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YPF signs shale gas exploration deals with Pan American Energy and Bridas

Saturday, December 29th 2012 - 06:30 UTC
Full article 18 comments

Argentina’s nationalized oil and gas company YPF announced on Friday that Pan American Energy, PAE, would be investing 3.4bn dollars in gas production in the next five years while Bridas, belonging to the Bulgheroni brothers said it plans to invest 1.5bn dollars in the development of the non conventional shale deposits in Vaca Muerta. Read full article

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  • toxictaxitrader2

    Not a reward/risk calculation I would make,unless it is a holding position awaiting a change of government.

    Dec 29th, 2012 - 11:00 am - Link - Report abuse 0
  • ChrisR

    I would not touch anything in Argentina, especially to do with YPF.

    They are not to be trusted.

    Dec 29th, 2012 - 12:26 pm - Link - Report abuse 0
  • yankeeboy

    I imagine anyone with any current o/g investments in Argentina is being threatened and intimidated into ponying up so cash for development.
    It is less risky to throw in rather than having you or your family be killed, kidnapped, bankrupted or your company nationalized.

    Rg ministers are known to negotiate with a gun on their desk.

    Thugs

    Dec 29th, 2012 - 12:34 pm - Link - Report abuse 0
  • Conqueror

    Wow. A 40% increase in road fuel prices in a year! Still, plenty of scope for more increases. Road fuel should be at least US$2.00 per litre. In a failing economy, people shouldn't own cars. And even if they do, they shouldn't be able to afford to go anywhere. They should be working. Sixteen hours a day. Keep them off the streets. On their knees in the fields. Cutting furrows with a small trowel. Then walking back to their hovels. Evenings can be spent making their clothes.

    Dec 29th, 2012 - 01:28 pm - Link - Report abuse 0
  • GeoffWard2

    Pan American Energy is owned 60% by BP: 40% by Bridas.
    Bridas Corporation is an 'independent' oil and gas holding company based in Argentina, 50% owned by China National Offshore Oil Corporation (Cnooc).
    So to say “Bridas, belonging to the Bulgheroni brothers of Argentina” and “The Bulgheroni family controls Bridas Energy Holdings, BEH, and has a stake in Bridas Corp--a joint venture between BEH and Cnooc.” is stretching the truth.
    The deal with Chevron seems somewhat similar.
    But the stakes, commitments, profits, etc seem somewhat opaque.

    So -
    once the Chevron's appropriation of its total assets in Argentina is sorted (the Ecuador civil court case),
    and once Unasur unblocks the ban on dealing with Chevron (the Brasil deepwater case),
    and once the Argentinian Government pay the Spanish (the Repsol appropriation case),
    YPE (the Argentinian state oil/gas comapany) are free to deal with
    BP (the ongoing Bay of Mexico USA case)
    and Cnooc (the Chinese 'private'/state oil/gas company).
    By the way, what happened to Sinocorp?

    I think all parties are sufficiently enmeshed by the Argentinian Government now that there will be no easy escape for any of them.

    Dec 29th, 2012 - 02:29 pm - Link - Report abuse 0
  • ChrisR

    5 GeoffWard2

    And not ONE of them saw the sucker punch coming.

    I bet they will see the next one, due anytime now.

    Dec 29th, 2012 - 03:00 pm - Link - Report abuse 0
  • Shed-time

    tree-bark soup anyone? it's nearly sunday when we get a few slices of shoe to go with it.

    Dec 29th, 2012 - 04:16 pm - Link - Report abuse 0
  • Nostrolldamus The 5th

    http://www.nowpublic.com/world/british-economy-has-become-dreadful-economy

    half of British have considered leaving that hapless island... harsh times, harsh times.

    Dec 29th, 2012 - 08:22 pm - Link - Report abuse 0
  • British_Kirchnerist

    Good news =)

    Dec 29th, 2012 - 11:21 pm - Link - Report abuse 0
  • Xect

    Ah if only it were true Tobias which quite clearly it is not.

    Sure you can troll to a higher standard than this? This is at the level of Marcus, think or British_Kretin.....

    Dec 29th, 2012 - 11:33 pm - Link - Report abuse 0
  • British_Kirchnerist

    #8I don't think so many will leave (nor do I think Scotland will leave). I hope we stay and fight for a better Britain, one without Cameron's austerity

    Dec 30th, 2012 - 12:46 am - Link - Report abuse 0
  • toxictaxitrader2

    11 BK
    and where will the money come from??Argentina gives a lesson in over borrowing! pariah for 25-30 years,talk sense

    Dec 30th, 2012 - 03:52 am - Link - Report abuse 0
  • Shed-time

    The good thing about austerity is it prevents something called 'bloated civil service', where you DON'T get someone called blair, trying to hide lazy people into civil service jobs rather than trying to get them employed in the private sector where they'll be producing value for the economy. Then the private sector have to import lots of not-lazy people from abroad to do the value-creation.

    Then when we realise that Blair is actually stealing from the next-generation's pockets in order to balance his accounts and make it look like people have real jobs, we all find that the finances have gone to utter utter sh!t. Then utter utter lazy morons want to vote for the same people who cooked the books and engaged in intergenerational theft simply because they're lazy and want a not-job which doesn't actually deliver any value to the economy.

    This is basically how Scotland works.

    Dec 30th, 2012 - 11:46 am - Link - Report abuse 0
  • toxictaxitrader2

    Democracy always breaks down like this ,people voting for themselves rather than the common good.

    Dec 31st, 2012 - 07:58 am - Link - Report abuse 0
  • Pete Bog

    Is this deal OK with Repsol?

    Dec 31st, 2012 - 01:13 pm - Link - Report abuse 0
  • British_Kirchnerist

    #14 So whats the solution? Dictatorship?!

    Dec 31st, 2012 - 03:32 pm - Link - Report abuse 0
  • GeoffWard2

    Nostrolldamus The 5th (#8)
    'half of British have considered leaving that hapless island... harsh times, harsh times.'

    Yes, with a wet year like 2012, I can understand it!
    Most chose Spain and the sun, but 'hapless' better describes their destination, not their origin. So I think that sun is the key to the 'problem'.
    I chose Brasil some years before. I have loved the country and continue to work towards its betterment. Sun as well!

    Dec 31st, 2012 - 06:43 pm - Link - Report abuse 0
  • Pirat-Hunter

    I will like to remind everyone that money is a beast that adores money. So if Pan am or Chevron don't drill in Argentina, I am sure Venezuela, Brazil, Russia, Germany or China will be very much willing. Never underestimate the power of the beast. VIVA CRISTINA!

    Dec 31st, 2012 - 07:49 pm - Link - Report abuse 0

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