Observers say an Argentine's court decision last week to uphold a $19B embargo against Chevron's...

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Grampa Jim Comments (83)
 
Something tells me either a plain brown envelope DIDN'T change hands when "prompted," or it will soon. What kind of dumpkopfs are these Argentines?
4 Feb, 04:00 PM Reply Like

bushwacker1 Comments (12)
 
They want the assets after you have built them. Graft is chump change
5 Feb, 12:31 AM Reply Like

Bill Simpson 451 Comments (66)
 
If they could be trusted, the Chinese would already be in there big time.
4 Feb, 04:38 PM Reply Like

Uncle Pie Comments (1583)
 
The Vaca Muerta (dead cow) will likely remain dead. No one will put money into a country which appropriates assets.
4 Feb, 06:36 PM Reply Like

rv3lynn Comments (284)
 
YPF will have to partner with the Mafia to get these wells drilled.

But you know what happens when you steal from the Mafia!
4 Feb, 09:45 PM Reply Like

smurf Comments (2170)
 
"...........makes it unlikely the company will pour money into the country."

Gee, ya think?

Every country in South America except Chile, and MAYBE Brazil is a bona-fide banana republic. Deals with these clowns as well as just about every country in Africa invariably end badly.
4 Feb, 11:51 PM Reply Like

bushwacker1 Comments (12)
 

As the world moves closer to financial chaos, third world countries will begin to look closer at the fact that exploitation of resources is enriching others and not the country itself. In addition, the growing influence of socialism, will force countries to look for more money to fund new and expanded social programs. In addition, natural tendencies of greed and corruption will cause more and more of these types of actions. One should study the economic history of Argentina to learn more. Didn't they just snatch oil assets from a Spanish oil company? Look for the same in Mexico, Latin America, Africa, China and India. Buy American.
5 Feb, 12:31 AM Reply Like

llljohn Comments (2)
 
Chevron
The court rulings etc will dissolve into nothingness in appeals etc. Which it already is. It is simply leverage of one partner (YPF) on another. If Argentina cannot be trusted for investment (heard so often), why would we trust they will set-up enforcement of court rulings? Huh?
The gov & court are synomymous & part of the ruling. ...in a month etc from now this will be a forgotten blip.


PS. China has invested in some of the least trustworthy, shakiest, unstable countries in world: sub-Sahara Africa.
5 Feb, 10:17 AM Reply Like

llljohn Comments (2)
 
BTW- The Chinese ARE already in there ..thru their partnership with Bridas (1.5 B in YPF announced last month):


May 2010 China National Offshore Oil Company Limited (CNOOC Ltd) has closed a $3.1 billion deal with Argentina-based Bridas Energy Holdings (BEH) to buy a 50 percent stake in Bridas Corporation, a wholly owned subsidiary of BEH before the deal.

Bridas Corporation, with oil and gas exploration and production operations in Argentina, Bolivia and Chile, is now a 50-50 joint venture between CNOOC Ltd and BEH.
6 Feb, 04:12 AM Reply Like