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Argentina approves new hydrocarbons bill to attract foreign investments

Friday, October 31st 2014 - 07:51 UTC
Full article 17 comments

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


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  • ChrisR

    I bet it doesn't vouchsafe the investor's money from robbing by the state.

    Oct 31st, 2014 - 10:53 am - Link - Report abuse 0
  • yankeeboy

    They're going to be talking about the potential of VM in a decade.
    As most of the people have to switch to horses for transportation and oxen to plow the fields.

    Oct 31st, 2014 - 10:57 am - Link - Report abuse 0
  • chronic

    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 0
  • CabezaDura2

    BritishKirchnerists exists, he is real born in the UK Kirchnerist and ..........11 years old.

    Oct 31st, 2014 - 04:17 pm - Link - Report abuse 0
  • ChrisR

    @ 4 CabezaDura2

    No, I don't think so, he has more sense than BK!

    Oct 31st, 2014 - 05:58 pm - Link - Report abuse 0
  • lornefirth

    I think China will regret this deal.

    Oct 31st, 2014 - 08:27 pm - Link - Report abuse 0
  • The Voice

    Who 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 0
  • Captain Poppy

    Not to mention starting a new shale operation is expensive in and the market prices are not in thgeir favor.

    Oh and 2.94 a gallon

    Oct 31st, 2014 - 09:04 pm - Link - Report abuse 0
  • Briton

    Welcome welcome my friendly investors, welcome to a new argentine,
    if you succeed we will nationalise you,
    if you fail we will deport you, welcome,,lol

    Nov 01st, 2014 - 12:42 am - Link - Report abuse 0
  • CabezaDura2

    How 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.

    Nov 01st, 2014 - 11:53 am - Link - Report abuse 0
  • ilsen

    May I just remind everyone that Argentina still owes British Gas Group Plc $2.44 million from 2002?
    This 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?

    Nov 01st, 2014 - 01:16 pm - Link - Report abuse 0
  • hurricane

    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 0
  • CabezaDura2

    I 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.

    Much 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.

    Nov 01st, 2014 - 02:50 pm - Link - Report abuse 0
  • ChrisR

    @ 10 CabezaDura2

    Did 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.

    Nov 01st, 2014 - 03:25 pm - Link - Report abuse 0
  • CabezaDura2

    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
  • ilsen

    @11 my post
    should have read $244 million. The lying, cheating deadbeats.

    Nov 01st, 2014 - 10:06 pm - Link - Report abuse 0
  • golfcronie

    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 0

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