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YPF wants to create a G10 of Latin American state oil companies CEO's

Friday, May 16th 2014 - 09:37 UTC
Full article 30 comments

Argentina's YPF CEO Miguel Galuccio proposed on Thursday in Bolivia a G10 of Latin American state owned oil corporations to strengthen their bargaining power based on their resources and development synergy. Read full article

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  • ElaineB

    I can see the point of this: Argentina alone has almost no bargaining power because of its reputation.

    Of course, it will never work.

    May 16th, 2014 - 10:08 am - Link - Report abuse 0
  • CabezaDura2

    I think its more like a new Latam mini OPEC they are trying to emulate, the same as Bolivia and Argentina are trying to do with lithium.

    May 16th, 2014 - 10:41 am - Link - Report abuse 0
  • Briton

    But if Argentina has no oil, what's the point, unless she wants control,
    [ does Argentina have its own oil,-]

    And will the Falkland's be included in all this,..

    May 16th, 2014 - 10:59 am - Link - Report abuse 0
  • ElaineB

    Yes, Argentina has oil but lacks the expertise and investment to get it out of the ground.

    May 16th, 2014 - 02:15 pm - Link - Report abuse 0
  • ChrisR

    Galuccio knows full well that the ONLY way other oilmen will meet with him is if he can drum up some wheeze like this.

    And as for “that could end up as G12, of presidents of state owned companies” is he trying to get TMBOA at the table?

    Are there 12 presidents that have state owned oil companies? I do hope not.

    May 16th, 2014 - 04:33 pm - Link - Report abuse 0
  • yankeeboy

    But Diego said a Multi Billion dollar investment would be announced imminently?!
    How odd we've not heard anything yet.

    Poor Diego, he probably doesn't realize that even private planes are tracked in the USA and anyone can see their intended destinations. The night he claimed to be flying from Houston to Arg nary 1 private plane was going there n a 12 hr window. Such a fool.

    May 16th, 2014 - 05:41 pm - Link - Report abuse 0
  • Conqueror

    I love to see stuff like this. “Let's drum up a new organisation”. How many multinational organisations does latam and sadam have now? Don't they get confused? According to Unasur resolution.... Overtaken by ALBA resolution.... But Mercosur says..... But CAN says..... And all the little subsidiary self-important nonenties.

    May 16th, 2014 - 06:21 pm - Link - Report abuse 0
  • reality check

    I have a suggestion for a name.

    LOL EC!

    May 16th, 2014 - 07:10 pm - Link - Report abuse 0
  • Briton

    4 ElaineB
    Thanks for that info..

    May 16th, 2014 - 07:45 pm - Link - Report abuse 0
  • BOTINHO

    Mr. Morales, given his actions over the past few years is not trusted by Brasil.
    He has included Petrobras in past nationalizations by his decree, which we have not forgotten.

    The idea behind this “ Mini-Opec ” is power, to be used as a weapon. Make no mistake. “ Bolivia's president said that having energy is power. ” There is the key phrase.

    Mr. Morales now boasts of the access to Nuclear power, courtesy of Argentine, French, and possibly Chinese technicians. Very responsible, boasting about it now. And, oh yes, do not forget to bring Venezuela, ALBA, and the Cubans into the fold. Provide them access to atomic power too.

    ” What we affirm is that we must proceed along the path of liberation even if this costs millions of atomic victims.” - What shining South American is quoted here, and seen on countless T-shirts worn by the youth of today ?

    Pure lunacy.

    May 16th, 2014 - 08:24 pm - Link - Report abuse 0
  • ChrisR

    @ 10 BOTINHO

    It won't get to that, the US, the UK and probably Russia itself will never let it.

    There are likely to be many casualties however, all of the Cowpats © ChrisR 2012 citizens for a start.

    We have enough third world countries with nuclear weapons, we don’t need any more. Do you think he means nuclear power (electricity) as it seems many LatAms do not know WTF they are on about, on many subjects besides this.

    May 16th, 2014 - 09:52 pm - Link - Report abuse 0
  • El Diego

    And why not - the largest reserves in the world are here in Latin America and the biggest oil companies in the world Latins - Pemex, PDVSA, Ecopetrol, Petrobras and YPF - what a combination. - it doesn't come more powerful than that and will be great for business. Galuccio is quite the visionary and emerging as a real leader the world of petroleum

    Anyway my financial people just confirmed to me record revenues this month from our oil and gas business in Argentina thanks to the drilling boom

    This weekend I will be celebrating those record incomes at the ranch fishing and sampling our latest Malbecs with my Brazilian girl friend - hugs and kisses you you all

    May 17th, 2014 - 12:53 am - Link - Report abuse 0
  • BOTINHO

    Hi ChrisR -

    I don't think so any more. Pandora's box has already been opened, courtesy of the good Dr. Khan, and others of his ilk..

    Iran has enormous oil reserves, all one could want for a nation. The pretext for the present Iranian nuclear facilities development back in 1979, including mass accelerators, was “ energy and medicine. ” Hear of any of that talk lately ?

    Any problems or concerns about Iranian nuclear intentions lately ?

    Any problems or concerns about North Korea ?

    May 17th, 2014 - 01:55 am - Link - Report abuse 0
  • bushpilot

    Isn't Argentina the country that is screwing up that other regional organization Mercosur?

    Would any other LA country being invited by Argentina to join a regional organization not be aware of how this inviter has hampered its neighbors economic relations on the global level, not helped them?

    May 17th, 2014 - 03:35 am - Link - Report abuse 0
  • golfcronie

    @4
    Having lived in Argentina a few years I agree with you, but would add that the complete lack of maintenence does not help. I have seen so many “ nodding donkeys” that have huge pools of oil surrounding them that they need to clear these pools before being able to get anywhere near them. Too much hassle, best walk away. Argentinian logic I am afraid, if it looks like a difficult task walk away.

    May 17th, 2014 - 05:53 am - Link - Report abuse 0
  • yankeeboy

    12. Diego, Did you know the day you claimed to be leaving Houston on a private jet there was nary a 1 going to Argentina.
    Care to clarify?
    Or will you desperately cling to your many lies?
    You make my skin crawl like Think, Voice and Vestige.
    I wonder what the connection is?

    May 17th, 2014 - 10:29 am - Link - Report abuse 0
  • El Diego

    Yankee - yes we travelled in the jet overnight and had a stop over in Brazil to pick up Giselle - Houston was good and was good to see Latino culture establishing itself there and bringing some finessse and style to an otherwards somewhat culturally lacking and backward people. Needless to say our group of Latinos thrashed the local Houston Polo team -

    May 17th, 2014 - 12:12 pm - Link - Report abuse 0
  • yankeeboy

    Oh so now you went to Brazil last week you said you were going to Argentina.

    Liar.

    May 17th, 2014 - 12:48 pm - Link - Report abuse 0
  • El Diego

    My dear friend Yankee - study your geography again and you will see that one of the countries that is next to Argentina is a big portuguese speaking country called Brazil.......I know geography and international travel is not a strong point with Americans but come on.......

    May 18th, 2014 - 12:18 am - Link - Report abuse 0
  • yankeeboy

    What a silly fool you are. I don't know who you think you are kidding. First you said you were overnighting to Argentina and when I pointed out no private planes left Houston that night for Argentina you said oh yeah we swung by Brazil to pick up a hooker. Yeah okay.
    Not only are a lunatic you are a terrible liar and a
    Loser

    May 18th, 2014 - 12:27 am - Link - Report abuse 0
  • El Diego

    Yankee - now I have my own little yankee stalker following my activities !

    thats normally reserved for movie stars in USA - that said I had some investments in Argentina film industry that did really well but I never got this level of attention before in USA - I feel like a real celebrity from USA now! hahaha

    kisses from Giselle - she had a laugh at you calling her a hooker! A brazilian super model hooker - hahaha - we thought that was really funny yankee

    big hugs and kisses from us both my friend - its a lovely day here in Buenos Aires today - we are having breakfast on the terraza before we head off out on the horses

    May 18th, 2014 - 12:20 pm - Link - Report abuse 0
  • reality check

    Walter El Mitty.

    ???????????????

    Methinks.

    May 18th, 2014 - 02:25 pm - Link - Report abuse 0
  • El Diego

    INVEST IN ARGENTINA JUST LIKE THE BIGGEST OIL COMPANIES IN THE WORLD LIKE SHELL, EXXON AND CHEVRON - THE VACA MUERTA TRAIN IS LEAVING THE STATION...........DONT MISS THE TRAIN

    May 18th, 2014 - 05:52 pm - Link - Report abuse 0
  • CabezaDura2

    I dont think Shell and Exxon wll be investing untill the civil war between the provinces and the national government is over.

    May 18th, 2014 - 06:03 pm - Link - Report abuse 0
  • yankeeboy

    No Diego I am not stalking you.
    I couldn't care less about an uneducated latino.
    I am just pointing out that you lie and you are not even smart enough to come up with good lies.

    May 18th, 2014 - 06:36 pm - Link - Report abuse 0
  • bushpilot

    @25 YB

    You don't take El Diego seriously?

    He's dating Gisele Bündchen. Shouldn't a guy dating a model like that be taken seriously?

    Anybody that tells me they're dating a supermodel, I'm going to really pay attention to what they have to say.

    El Diego is dating Gisele Bündchen and he says invest in Argentina. That is a pretty strong tip. Don't you want to invest in Argentina now?

    May 18th, 2014 - 09:18 pm - Link - Report abuse 0
  • ChrisR

    @ 26 bushpilot

    I'd rather invest in Gisele Bündchen, nod, nod, wink, wink, do you know what I mean? :o)

    May 18th, 2014 - 09:30 pm - Link - Report abuse 0
  • CJvR

    A rather feeble attempt at a powergrab. I doubt even the Mercosur wimps would be willing to hand the Argies any real authority over anything that matters.

    May 19th, 2014 - 02:47 pm - Link - Report abuse 0
  • ynsere

    I can imagine the likes of just who will join YPF's “G-10”. Don't forget Raúl Sendic, the former president of Uruguay's disastrous ANCAP monopoly, who seems to have misplaced 150 million USD.

    May 20th, 2014 - 07:57 am - Link - Report abuse 0
  • ChrisR

    @ 63 ynsere

    “disasterous ANCAP monopoly” is a very gentle way of putting it.

    Another US$ 50 for every man women and child to pay for the Tupas then.

    May 20th, 2014 - 05:52 pm - Link - Report abuse 0

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