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Argentina's YPF wooing Malaysia Petronas to develop shale deposits

Thursday, January 30th 2014 - 06:46 UTC
Full article 39 comments

Argentina oil company YPF is courting Malaysia's Petronas as a possible partner to develop the promising Vaca Muerta shale, according to reports. YPF chief executive Miguel Galuccio was in Kuala Lumpur for a meeting on Wednesday with Petronas leader Tan Sri Dato Shamsul Azhar Abbas, the La Nacion newspaper reported. Read full article


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  • ilsen

    getting desperate now? reaching out to that global superpower and well-known oil-experts Malaysia?
    What happen to your companeros Crass-tina? Your brothers in arms, Los Chavistas in ALBA?
    Quote from article above “The company was also reportedly considering dropping a stake in a major Venezuela heavy-oil project after disagreements with state oil company PDVSA.”
    --- Official Bolivarian ‘Wonderland’ Exchange Rate in Venezuela ---
    BCV 6.3Bsf / 1USD
    SICAD 11.3Bsf /1 USD (Ancillary Foreign Currency Administration System)
    ----The Reality Cheque ---
    Blue or ‘lechuga verde’
    79.54 Bsf / 1USD
    Bsf 105.42 / 1 Euro
    UK Sterling? As they say, if you have to ask, you can’t afford it!

    Brought to you by Ilsen Publications ©

    Jan 30th, 2014 - 07:18 am - Link - Report abuse 0
  • Rufus

    @1 Ilsen. Be fair, Petronas is a relatively significant player in the oil business.

    As such they're not total morons, unless the terms are so ridiculously good, the guarantees are somewhat more copper-bottomed than the word of a selection of Argentine politicians and (bearing in mind the experience that Repsol have had) secured by sufficient liquidity to compensate them should it all go pear shaped then I doubt that they'd touch YPF with a long pole.

    Jan 30th, 2014 - 10:10 am - Link - Report abuse 0
  • golfcronie

    If I were Petronas I would wait and see what Argentinas terms of reparation made to Repsol before committing any money. But I am sure THEY know that.

    Jan 30th, 2014 - 10:48 am - Link - Report abuse 0
  • yankeeboy

    We have advanced towards a future deal,”

    These are meaningless fluff Press Releases. They mean nothing. When they have a signed deal it is news.

    This is a bit more than gossip.

    Jan 30th, 2014 - 11:07 am - Link - Report abuse 0
  • warteiner

    Comment removed by the editor.

    Jan 30th, 2014 - 11:33 am - Link - Report abuse 0
  • golfcronie

    Totally uncalled for, you must be Argentinian.

    Jan 30th, 2014 - 11:39 am - Link - Report abuse 0
  • Optimus_Princeps

    @5 We're talking about news, and we actually paid for the computers we're posting from. We didn't just rely on getting a free laptop from the government, and I'm pretty sure most of us finished secondary school as well.

    Jan 30th, 2014 - 11:39 am - Link - Report abuse 0
  • yankeeboy

    I had this conversation on another thread.
    Frankly it is amazing that YPF Prez has to do road shows to try to sell VM. It really tells you how bad the Rg gov't must be to deal with. In any other country OG companies would be breaking down the doors to do exploration, in Argentina they have to beg and they are still turned down.
    They're doomed.

    Jan 30th, 2014 - 11:58 am - Link - Report abuse 0
  • ilsen

    @2 Rufus
    Thanks for your comment. However, that you had to put in THREE caveats to cover one point kind of undermines what you are saying...
    with respect, I think Yankeeboy puts a stronger point.
    Peace :-)

    Jan 30th, 2014 - 02:08 pm - Link - Report abuse 0
  • Welsh Wizard

    @8 The worst thing for him is doing these road shows and people walking out or laughing at his proposals.I was at one int he City and there were a lot of jokes being made his/YPFs expense afterwards...

    Jan 30th, 2014 - 03:20 pm - Link - Report abuse 0
  • yankeeboy

    We promise that once you find the oil and start extracting it we won't steal it.
    We promise, see we'll even put it in writing...

    Jan 30th, 2014 - 03:54 pm - Link - Report abuse 0
  • Welsh Wizard

    @11 Yup. You could see that evewn he didn't believe what he was saying.
    G: “You should invest in us...for free”

    Oil company: “Why?”

    G: “because we are Argentina?”

    Oil company: “[snigger, snigger]. We've got another meeting to go to...with a serious country.”

    Jan 30th, 2014 - 04:10 pm - Link - Report abuse 0
  • yankeeboy

    but according to all the advertisements Nestor put out Argentina is a serious country?
    I don't understand?

    Jan 30th, 2014 - 04:28 pm - Link - Report abuse 0
  • nigelpwsmith

    It won't be much better with the next set of clowns that take over once the bitch is strung up.

    You cannot guarantee that the oil will not be diverted when the whole country lives by the creed of Viveza criolla.

    Even the military would want hard cash or weapons shipments as bribes to keep the oil flowing.

    I doubt that anyone will touch VM until there's a crisis in the middle east and the oil stops coming from there.

    Jan 30th, 2014 - 04:42 pm - Link - Report abuse 0
  • Welsh Wizard

    @13 Which is why all the comedians started saying “This would never happen in a serious country”

    Jan 30th, 2014 - 04:49 pm - Link - Report abuse 0
  • Vestige

    The US Energy Information Administration estimates that Argentina has the world's second largest shale gas reserves with 802 trillion cubic feet.

    As for actually getting to it....well theres serious money to be made for those many experienced and financed experts who can. :)

    Jan 31st, 2014 - 02:36 am - Link - Report abuse 0
  • Narine T. Nüster

    Argentina does well by not exploiting all the resources today, and waiting until everyone else has exhausted theirs. Then they will get investment at any cost and they will be able to call the shots with impunity.

    Jan 31st, 2014 - 06:20 am - Link - Report abuse 0
  • lsolde

    No you won't Narine.
    lf you want us to act like the pirates that you shower of incompetent oxygen thieves say that we are..............well, we'll just walk in and take your oil. he he he.
    Don't think that it would be too much of a challange. lol!
    And you'll STILL be impotently screaming & shouting like you do about the Falklands.
    Oh & we'd cut Chile in on the deal, too!

    Jan 31st, 2014 - 09:38 am - Link - Report abuse 0
  • yankeeboy

    17. Wow you are so stupid! Your country is literally going bankrupt because nobody will do business with you!
    You must be deaf, dumb and blind not to see how Peronism as ruined 3, going on 4 generations of wealth and happiness for Argentina.

    Jan 31st, 2014 - 10:41 am - Link - Report abuse 0
  • Vestige

    18 - you'll need just a bit more transport. Last time main battle tanks crossed the atlantic was ww2 when America saved Britain, and they were little tin cans.

    Jan 31st, 2014 - 11:47 am - Link - Report abuse 0
  • lsolde

    @20 Vestige,
    You'd be surprised what we have got.
    Overwhelmingly surprised.
    Overwhelmed & surprised.
    Can say no more.

    Jan 31st, 2014 - 12:19 pm - Link - Report abuse 0
  • Captain Poppy

    Argentina will be SA's Somalia by the time the world runs out of fossil fuels. Even before they do run out, using fossils will be a habit of the past....history.

    Jan 31st, 2014 - 12:31 pm - Link - Report abuse 0
  • yankeeboy

    Last time main battle tanks crossed the atlantic ...
    Er how'd we get the tanks to Iraq and Afghanistan did we beam them?

    Think before you post

    Jan 31st, 2014 - 12:51 pm - Link - Report abuse 0
  • ChrisR

    Only about three weeks ago Captain Dismal had to “come on stage” as they so comically put it TO DENY that Miguel Galuccio was going to resign!

    Must have sent La Camping It Up around to have a word in his wife's ear to “encourage” him to stay.

    Have YPF increased in real terms the oil production and got it to market? Can't find any hard information on that other than Lunatic's lunatic statements.

    Jan 31st, 2014 - 03:20 pm - Link - Report abuse 0
  • Captain Poppy

    No one is going to invade Argentina it is hardly of strategic value.

    #20....ever hear, see or fly in a C5a Galaxy? 1 Galaxy....1 M1A1. How many Shermans do you suppose it take to equal an Abrams?

    Ever see (or jump) the 82nd or the 517th drop in an visit someone? Impressive.....truly impressive. As I said nothing there worth anything, but the point being IF it was to be, there is not a fucking thing that Argentina can do other than practice Italian military drills......raise your arms as fast as you possibly can and wave a white flag.

    Jan 31st, 2014 - 04:01 pm - Link - Report abuse 0
  • Clyde15

    Ever heard of ships ?

    Jan 31st, 2014 - 05:14 pm - Link - Report abuse 0
  • Captain Poppy

    BTW.......I meant 17th, another typo.

    Clyde.....ships are ok for the long haul but are impractical for rapid deployment. Air drops, except big armor is the way. I it does suck on the drop like that because boots are dropped first then flying trucks, vehicles and artillary go last.

    Jan 31st, 2014 - 05:43 pm - Link - Report abuse 0
  • Clyde15

    I didn't know we were talking about rapid deployment.
    C-5B has a range of approx. 3000 miles. Argentina is about 7000 miles from Georgia. a 14000 mile return trip. An airborne logistic nightmare.
    I would have thought, in a hypothetical situation, it would be the task of an USMC battle group. Go ashore, seize and hold an airfield and reinforce by air.

    Anyway, it's just a daft notion which would never happen.

    Jan 31st, 2014 - 06:38 pm - Link - Report abuse 0
  • Captain Poppy

    Actually Clyde it would depend on the scenario, location and elements to determine whether “Marines” would storm a beach, of do a drop. Distance really doesn't matter as they fly every week to the middle east, non-stop. Of course this is all under a conventional war scenario. Airborne are located in more than Benning, Stuart in Georgia......names bring back such fond memories....hehehe. They really only train in Benning.....jump school and infantry school. Stuart's a mechanized base.

    Back to who. The forces all want to be the “one” many factors go into it. When I was in I was first in a new, light infantry for rapid deployment 24th ID. only around 10k in the division and no armor. The biggest consideration is also how many boots they need on the ground. The Marines is a small force and remember......roughly 9 men support 1 combat soldier....logistics, transport, feeding, support etc, etc. I forgot the levels of the marines but I believe it is under 200k. If there were to be an invasion, would not Buenos Aires City be your target? Then again we both are undoubtedly wrong as targeted strategic strikes would be the flavor.

    Jan 31st, 2014 - 07:44 pm - Link - Report abuse 0
  • reality check


    Awesome Paras, lot to live up too!

    Jan 31st, 2014 - 08:21 pm - Link - Report abuse 0
  • ilsen

    @18 & @21
    Oh yeah! You go girl!
    You are worth 1000 of these fools @ 17@20!
    when will they learn!

    Jan 31st, 2014 - 09:58 pm - Link - Report abuse 0
  • nigelpwsmith

    If the inflation rate has really gone to 64%, then before long Argentina will be begging ANY country to come in and take over.

    They've been robbed blind by that bitch in the Casa Rosada and financially destroyed by her bunch of thugs, thieves and murderers.

    Argentina's been so arrogant and nasty to her neighbours that I doubt any of them would want to put the country back on its feet.

    Maybe the Chinese really are Argentina's only hope?....

    Jan 31st, 2014 - 10:29 pm - Link - Report abuse 0
  • Vestige

    Yes 23, by transport beam. Absolutely.

    Jan 31st, 2014 - 10:32 pm - Link - Report abuse 0
  • ilsen

    South America's only hope for a stable, prosperous future lies within the Pacific Alliance.
    I just hope those current members do not get further entangled with the likes of ALBA and CELAC (CELAC claims 33 member States but let us not forget it is an invention of the Cuba/Vnzla plan for a commie superstate...)

    Feb 01st, 2014 - 01:34 am - Link - Report abuse 0
  • Clyde15

    First of all I am not a military strategist and have never served in the armed forces.
    I have read extensively on the history of warfare and had colleagues, early in my career, who had fought in WW2 at Arnhem, N. Africa, Italy, Normandy Walcherns, Battle of Britain, Malta and Arctic convoys, Korea, Cyprus, Malaya and Aden. They told it as it was without Hollywood heroics..
    Before our Argentinian friends get offended, this is purely an academic exercise and I could never see it happening, as apart from the Falklands, I don't see ARGENTINA as a real enemy who could do either of our countries any real harm.
    I would imagine that any attempt to invade a city is doomed to failure unless you apply the Nazi system of reducing it to rubble.

    Your non-stop flights to the middle east or Afghanistan fly through friendly NATO airspace the whole way. Their air-to-air refuelling is probably done from RAF Mildenhall, in Suffolk and there are any amount of diversionary airfields en route. My local airport at Prestwick plays host to USAF C-130's on a regular basis as they route to Frankfurt or the middle east. I regularly see them over my house.
    To fly from the USA to Argentina would require a route outside the S.A. mainland as permission to overfly on a war mission would be denied.
    You then have the problem the RAF had, to get aircraft to the Falklands. Massive aerial tanker support from KC-10's and KC-135's who would need tankers to support them. To get one C-5 there, and back, would require about four tankers - hardly a feasible option.
    The obvious solution is to send a force of marines lifted in on MV-22 Ospreys to seize a coastal airfield, reinforce from the air and bring the troops ashore from the sea. Air cover is no problem. Apache helicopters can deal with any tank.

    The big unanswered question is.. why are you there and how do you get out ?
    These two questions were never fully answered in the case of Iraq and Afghanistan as mission creep took over.

    Feb 01st, 2014 - 12:15 pm - Link - Report abuse 0
  • Captain Poppy

    Clyde I am not arguing with you. I am not a strategist either though a might know a tactic or two. I merely responded to some else referring to “invading”. There are several people on this web site ALWAYS talking about invading, nuking , bombing....etc,'s just NOT going to happen AND....if you read my opening line on the first post:

    No one is going to invade Argentina.

    However, there is ALWAYS a way for anything to happen.

    As for your last questions, ask Bush not me.

    Feb 01st, 2014 - 02:19 pm - Link - Report abuse 0
  • nigelpwsmith

    There is no need to invade Argentina. They are doing a fine job of destroying their own country from the inside!

    In the next few years, whoever takes over after the present leadership is deposed, executed or exiled, will need to ask the international community to send in aid workers for a catastrophe only second to that of Somalia.

    I suspect that the Pope will help by mobilising the church to help distribute the aid, much of which will more than likely come from the United States.

    Even though many of the malvinistas on the Mercopress boards attack America for their support for the United Kingdom, they would only be too willing to swallow their pride when they have nothing else to swallow other than the usual bile they spew.

    The best way to defeat a country (militarily speaking) is to let it collapse from the inside out. To a large extent, this is what happened in Iraq. The sanctions placed on Saddam eventually made it impossible for him to resist the invasion.

    Although Iran is presently showing signs that they too want the sanctions ended, they've yet to stop their nuclear weapons programme or their support for violent regimes and militants throughout the middle east. However, if they continue to seek a bomb, Israel will take unilateral action to stop them once and for all.

    Whoever takes over in Argentina is going to have to give some concrete reassurances that any investment would be protected. Given Argentina's history, I doubt that any of the major companies would want to waste their time and money investing in VM.

    Argentina will end up as the poor man of South America. Their past arrogance will no longer be tolerated by their neighbours and if they hope to recover at all, it will be through hard work, not Viveza Criolla.

    It maybe that many of the Amerindian independence groups will gain a lot of support. Especially after Spain fractures into provinces. Patagonia under Amerindian control, would be a much better neighbour for the Falkland Islanders.

    Feb 01st, 2014 - 04:28 pm - Link - Report abuse 0
  • ChrisR

    @ 35 Clyde15

    I think somebody has been taking the US videos of “The Unit” literally. Very heavy use of big lifters for at most 8 soldiers.

    One scene they are in SYRIA and the next back at base! Yeah, that’s the way to go!

    And as for SA and Venezuela, the US President (who was rescued by The Unit from assassination by terrorists) bombs Venezuela in retaliation for “The President of Venezuela” ordering the NUCLEAR strikes on the States for the Yanks trying to kill him (bit of the Condor here)! Basically The Unit “screwed up” over the attempt in Venezuela.

    But the laugh, as usual, is that ALL the actors close their eyes when firing the weapons AND they still hit the target and never miss.

    However as usual, the Yanks came out on top. So that’s OK! Always good for a laugh.

    Feb 01st, 2014 - 10:20 pm - Link - Report abuse 0
  • Captain Poppy

    #37 As I said in opening no one is going to invade Argentina. And you never se me posting about invading, killing Argentines, nuking them, sending sending a force there. However there is the one angry and old English persona wanting to conquer SA by always wanting to send the royal marines, all your subs even nuking Argentina. He seems to be a very disturbed persona.

    I am sure he has never been to his hated country or continent.

    Feb 01st, 2014 - 11:58 pm - Link - Report abuse 0

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