining about it.
Dec 06th, 2012 - 03:37 pm - Link - Report abuse 0I guess it stinks although with all the rotting garbage not being picked up I wonder how one could tell?
I'd imagine the whole boat burning exercise is planned to coincide with some anti-kirchner event on 7th December or to redirect attention away from her creating an edict to let her offshore another $2bil from the central bank to her personal wealth fund.
Dec 06th, 2012 - 04:28 pm - Link - Report abuse 0La campora brown shirts, eh? predictable to the last.
@8 yankeeboy
Dec 06th, 2012 - 04:57 pm - Link - Report abuse 0I think i read that monetary base increased another 36%. I suppose that this will pay off the bonus payments...?
15. Monetary base might be up but the “legally required” tax x-fer payments have not been making their way back to the Provinces.
Dec 06th, 2012 - 05:10 pm - Link - Report abuse 0There lies the rub
Don't waste your time. In the end, the full power and influence of the U.S. Government will not allow Repsol to win this one against Chevron.
Dec 06th, 2012 - 05:25 pm - Link - Report abuse 017 ProRG_American (#)
Dec 06th, 2012 - 05:28 pm - Link - Report abuse 0Dec 06th, 2012 - 05:25 pm
Just like “the full power and influence of the U.S. Government will not allow” Ecuador to win this one against Chevron.
Do you think so??????
@16 yankeeboy
Dec 06th, 2012 - 05:41 pm - Link - Report abuse 0Didn't know that, interesting. I suppose central government needs all the cash they can get their hands on. Isn't tomorrow the day that Clarin has to break-up its empire?
19. The Provinces have had to shut down, postpone and cancel a lot of projects. Arg was fined by the IDB for using infrastructure loans for other purposes (rut ro).
Dec 06th, 2012 - 06:01 pm - Link - Report abuse 0Many Provinces have delayed payments to suppliers and offered a lottery to pay current salaries. They're out of scratch even though the printing presses are turning out 100 pesos notes just about as fast as they can.
They will either force CFK to x-fer the $ for the 13th payment or issue script. Either way nothing is going to stop this train from crashing.
#17 you need to put an s infront of the American.......of at least id yourself as a transplanted American, assuming you are legal.
Dec 06th, 2012 - 06:06 pm - Link - Report abuse 0Haha I guess Denmark, Finland and New Zealand aren't highly ethically run countries for their citizens because a Mendozan who calls himself troll said so.
Dec 06th, 2012 - 07:44 pm - Link - Report abuse 0Meanwhile, I saw under-the-gov stuff when I was in Arg. Diiiidn't want to.
It's nice to live among a people who treat you honestly and well.
What you are missing ProRG or should I just say RG is Repsol are not really trying to win too many cases but make it impossible/extremely expensive for oil companies to partner with Argentina and its working very well.
Dec 06th, 2012 - 09:08 pm - Link - Report abuse 0What happened to the Chinese/Russian investments? What happened to all of these companies supposed to be investing in Argentina? Only Chevron has stuck its toe in the water and is about to have an expensive court case that will delay production massively and that is if it can win.
As Simon correctly said American isn't using its influence and power to change anything given the recent judgements and Amercia's very strong anti-Argentine stance. Given Argentina is the USA sh!t list, its clearly not going to help Argentina.
Argentina burnt its bridges with the USA a while ago.
@19 Yes and this was reported today,
Dec 06th, 2012 - 09:25 pm - Link - Report abuse 0The Judiciary asks government to avoid ‘pressure on judges’
Justice Minister Julio Alak.
Judiciary power asked today the national government to “exercise its faculties within the boundaries of the procedural rules and avoid using direct or indirect mechanisms to pressure judges thus affecting their independence”, in a communiqué released today after judges designated to rule the Media Law reported their independence was being attacked by the Executive branch.
Can you imagine the pressure the government is putting on the judges to force the demise of Clarin? All to satisfy a personal vendetta of CFKC.
I mentioned before that there was a very interesting article in the New York Times about it. Clarin had a rather cosy relationship with Nestor but since power went to CFKC's head, she is all about her personal agenda, rather than what is right for the country.
It's called a system of checks and balances for a reason. I would like to see it work at least once. It would be sad for the Judiciary branch to give in to the childish whims of a petty tyrant.
Dec 06th, 2012 - 10:43 pm - Link - Report abuse 0It seems like the country is being run by greedy little kids.
Argentinian independence of the judiciary is oxymoronic.
Dec 06th, 2012 - 11:01 pm - Link - Report abuse 0#17 you RGs just do not understand how our system works.
Dec 07th, 2012 - 01:03 am - Link - Report abuse 0The Judiciary did extend the stay. The botox queen must be IVing her meds tonight.
@25 Optimus
Dec 07th, 2012 - 01:06 am - Link - Report abuse 0“... a system of checks and balances”
In Argentina, cheques and bank balances
Hey Christina and you trolls,
Dec 07th, 2012 - 10:10 am - Link - Report abuse 0Democracy 101.
Well done our Judiciary, first step on the road to REAL Democray!!!!!!
Dec 07th, 2012 - 02:04 pm - Link - Report abuse 0I wonder how much of Chevron’s interest in YPF is genuine given the obvious difficulties involved, and how much is simply to give them leverage against any attempts by Equador to seize their existing assets in Argentina.
Dec 07th, 2012 - 06:11 pm - Link - Report abuse 031 Pugol-H(#)
Dec 08th, 2012 - 10:29 am - Link - Report abuse 0You hit that one on the head Boyo! well said
@9
Dec 09th, 2012 - 10:22 pm - Link - Report abuse 0”Wonder how many more court cases argieland is going to cause or get involved in. There's 65 recorded at the WTO, 49 at the ICSID, 3 (that I know of) in the US, 1 in Ghana. Clearly a pariah, rogue state.”
Lol-still waiting for all these RG court cases against oil companies investing in/exploring Falkland waters-not seen one yet in 9 months.
Chevron sued for colluding with socialism in Argentina, while crying persecution in Ecuador, you couldn't make it up =)
Dec 14th, 2012 - 09:29 pm - Link - Report abuse 0BK you should be a Hollywood publicist, you know how to reshape and simplify reality
Dec 15th, 2012 - 03:08 am - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!