MercoPress. South Atlantic News Agency
Chevron agrees to invest 1.5bn dollars in developing YPF shale field in Patagonia
Argentina’s nationalized oil company YPF signed on Wednesday an agreement with US oil major Chevron Corp to define the terms and conditions of Chevron's investment of 1.5 billion dollars in the vast Vaca Muerta shale field. Read full article
Comments
Disclaimer & comment rulesVaca Muerta(dead cow) is alive and well, British oil exploitation around Malvinas is in coma.
May 16th, 2013 - 03:45 am - Link - Report abuse 0LOL @ Marco.
May 16th, 2013 - 05:56 am - Link - Report abuse 0Yes that is exactly how the world is.
Simple outlook for a simple person.
Don't be too critical of Marcos, he doesn't live there so maybe has lost touch a bit with the reality of the situation.
May 16th, 2013 - 06:00 am - Link - Report abuse 0I wonder what terms were agreed to achieve this?
Too little, too late.
@1 Marcos
May 16th, 2013 - 06:25 am - Link - Report abuse 0Don't get too excited. Try reading the article.
They signed a deal to agree the terms and conditions of Chevon's investment. YPF still has diddly-squat, and will continue to have diddly-squat if Chevon believes the terms unfavourable.
It is unwise to try and celebrate until you actually have the money.
Also YPF plans to drill 132 wells by the end of the year? They'd really better start getting a move on then, hadn't they?
Basically the down payment of a ransom for the other assets held for Ecuador.
May 16th, 2013 - 09:18 am - Link - Report abuse 0Rg thuggery pure and simple
They're just biding their time until they can escape like the rest of the Int'l companies.
Well. They need this investment. Already companies have ben told that they will be forced to use 20% less gas this winter so that there aren't shortages. Serious energy crisis
May 16th, 2013 - 09:53 am - Link - Report abuse 06. At some point, and I think relatively soon, the Int'l companies will pack up and leave. Why bother being in Argentina when it is so difficult to do business?
May 16th, 2013 - 10:18 am - Link - Report abuse 0I think they've reached their breaking point and this next crisis will be their last.
With Chevron's potential U$S 1.5 billion, YPF only needs to raise U$S 35.5 billion to comply with Galuccio's 5 year plan!!!!!!
May 16th, 2013 - 01:17 pm - Link - Report abuse 0The only way Chevron will put up even 1 cent is by Argentina convincing Ecuador to drop the ecological case against them, or in a slightly more possible case to overturn the embargoe for U$S 19 billion found against Chevron by an Argentine Judge!!!!!!
This is nothing more than making official the memorandom that was previsouly agreed to and ONLY because Argentina is holding their assets hostage. In the meantine, Argentina is still importing petro....and it continues to get colder. Funny how people in Buenos Aires City think 4.5c (40F) is cold......try a New England winter at 5 to -5 F (-15 to 20c) to see what cold is.
May 16th, 2013 - 01:39 pm - Link - Report abuse 0@8 Simon
May 16th, 2013 - 02:59 pm - Link - Report abuse 0Sorry to hear this Simon.
Very hard on the people just now and ironic that there is so much fuel and wealth underground.
It would be accessed too, helping the economy and saving Argentinians from hardship, but CFK's greed and nationalisation policies shot them in the foot.
Poor Marcos ... he thinks holding signing ceremonies indicate things are alive and well, whereas planning, designing and building is being in a coma. His life must be full of disappointments when things don't happen by magic.
May 16th, 2013 - 05:00 pm - Link - Report abuse 0To be honest, Troy, it is probably a good thing that Vaca Muerta wont be expoited propperly until after the Kirchner rabble are ousted. They would only steal any profits!!!!!!
May 16th, 2013 - 05:48 pm - Link - Report abuse 0Chevron has big cohones,
May 16th, 2013 - 06:38 pm - Link - Report abuse 0risking Argentina after being taken for potentially in excess of $20billion by Brasil for an offshore seep.
Still, the big petrochemical companies are used to risking big to gain big.
Repsol, BP, Exxon, Shell, Burmah ... most have been shafted as part of the process.
Today, BP declared it will be shelling-out many more billions to 'undeserving' 'vulture' companies (to use the CFK term) as more and more businesses pile in the spurious claims knowing that the US adjudicators and judges will support claims on a non-US company.
DON'T SIGN IT CHEVRON!
May 16th, 2013 - 07:28 pm - Link - Report abuse 0DAMN HE ALREADY HAS- he will have to plead insanity to the Chevron Board and they will all agree with him.
Geoff you really need to know what you are saying when you make a statement that US judges support and allow spurious claims for “non-US” businesses. Perhaps you need to google the fraud convictions of businesses and people trying to get some gravey out of BP. Dollar wise.....BP has more freaking assets in the USA than they have in the UK. In fact BP USA is the largest BP division in assets and revenue.........so yeah....really....a non-USA business.
May 16th, 2013 - 09:21 pm - Link - Report abuse 0After the Texas refinery explosion that killed 15 for safety failures , the Prudhoe Bay spill, the North Slope spill and then finally the deep water incident with 11 more deaths, that was enough.
Personally myself I feel the fines was raiding the till like you do. I would rather have the BoD criminally charged, convicted and be sentenced to jail time with their names changesd to “Bend over Betty”
Hi Poppy.
May 17th, 2013 - 10:19 am - Link - Report abuse 0#15
... your beef seems to be with 'judges' ... happy for you to correct me ... who?
... 'non-US businesses' .. I perceive more, and more lucrative, litigation against 'foreign' business .. happy if you can show me I am wrong, I'm too far away to get a personally researched perspective.
google “fraud against BP”
May 17th, 2013 - 01:15 pm - Link - Report abuse 0Yopu make a statement.....support or do not make the statement.
http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/12/fraudulent_claims_in_gulf_oil.html
http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/12/fraudulent_claims_in_gulf_oil.html
ANd even a US judge ruling in favor a a “NON USA BUSINESS” fucking image that!
http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/12/fraudulent_claims_in_gulf_oil.html
http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/12/fraudulent_claims_in_gulf_oil.html
http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/12/fraudulent_claims_in_gulf_oil.html
Google them yourself.
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