MercoPress. South Atlantic News Agency

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  Brit Bob

  Meanwhile offshore - ''This is a historic opportunity for Argentina. We have taken a great step in the demarcation of the outer limit of our continental shelf; the most extensive boundary of Argentina and our border with humanity,'' Foreign Minister Susana Malcorra, 27th March 2017.
  
  But what happened next....?
  
  Argentina's Continental Shelf Claims and The UN CLCA Commission (1 page):-
  https://www.academia.edu/33898951/Argentinas_Continental_Shelf_Claims_-The_UN_CLCS_Commission

  Jul 20th, 2017 - 10:13 am - Link - Report abuse 0
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  Marti Llazo

  Even the Chinese are now pulling out of the petroleum business in Argentina. The subsidies that the national government was offering aren't enough to offset the negative factors of trying to deal with costs and other conditions here. The subsidies were helping to bankrupt the country anyway and worsening the deficit spending situation. But the biggest Chinese petroleum operation (Sinopec) said that the outrageous argie salaries and constant labour-union conflict here, including the workers blocking access to the oil-patch access roads, are what ultimately caused them to halt petroleum operations in Chubut and Santa Cruz provinces. The “workers” basically canceled their own jobs.
  
  There is some coverage of it here: “Sinopec se excusa en la baja rentabilidad para frenar sus inversiones en Santa Cruz” (Sinopec tried to be nice about it by claiming that the work was “unprofitable” due to low market prices, but they also detailed how the argentines' own efforts made their investments unproductive. ).

  Jul 21st, 2017 - 02:45 am - Link - Report abuse 0
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  imoyaro

  Wow, Chinese cupidity defeated by Viveza criolla? I'm impressed!

  Jul 21st, 2017 - 05:30 am - Link - Report abuse 0
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  Marti Llazo

  Apparently when the president of the Chinese Sinopec group was trapped along with other of their executives by argie labour-union hooligans, that was the last straw. Note that the company spokesman indicated that the company could not press forward with their investment plans due to the instability and anarchy in this province (considering that this province has a Kirchner for a governor, instability and anarchy are probably the kindest things that can be said about conditions right now).
  
  It costs about 20 percent more to deliver a comparable barrel of oil in Argentina, due to the excessive costs of supplies and labour here.
  
  https://www.cronista.com/negocios/Sinopec-suspendio-inversiones-20170721-0065.html

  Jul 21st, 2017 - 01:42 pm - Link - Report abuse 0
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