MercoPress. South Atlantic News Agency
YPF goes overseas: signs agreement with Ecuador to recover mature fields
Argentina's state-run energy company YPF closed on Wednesday an agreement with Ecuador's state-owned company Petroamazonas for the enhanced recovery of the mature field of El Campo Yuralpa which will demand an investment in the range of 170 million dollars. Read full article
Comments
Disclaimer & comment rulesThey left out the part about bags full of $100 bills for everyone who attended the meeting. Everyones happy.
Oct 09th, 2014 - 10:46 am - Link - Report abuse 0For a country that professes to be skint,
Oct 09th, 2014 - 11:58 am - Link - Report abuse 0where are they going to get 170 million from
CFKs bank account perhaps.
Would be better for YPF to invest in Argentina unless of course they will get cheap oil.
Oct 09th, 2014 - 12:13 pm - Link - Report abuse 0I don't see what the problem is?
Oct 09th, 2014 - 03:28 pm - Link - Report abuse 0Everything is going spiffingly well since the seizure.
I am not referring to an ecomic heart attack, or maybe I am.
$17 million a whack. Someone is making off like a bandit. And they're going drill it with used iron?
Oct 09th, 2014 - 04:01 pm - Link - Report abuse 0Lots of discussion about the blue recently and a lot of dummieheads that still don't get it. The blue is a mechanism to convert/export pesos to US dollars via the rotting roadkill stock market and a series of short term in and out transactions purchased with pesos and liquidated in dollars. Clear? The blue tries to move with the Merval. The Merval has been bouyed by world markets but is driven down by the action or threat of action by rotting roadkill. Cretina's realignment at the banco and the prospect of new regs for the borsa are reflected in the downward spikes. To exacerbate these pressures, rotting roadkill's productivity is now experiencing a marked downturn. So much so that the micro fundamentals are now beginning to offset the market impulsion the woulod otherwise be present due to the incendiery winds of inflation.
Look out for a crash and depression.
I see the Russians are in deep trouble with the rouble, the major gas companies will have to pay back their loans in US$ bit like Argentina really, they may default also.
Oct 09th, 2014 - 04:34 pm - Link - Report abuse 0Oh they are in trouble alright. Of their own making.
Oct 09th, 2014 - 06:00 pm - Link - Report abuse 0Just can't understand why they would throw away the progress of the last twenty years.
The only answer can be nationalism.
Ring any bells.
It's stupid. These people are above us are stupid!
““It seems the right moment to return to the international arena next to a company such as Petroamazonas which has experience as an operator, a strong national rooting and a work philosophy similar to ours. It's an important challenge and we believe that with this joint effort we can have good results”, said YPF's CEO Miguel Galuccio.”
Oct 10th, 2014 - 06:09 pm - Link - Report abuse 0In other words: “we have NFC of getting oil OR gas out of the dead cow and The Mad Cow is desperate for dollars. Have you noticed how my head is disappearing into my shirt collar? I have to get some money back soon or TMBOA will use a bigger mallet to hit me with next time and I am afraid my head will disappear”
He went on to say “I have been holding several meetings with Exxon-Mobil and they were going well until last month in New York TMBOA herself turned up and demanded a payment up front and blew it, after blowing the chairman of EM”
I know it’s all made up but that id no different to what Galuccio says and my version MAY be true, unlike his. :o)
This makes no sense. As long as YPF drills domestically, they are paying in Pesos and that are still wet from fresh printing. There IS NO COST to drill oil and produce it in Argentina. On the other hand do you think Ecuador wants pesos? It makes no sense, and when things make no sense, it's because there is something else going on. The dollars that Ecuador is talking about are REAL DOLLARS. Therefore it is a way for politicos to change pesos for dollars and get them out of the country to a place that is safe from detection. Ecuador is as corrupt as Argentina and are the perfect accomplice to have.
Oct 12th, 2014 - 01:21 pm - 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!