MercoPress. South Atlantic News Agency
![“It is not that [Gallo's] mission has been aborted. We have given him a hard blow thanks to the State security agencies,” Cabello underlined](/data/cache/noticias/102697/130x80/diosdado.jpg)
Argentina approves new hydrocarbons bill to attract foreign investments
Argentina's lower house of Congress, which is controlled by President Cristina Fernandez's allies, gave final approval Thursday for a new Hydrocarbons Law that was harshly criticized by opposition lawmakers. The lower house passed the bill with a vote of 130-116 with one abstention after more than 14 hours of debate. Read full article
Comments
Disclaimer & comment rulesI bet it doesn't vouchsafe the investor's money from robbing by the state.
Oct 31st, 2014 - 10:53 am - Link - Report abuse 0They're going to be talking about the potential of VM in a decade.
Oct 31st, 2014 - 10:57 am - Link - Report abuse 0As most of the people have to switch to horses for transportation and oxen to plow the fields.
Of no consquence. No one is going to drilling that junk in rotting roadkill while the prices trend lower.
Oct 31st, 2014 - 12:44 pm - Link - Report abuse 0BritishKirchnerists exists, he is real born in the UK Kirchnerist and ..........11 years old.
Oct 31st, 2014 - 04:17 pm - Link - Report abuse 0http://www.taringa.net/posts/noticias/18232440/Intelectual-k-Casey-Wander-adora-a-Nestor.html
@ 4 CabezaDura2
Oct 31st, 2014 - 05:58 pm - Link - Report abuse 0No, I don't think so, he has more sense than BK!
I think China will regret this deal.
Oct 31st, 2014 - 08:27 pm - Link - Report abuse 0Who would risk drilling in Argentina? Any worthwhile discovery would be immediately nationalised (stolen) by the corrupt government. As it is many potential exploration companies are ruled out because they are drilling of the Falkland Islands.
Oct 31st, 2014 - 08:36 pm - Link - Report abuse 0Not to mention starting a new shale operation is expensive in and the market prices are not in thgeir favor.
Oct 31st, 2014 - 09:04 pm - Link - Report abuse 0Oh and 2.94 a gallon
Welcome welcome my friendly investors, welcome to a new argentine,
Nov 01st, 2014 - 12:42 am - Link - Report abuse 0if you succeed we will nationalise you,
if you fail we will deport you, welcome,,lol
5.
Nov 01st, 2014 - 11:53 am - Link - Report abuse 0How come an 11 year old English kid end up brainwashed with Kirchnerism and make national headlines ??? Bet there is a story to that one.
But beyond me of course.
May I just remind everyone that Argentina still owes British Gas Group Plc $2.44 million from 2002?
Nov 01st, 2014 - 01:16 pm - Link - Report abuse 0This due to Argentina reneging on a deal specifically designed to encourage foreign investment in the energy sector!!!!!!!
This bill will have zero effect. Who would be stupid enough to invest now?
Vaca muerta is for YPF only. They don't need real economics as do REAL oil companies. Add up what you invested, subtract what you received and if it is substantially positive, then you have made a profit. This is very different from , ”drill as fast as we can print the worthless peso since every barrel of oil that you produce is one less than we have to pay REAL money for that we don't have. All the while REAL oil companies sit back and wait to see who the next thieves are that will take over, for oil prices to recover (which never will) and for new technology that will bring the drilling and completion price down. This is 10 years in the making.
Nov 01st, 2014 - 02:09 pm - Link - Report abuse 0I think YPF needs to be privatized again or simply dissolved, and give international oil companies the concession to exploit VM and other non conventional deposits.
Nov 01st, 2014 - 02:50 pm - Link - Report abuse 0Much easier said than done by politicians in a populist and indoctrinated country like Argentina.
The reason why it was privatized in the early 90s in the first place was that it was a money waster and production and investment was in decline.
@ 10 CabezaDura2
Nov 01st, 2014 - 03:25 pm - Link - Report abuse 0Did you see some of the comments in Clarin? I think you would have had support for a little “background” fiddling with the story to jazz it up a bit.
14 Nahhh he is British born according to Zloto and Tenembaum. I didnt do much research on him but I know he got ciber bullied. Thats to bad, but its his parents fault for brainwashing him and exposing him
Nov 01st, 2014 - 04:18 pm - Link - Report abuse 0@11 my post
Nov 01st, 2014 - 10:06 pm - Link - Report abuse 0should have read $244 million. The lying, cheating deadbeats.
I'll bet that bill has pissed off Chevron as they have invested US$ 1 billion in “ PATA MUERTA ”. Will the Argie Government make it retrospective, no, don't think so!
Nov 03rd, 2014 - 07:46 am - Link - Report abuse 0Commenting for this story is now closed.
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