Hugh's Feed
Apr 16, 2015

Argentina’s YPF sees cost of Vaca Muerta drilling falling 10 pct

EZEIZA, Argentina, April 16 (Reuters) – The cost of drilling
in Argentina’s vast but barely tapped Vaca Muerta shale
formation will fall at least 10 percent by the end of 2016,
state energy company YPF said on Thursday, part of an efficiency
effort aimed at attracting much-needed investment.

The cost drop is expected to start in August when Argentina
starts using its own sand in fracking, the process by which
shale oil is extracted, rather than more expensive imported
sand, YPF’s Chief Executive Officer Miguel Galuccio said.

Apr 9, 2015

Argentina shale a ‘good play,’ but state controls deter

PUNTA DEL ESTE, Uruguay, April 9 (Reuters) – Argentina’s
Vaca Muerta shale formation is “a good play,” but government
economic controls must be lifted and costs slashed if
investments are to flow into the barely tapped field, said an
executive at a subsidiary of France’s Total.

President Cristina Fernandez’s interventionist policies have
scared the most risk-hungry companies out of making anything but
foothold investments in what is viewed as one of the biggest
shale reserves in the Western Hemisphere.

Apr 9, 2015

Argentina shale a ‘good play,’ but state controls deter

PUNTA DEL ESTE, Uruguay, April 9 (Reuters) – Argentina’s
Vaca Muerta shale formation is “a good play,” but government
economic controls must be lifted and costs slashed if
investments are to flow into the barely tapped field, said an
executive at a subsidiary of France’s Total.

President Cristina Fernandez’s interventionist policies have
scared the most risk-hungry companies out of making anything but
foothold investments in what is viewed as one of the biggest
shale reserves in the Western Hemisphere.

Apr 9, 2015

Argentina’s Vaca Muerta shale output rises to 45,000 bpd

PUNTA DEL ESTE, Uruguay, April 9 (Reuters) – Argentina’s
shale oil output from the vast but barely tapped Vaca Muerta
formation has increased, but low world oil prices and high
drilling costs threaten profitability, the chief executive of
state-run YPF said on Thursday.

YPF has said the slump in international oil prices over the
last year has had no impact on the company’s exploration plans,
defying the industry trend of multinational giants announcing
multibillion-dollar spending cuts.

Apr 7, 2015

Dry weather seen keeping Argentina on track to record soy crop

BUENOS AIRES, April 7 (Reuters) – Dry weather in Argentina’s
main soy-growing area is forecast to last another two to three
weeks, keeping the grains powerhouse on track toward an expected
record crop likely to weigh on already sagging world food
prices.

In the heart of the farm belt – including parts of Entre
Rios, Santa Fe, Cordoba, La Pampa and Buenos Aires provinces -
ample yields have formed and are ready to be harvested. The area
produces about 80 percent of Argentina’s soy and corn crop.

Apr 6, 2015

Regulators enter Citibank Argentina building as debt feud heats up

BUENOS AIRES, April 6 (Reuters) – Argentine central bank
regulators entered Citibank Argentina’s headquarters on Monday,
as the battle intensified between the government and a group of
U.S. hedge funds who refuse to accept discounted payment terms
on the country’s defaulted debt.

Argentina’s securities regulator says Citibank Argentina
violated local laws by striking a deal with the hedge funds. It
has suspended the bank from conducting capital market operations
and stripped authority from its chief executive.

Apr 6, 2015

Regulators sent to Citibank Argentina as debt battle heats up

BUENOS AIRES (Reuters) – Argentina’s central bank sent
regulators to Citibank Argentina’s headquarters on Monday, as
the battle intensified between the government and a group of
U.S. hedge funds who refuse to accept discounted payment terms
on the country’s defaulted debt.

Argentina’s securities regulator says Citibank Argentina
violated local laws by striking a deal with the hedge funds. It
has suspended the bank from conducting capital market operations
and stripped authority from its chief executive.

Apr 3, 2015

UK spied on Argentina over Falklands from 2006 to 2011: media

BUENOS AIRES (Reuters) – Britain spied on Argentine military and political leaders to ensure the security of the Falkland Islands from 2006 to 2011, according to a local television channel, citing intelligence documents provided by U.S. whistle blower Edward Snowden.

Channel TN (TN.com.ar) said it got the documents from a team of reporters in Brazil who have been working with Snowden.

Apr 2, 2015

Argentina to Britain: spend money on the poor, not the Falklands

BUENOS AIRES (Reuters) – Britain should spend more helping its own poor than on defending the Falkland Islands, Argentine President Cristina Fernandez said on Thursday, responding to a recently-announced budget increase aimed at protecting the contested archipelago.

Britain’s government said last week it would reinforce its military presence on the Falklands to counter the “very live threat” posed by Argentina.

Apr 1, 2015

Prosecutors push again to investigate Argentine leader in bombing case

BUENOS AIRES (Reuters) – Argentine prosecutors pushed for a conspiracy investigation against President Cristina Fernandez on Tuesday in the second appeal of a court decision that cleared her of trying to derail the investigation into a deadly 1994 bombing.

The accusation, that Fernandez conspired to cover up Iran’s alleged role in the bombing of the AMIA Jewish community center in Buenos Aires, threw her administration into turmoil when it was leveled on Jan. 14 by state prosecutor Alberto Nisman.