tag:blogger.com,1999:blog-123215852011-08-26T09:08:29.533-03:00Business news, legal developments and current concerns of the oil and gas industry in ArgentinaAlejandro Candiotinoreply@blogger.comBlogger1131100tag:blogger.com,1999:blog-12321585.post-42366497810411369002010-11-28T08:00:00.004-03:002010-11-28T16:19:25.585-03:00

Bridas Corporation, jointly owned by Argentine and Chinese interests, said Sunday it took control of Pan American Energy LLC, purchasing supermajor BP's 60 percent stake in the company, Argentina's second-largest producer of oil and gas. The $7.06 billion cash deal, however, excludes Pan American Energy E&P Bolivia Limited, which has operating assets in Bolivia, Bridas Corporation said.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-24353949398651703792010-11-17T18:00:00.001-03:002010-11-28T16:26:12.371-03:00

Argentina’s billionaire Eskenazi family plans to boost its 15.4 percent stake in Repsol YPF SA’s local unit as early as next month to take advantage of falling borrowing costs, a person familiar with the situation said. The Eskenazis’ Petersen Group will pay about $1.3 billion for an additional 10 percent stake in Buenos Aires-based oil producer YPF, said the person, who declined to be

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-43782735469935470532010-11-09T08:00:00.000-03:002010-11-28T16:30:23.932-03:00

U.S. producer Apache said Friday it plans to drill a well by year-end to test shale gas potential in the La Calera field of the Neuquen Basin. The area already hosts conventional oil and gas production. A few year's back Argentina would have been the last place on Earth for any kind of gas play. Let alone an experimental shale gas test. Government price fixes in country have resulted in one of

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-33061281028459852412010-03-10T03:00:00.000-03:002010-03-10T04:38:18.378-03:00

Argentine oil company YPF has said that it plans to import 50 million litres of gasoline as demand outstrips supply in the South American nation.Argentina, an oil-producing country where fuel is subject to government price controls, has not imported gasoline in 30 years.'Everyone is putting less fuel on the market, except YPF,' Corporate Communications Director Sergio Resumil said Tuesday,

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-69614599505957250722010-01-14T08:00:00.001-03:002010-01-15T08:05:52.409-03:00

Spain's Repsol does not intend to sell a stake in its YPF unit to any industrial partner from outside Argentina and sees no need to tap markets for cash, the oil group's chairman told Reuters Insider TV."We have the support of the Argentine authorities for an IPO, or for finding other partners to join us, provided that we .... create a normal capital structure for YPF which gives a more Argentine

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-18578063768823225032010-01-08T08:08:00.001-03:002010-01-15T08:10:50.790-03:00

SummaryBolivia has the second largest natural gas reserves in South America after Venezuela, which makes it the major exporter of natural gas in the region. Bolivia’s economy is largely driven by export of natural gas to its neighboring countries. Argentina and Brazil are the major export markets for its natural gas. These exports are bound by supply agreements, the first of which was signed

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-85293876421717941512010-01-04T08:00:00.001-03:002010-01-15T08:18:54.635-03:00

Argentina's government on Monday authorized Occidental Petroleum Corp. (OXY) to sell natural gas at higher-than-normal rates under the "Gas Plus" program, according to the official gazette.The authorization applies to Occidental's Sur Piedra Clavada gas field at the San Jorge basin in the southern province of Santa Cruz.The Gas Plus program aims to give companies a financial incentive to explore

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-56158493345483125532009-12-02T08:00:00.000-03:002009-12-02T13:08:20.920-03:00

Oil company YPF, the Argentine unit of Spain’s Repsol YPF, said on Tuesday it discovered an oil field in the western province of Neuquen.The field is in the La Caverna area, which covers 46,600 hectares (115,061 acres), YPF said.The first two wells drilled in the area have yielded average production “well above” the average in that part of Neuquen, which is in Patagonia, since production started

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-55224658196421996992009-11-27T08:00:00.000-03:002009-11-27T08:23:46.669-03:00

Repsol's Argentine unit YPF (REP.MC: Quote, Profile, Research)(YPFD.BA: Quote, Profile, Research) announced an increase in its proven crude reserves of more than 300 million barrels of oil equivalent on Thursday, bucking a downward trend in the country.YPF, Argentina's biggest energy company, said it had also increased its contingent crude resources by 500 million barrels of oil equivalent (boe)

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-3843303087088900582009-11-19T20:00:00.000-03:002009-11-20T01:55:38.762-03:00

Pampa Energia S.A. ("Pampa") announces that its subsidiary Petrolera Pampa S.A. ("PEPASA") has accepted an offer from YPF S.A. ("YPF") to enter into an investment agreement (the "Agreement") regarding the exploitation block known as "Rincon del Mangrullo" (the "Area"), which was formerly part of the Neuquen Basin Area IX, located in the Province of Neuquen and over which YPF holds an Exploitation

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-34861629565062728452009-11-12T12:00:00.001-03:002009-11-12T12:13:36.524-03:00

US-based oil and gas company Apache has announced that Argentina's Federal Energy Secretariat has approved Apache Argentina's Gas Plus project to supply 10 million cubic feet per day from the Guanaco and Ranquil-Co fields in the Neuquen province to CAMMESA at a price of $4.10 per million Btu for one year beginning in January 2010.Apache has said that the approval is its second under the Argentine

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-81833122075863259802009-11-06T21:00:00.001-03:002009-11-06T21:46:22.238-03:00

According to the announcement by the country Ministry of Industry and Tourism recently, Argentina would start anti dumping investigation into steel pipes originating in China and its domestic enterprises could submit evidence within ten workdays.Products under investigation are seamless pipes and welded pipes imported from China with outer diameter of less than 10.75 inches, which are used in

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-60753110286220175332009-11-05T16:00:00.001-03:002009-11-05T16:17:29.513-03:00

Argentina will increase the purchase from 6 to 14 million cubic meters per day of natural gas to Bolivia, informed today Oscar Coca, minister of Hydrocarbons of Bolivia.According to him they expect now to solve some technical problems to increase volumes of production. Coca stated Argentinean part ratified its possition to acquire more gas.He explained there is a technical problem in a gas

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-18368215399696631282009-10-31T12:00:00.001-03:002009-10-31T12:50:55.402-03:00

Royal Dutch Shell Plc is to delay investments in information technology systems at its downstream oil refining and fuel marketing unit to cut costs, a Shell protestors' website said on Friday, citing a leaked internal email.The Royaldutchshellplc.com website said U.S., Brazil, Argentina and Chile units would be affected.No one at Shell was immediately available for comment.Source: Reuters

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-59489254969128744362009-10-29T12:55:00.001-03:002009-10-29T12:58:08.804-03:00

Capstone Turbine Corporation (www.capstoneturbine.com), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it has added Fluid Control Systems S.A. in Argentina to its growing list of distributors around the globe.Fluid Control Systems S.A., headquartered in Buenos Aires, is Capstone's second distributor in Argentina. The company offers extensive

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-41955179487215353312009-10-28T07:00:00.000-03:002009-10-28T07:04:16.156-03:00

Uruguay, Paraguay and Bolivia are in talks with the World Bank for a loan to finance a natural-gas pipeline shared by the three countries, Uruguay’s deputy minister for industries, energy and mining said. “The World Bank is committed to helping the three countries finance the project,” Minister Roberto Kreimerman, said in an interview in his Montevideo office on Oct. 26. “This is a solid project,

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-52342182506285526812009-10-27T19:00:00.001-03:002009-10-27T19:36:12.789-03:00

British oil exploration company Rockhopper has raised the cash it needs to start drilling for underwater oil and gas deposits north of the Falkland/Malvinas Islands, an area believed to hold large quantities of hydrocarbons and already dubbed low-risk because of the certainty of the find.Rockhopper said it raised about US$80 million to finance the drilling offshore in the North Malvinas Basin.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-40107628097657778532009-10-23T07:00:00.002-03:002009-10-23T07:16:49.048-03:00

China National Petroleum Corp (CNPC) hasn't started formal talks with Repsol YPF SA on acquiring a stake in the Spanish company's Argentine unit, Bloomberg reported yesterday, citing a company official.CNPC is not at that stage yet, Wang Dongjin, vice-president of CNPC told reporters at a conference in Beijing yesterday, Bloomberg reported.Repsol, Spain's largest oil company, is maintaining a

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-21991901832099243952009-10-19T08:00:00.001-03:002009-10-19T08:31:15.177-03:00

GeoPark, the AIM listed Latin American oil and gas group, has confirmed press speculation that it is in talks with oil major Chevron over buying some of its properties in Argentina.GeoPark said the talks were preliminary and that a further announcement would be made as and when appropriate.The talks are believed to concern Chevron's exploration assets at El Sauce, Puesto Prado and Las Bases in

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-15004005061601592092009-10-09T14:00:00.001-03:002009-10-09T14:28:34.529-03:00

Spain's Repsol plans to list 20 percent of its Argentine unit YPF in March, 2010, daily ABC said on Friday, citing Repsol's local partner in YPF Enrique Eskenazi."If nothing unexpected happens and the financial markets continue to perform as they have done up to now, our plan is to list 20 percent of YPF in March next year," Eskenazi said in an interview with ABC.Eskenazi, deputy chairman of YPF

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-9526584578191340112009-10-07T18:00:00.001-03:002009-10-08T19:35:33.024-03:00

By Alan Petzet, Oil and Gas Journal Chief Editor-ExplorationArgentina’s secretary of energy has approved the first contract under an incentive program to encourage development of unconventional natural gas reservoirs.Under the contract, Apache Corp., Houston, will drill as many as 48 wells in two Neuquen basin fields in the next 4 years and supply 50 MMcfd of gas at a price of $5/MMbtu.The

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-56868948642757590952009-10-06T21:00:00.000-03:002009-10-06T21:19:19.942-03:00

Spain's Repsol YPF and its Argentine affiliate were ordered to pay 13 million pesos ($3.7 million) to the Auto-o-Gas group for "abuse of dominant position" in the liquefied petroleum gas market, company sources told Efe on Tuesday.They said the firm will appeal the verdict in favor of the competitor of YPF and Repsol YPF Gas in the Argentine domestic market.The ruling came in a case filed by

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-49852041337340263632009-10-06T02:00:00.000-03:002009-10-06T02:05:04.625-03:00

YPF is set to fund studies to generate a more accurate assessment of the country's gas and oil reserves, as it prepares to beef up its exploration and production activities. Argentina's largest energy company will release further details of the two-year study in December. YPF is the largest oil producer in the country and the second largest for natural gas after France's Total. At the end of 2008

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-2900315810001497992009-10-01T20:00:00.000-03:002009-10-12T09:54:59.029-03:00

Americas Petrogas Inc. is pleased to announce its wholly owned subsidiary, Americas Petrogas Argentina S.A., has completed the drilling of its 4th exploration well on its Medanito Sur block in Argentina.The well El Calden XS-4 was drilled to explore for hydrocarbons principally in the Base Centenario formation and was drilled to total depth of 1060 meters. The well also penetrated the Loma

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-30653444877312501572009-09-23T12:00:00.000-03:002009-09-23T13:27:29.731-03:00

By Rodrigo OrihuelaSept. 23 (Bloomberg) -- A 24-hour oil workers strike that ended yesterday disrupted energy supplies to industrial consumers nationwide, La Nacion reported.Workers in the provinces of La Pampa, Neuquen and Rio Negro went on strike yesterday over firings and caused natural-gas shipments to drop by 50 million cubic meters, or a third of Argentina’s total daily demand, La Nacion

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-6345192320483973772009-09-15T15:00:00.000-03:002009-09-15T17:10:30.542-03:00

Canoel International Energy Ltd. is pleased to announce that it has entered into a Memorandum of Understanding with a US based corporation for the purchase of two adjacent oil producing properties in Argentina.The properties are located in the Patagonia region in southern Argentina and currently together produce approximately 170 barrels of oil per day with no associated gas. Canoel will also be

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-9362969062581491882009-09-05T09:00:00.000-03:002009-09-05T09:44:55.364-03:00

Netherlands-based Pluspetrol has become the No. 4 crude producer operating in Argentina after acquiring Canadian oil and gas exploration firm Petro Andina for $326 million, the press here reported Friday.With the takeover, Pluspetrol acquired Petro Andina assets in Argentina, where the Canadian firm was developing deposits in the Neuquen Basin of southwestern Argentina. Petro Andina’s operations

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-46725615574036615932009-09-04T18:00:00.001-03:002009-09-05T09:50:19.723-03:00

A Calgary-based international oil and gas explorer has set aside its fervent opposition to a hostile takeover and accepted a deal that splits the company in two.Petro Andina Resources Inc. announced Thursday after markets closed it has agreed to be sold to private Argentine rival Pluspetrol Resources for less than the original offer it had spurned as inadequate.In a compromise solution, the

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-65701239734004472682009-08-31T09:00:00.000-03:002009-09-05T09:59:44.737-03:00

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/31/09 -- Crown Point Ventures Ltd. (the "Company") (TSX VENTURE: CWV) advises that it has completed the drilling of the second well of a consecutive three well exploration drilling program at El Valle in the San Jorge basin of Argentina and is casing it as a potential dual zone oil well.This EVx-21 well has been logged, evaluated, and cased as a

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-50817260850072278222009-08-28T10:00:00.001-03:002009-09-05T10:07:44.732-03:00

By Bloomberg NewsAug. 28 (Bloomberg) -- China National Petroleum Corp. said the country’s biggest oil producer has “nothing to disclose at the moment” on whether it’s in talks to acquire a stake in Repsol YPF SA’s Argentine unit.“As of now, there are no compulsory regulatory requirements for us to disclose information on any specific project,” CNPC Vice President Zhou Jiping said at a media

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-4112430240228352882009-08-22T10:00:00.000-03:002009-09-05T10:14:45.905-03:00

By Nicolas MisculinBUENOS AIRES, Aug 21 (Reuters) - YPF, the Argentine unit of Spain's Repsol , has lost oil output of 483,310 barrels during the past week due to a strike in the Patagonian province of Santa Cruz, a company spokesman said on Friday.The ongoing pay strike began two weeks ago and is aggravating tight provincial finances by causing the loss of millions of dollars in royalties."The

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-41958930534611868332009-08-17T22:00:00.000-03:002009-09-05T10:18:30.103-03:00

Canadian oil and gas explorer Petro Andina Resources reiterated its rejection of Pluspetrol Resources' C$400 million (US$360 million) bid today, saying it seeks a better alternative and has received proposals from qualified parties.Netherlands-based Pluspetrol Resources in June launched an unsolicited C$8.10 a share cash-bid for Petro Andina, in an attempt to expand its oil and gas operations in

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-82706912233327958482008-04-07T10:00:00.000-03:002008-04-08T08:26:24.022-03:00

Petroleo Brasileiro SA plans to drill 15 new oil wells in Argentina, in the provinces of Santa Cruz and Neuquen, where the company is already producing oil, Decio Oddone, the head of the company's Argentine unit, said to Brazilian business news magazine, Valor. Oddone also mentioned that Petrobras has little hope of making "important new discoveries" in Argentina as the country is already a

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-45527725875870036172008-04-07T08:00:00.002-03:002008-04-08T08:33:06.697-03:00

Intervera Data Solutions and Argentina-based Grupo Pragma Consultores announced today a collaboration to bring data quality solutions to South America. As the market for data quality services and solutions continues to expand throughout the oil and gas industry, both companies recognize the need to help and support South American E&Ps eager to tackle data quality problems, the companies

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-44992053207419402212008-04-05T10:00:00.001-03:002008-04-08T10:05:19.958-03:00

Bolivia and Argentina signed yesterday an agreement to build the largest natural gas liquid segregation plant in Latin America. The agreement was signed by representatives from both country's state-owned energy companies, YPFB and Enarsa, according to local media of La Paz, Bolivia.Argentina granted the project a credit of US$ 450 million with a 20-year amortization term, said Bolivian President

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-73952532207293707002008-04-04T10:00:00.000-03:002008-04-08T08:45:01.940-03:00

Junior Canadian E&P company Madalena Ventures Inc. (www.madalena-ventures.com) announced today the closing of a private placement financing, on a non-brokered basis, through the issuance of 4,375,003 Common Shares of Madalena at a price of US$0.56 per share for gross proceeds of US$2.45 million. Proceeds from the private placement will add to the Madalena’s existing working capital and will be

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-86546942253268134672008-03-20T11:00:00.000-03:002008-03-22T10:35:22.430-03:00

The announcement was made in Punta Arenas by Paul Schiodtz, Methanex Senior Vicepresident for Latinamerica, next to Roger Neumann head of Manufacturing in Chile and other managers of the company. The “inevitable restructuring” means that 39 jobs will have to go. Methanex’s four modules plant employs 230 and another 30, mostly administrative staff work in Santiago. Although the company did not

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-47070993026335993942008-03-18T09:00:00.001-03:002008-03-21T10:34:13.760-03:00

Benchmark Energy Corp. (www.benchmarkenergy.com) announced that it has entered into an arms-length agreement (the "Agreement") with Central Argentina Corporation ("CAC") dated March 10, 2008, by which Benchmark will purchase, subject to certain conditions, all of the issued and outstanding shares (the "CIC Shares") of Central International Corporation ("CIC"), a Nevada corporation, for total

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-12060825788609836562008-03-18T06:00:00.000-03:002008-03-21T11:04:40.755-03:00

Franklin Mining, Inc. (www.franklinmining.com) CEO William Petty has completed a five day fact-finding trip to Buenos Aires, Argentina. On his first such visit to Argentina as Franklin's CEO, Mr. Petty's trip was designed to re-establish and strengthen relationships with local and regional government authorities and reconfirm Franklin's commitment to the Province of Tierra de Fuego for

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-37092923185473128492008-03-17T18:00:00.006-03:002008-03-21T10:49:43.254-03:00

Petrolifera Petroleum (http://www.petrolifera.ca/), made 2007 revenue of Cdn$134mnillion (approximately US$134 million), up 27% from Cdn$106mn the year before, the company said in a statement. Net profits for the year fell 21% from Cdn$37.3mn in 2006 to Cdn$29.3mn in 2007. Revenue growth in 2007 was constrained by the strength of the Canadian dollar relative to the US dollar and the Argentine

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-67850538510567666012008-03-15T09:00:00.001-02:002008-03-22T10:50:06.805-03:00

Argentina will begin in April, to the north of the “Malvinas islands all the way to South Georgia”, the last leg of its seabed survey to comply with the United Nations Law of the Sea May 2009 timetable, reports the Buenos Aires Saturday press.The Argentine Navy oceanographic vessel “Puerto Deseado” has been commissioned for the research task, --which includes “litigation areas”--, so that

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-62705411513557724862008-03-13T10:00:00.000-02:002008-03-22T10:12:31.918-03:00

Pan American Energy (www.panamericanenergy.com) said on Thursday it will invest at least US$800 million through 2027 at crude oil and natural gas concessions in Argentina's southern province of Santa Cruz. Previously, the company had announced the concessions, but had not mentioned a precise investment target.Pan American Energy, the second-largest hydrocarbons producer in Argentina, is 60

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-49214512115462216052008-03-12T14:00:00.000-02:002008-03-22T10:25:03.634-03:00

Argentina has formally promised to guarantee natural gas supplies to Chile and increase volumes when demand rises, Chile's National Energy Commission said on Tuesday. The measure is part of a larger agreement with Argentina's Energy Department, the commission said in a statement.Chile depends almost entirely on Argentina for the roughly 1.8 million cubic meters of gas it needs each day. Supplies

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-73351673418211387312008-03-12T10:00:00.000-02:002008-03-22T10:19:40.750-03:00

The Argentine Government has increased the natural gas export duty from 45% to 100% of the highest contracted import price of natural gas into Argentina. Currently, it is expected that this would represent an export duty of approximately US$7/mmbtu. Methanex’s gas contracts provide that the gas suppliers must pay any duties levied by the government of Argentina. Methanex has not received official

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-37515627064252011662008-03-11T11:00:00.000-02:002008-03-22T11:14:41.638-03:00

Apco Argentina Inc. today announced 2007 net income of $31.3 million, compared with 2006 net income of $40.1 million. The decrease is primarily due to higher operating costs and expenses and lower equity income from Argentine investments. The higher costs and expenses were driven by increases in operating expense, depreciation, depletion and amortization, and greater Argentine taxes other than

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-43665296757234594652008-03-11T10:00:00.000-02:002008-03-22T10:43:55.983-03:00

Exxon Mobil Corp. said Monday it has no intention of selling its Esso unit refinery, service stations or other assets in Argentina, ending months of speculation about unsolicited purchase offers. Esso has operated in Argentina for more than ninety years.Esso spokesman Thomas Hess told reporters in Buenos Aires that the multinational had decided to keep those refinery, retail and chemical product

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-71981729646302469982008-03-02T10:00:00.000-02:002008-03-22T10:55:37.326-03:00

Argentina’s natural gas reserves have dropped dramatically from a 25 years horizon to just 9 years between 2001 and 2005, according to a report from the Nation’s General Auditing Office, AGN, covering 1993 to 2006.“Reserves data reveal a sustained annual diminution from 2001 onwards, accumulating a reduction of 54.5% in 2005 compared to 2000”, says the report. Therefore the reserves/production

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-42654978751670964902008-02-29T10:00:00.000-02:002008-03-22T11:02:27.861-03:00

Argentina is planning to import, by sea, liquid gas, LNG, in the coming months in an effort to anticipate and contain a repeat of past winters shortages, reports the Friday edition of the Buenos Aires press.According to government sources, Repsol-YPF will contract a special vessel for the daily provision of 8 million cubic meters of LNG to the Buenos Aires metropolitan web. However the imported

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-17293117802015691932008-02-27T15:23:00.004-02:002008-02-27T15:35:20.584-02:00

Argenta Oil & Gas Inc. (www.argentaoilandgas.com) announced the initial results of its first exploration well on its 100% owned Loma El Divisadero property in the Neuquen Basin, Argentina.The LEDO x-2 well was drilled to a total depth of 5,294 feet and 7 inch casing was run and cemented at 4,694 feet. The well tested 19 degrees API gravity oil from the Chorreado Member (3,451 feet) before any

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-54841591458946662512008-02-23T10:00:00.001-02:002008-02-27T16:54:02.075-02:00

The presidents of Argentina, Bolivia and Brazil failed to reach a deal today in Buenos Aires in order to redistribute Bolivia's lowering natural gas exports to help Argentina face its unsatisfied energy thirst.Nevertheless, it was agreed that the three countries will create a crisis group headed by their respective energy ministers in order to seek in the coming weeks a solution to Argentina’s

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-60529005197498160492008-02-22T10:00:00.001-02:002008-02-23T12:14:16.683-02:00

Apco Argentina has announced oil, natural gas and liquefied petroleum gas sales volumes of 3.83 million barrels of oil equivalent from its combined consolidated and equity interests for 2007, compared with 3.75 million barrels during 2006 The 2% increase is primarily attributable to higher volumes from Apco's Tierra del Fuego and Acambuco concessions.Apco owns a 52.79% interest in the Bajada del

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-13970853601224943352008-02-20T10:00:00.000-02:002008-02-23T12:28:39.221-02:00

Petrolifera Petroleum Limited announced today that it has secured a new contract over the Puesto Morales Este Concession ("PME Concession") in the Province of Rio Negro, Argentina. The PME Concession covers an area of 12.8 square kilometers (3,163 acres or approximately five sections) and is situated east of and is contiguous with the southeastern portion of the company's Puesto Morales Block in

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-68292373759347077552008-02-20T09:00:00.000-02:002008-02-23T12:55:15.148-02:00

An Argentine appeals commercial court has ordered ExxonMobil Corp.'s local Esso unit to fully supply a privately owned service station operating under the Esso banner, the company confirmed today. The decision comes amid media reports of fuel shortages at service stations. In response to the shortages, government price controllers have stepped up pressure on the nation's main fuel refiners and

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-87366738407372822492008-02-15T08:34:00.001-02:002008-02-15T08:35:59.759-02:00

Repsol YPF reported yesterday to the Spanish Stock Exchanges National Committee Repsol that the sale of 14.9% of YPF to Petersen Energia S.A., the newly created energy company of Grupo Petersen (www.grupopetersen.com.ar), will close next February 21.Last December 21st, Repsol YPF announced the sale of 14.9% of its Argentine affiliate to the group of companies led by Enrique Eskenazi for the price

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-35349267203536700042008-02-14T16:50:00.007-02:002008-02-14T17:28:02.839-02:00

Grupo Eurnekian, an Argentine media and infrastructure group, and GP Investments, a Brazilian investment fund (http://www.gp.com.br/), have jointly offered to purchase Exxon Mobil’s assets in Argentina, Brazil, Chile and Uruguay for US$ 2.0 billion.In the proposed offer, Eurnekian would hold 80 percent of Exxon Mobil’s assets in Argentina, Chile and Uruguay and 20 per cent of the assets in Brazil

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-35731440447603348142008-02-13T16:01:00.002-02:002008-02-13T16:04:38.648-02:00

Petrobras Energía SA, the Argentine operating company of the Brazilian state oil giant, reported profits of US$ 180.61 million in Argentina in 2007, a sharp 60.6 percent decrease from US$ 458.25 million in 2006.The annual results of the company were affected by higher sales costs and an increase in administrative and trading costs. While annual sales increased 14.6 percent, to 13.46 billion pesos

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-67753906422457835312008-02-12T14:09:00.000-02:002008-02-12T14:19:49.857-02:00

Royal Dutch Shell PLC announced on Monday in a letter sent to its service station operators in Argentina, that operations at its refinery in Dock Sud, Province of Buenos Aires, would resume at full capacity. The decision was communicated after a meeting with Guillermo Moreno, the Secretary if Interior Commerce of Argentina, in which the government decided to lift an embargo on exports of fuels

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1296154064037300112008-02-08T15:55:00.000-02:002008-02-08T16:02:35.061-02:00

Geopark Holdings Ltd. announced today that despite a six-month delay in the start-up of the drilling program due to the late arrival of the drilling rig, oil and gas production in Chile and Argentina increased by 56% from approximately 1,470 barrels of oil per day equivalent (boepd) in January 2007 to approximately 2,300 boepd at the end of December 2007. The company further said that further

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-66621908730793337002008-02-05T09:36:00.000-02:002008-02-05T10:05:37.038-02:00

Crown Point Ventures Ltd. (http://www.crownpointventures.ca/), an oil and gas company based in Vancouver, British Columbia, has acquired a working interest in future higher production from the El Valle block in Argentina. The company will pay US$3.0 million to drill three new wells on the prospect.The El Valle block is on the southern flank of the San Jorge Basin and produced 175 barrels a day on

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-2087734503117207632008-02-02T13:05:00.000-02:002008-02-05T19:52:35.877-02:00

The British-Argentine joint venture Pan American Energy has announced the discovery in southern Argentina of new oil and gas reserves in equivalent to 100 million barrels of crude, EFE news agency reported Wednesday. The company, a 60-40 joint venture of British Petroleum and Argentina's Bridas, also said in a press release that it will invest $1 billion in the exploration and production of

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1122552860950502102005-07-28T07:00:00.000-03:002005-07-28T09:14:20.956-03:00

The Minister of Federal Planning of Argentina, Julio De Vido, and the Minister of Hydrocarbons of Bolivia, Jorge Dunn, agreed yesterday to increase the supply of natural gas from Bolivia to Argentina until December 31, 2006, from 6.5 to 7.7 million m3/day. The ministers of the two countries also agreed to resume talks on the Northeast Gas Transmission Pipeline, which is intended to supply up to

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1122551923814049422005-07-27T08:00:00.000-03:002005-07-28T09:16:00.320-03:00

Sociedad Comercial del Plata, the holding company of Compañía General de Combustibles S.A. (www.cgc.com.ar), informed today to the Buenos Aires Stock Exchange that it is unaware of the existence of three appeals to the Supreme Court against the resolution of the Chamber of Appeals that confirmed on June 22, 2005 the approval of the group’s reorganization. The reorganization agreement under

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1121343040072941032005-07-14T07:00:00.000-03:002005-07-14T09:10:40.080-03:00

The International Finance Corporation has signed a US$250 million loan for Pan American Energy LLC to finance part of the company’s 2005 capital expenditure program, primarily focused on its operations in the Golfo San Jorge basin, in southern Argentina. The package comprises a US$115 million loan for IFC’s own account and a US$135 million loan for the account of commercial banks. Commercial bank

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118766666201824522005-06-14T07:00:00.000-03:002005-06-14T13:31:06.206-03:00

The President of Peru, Alejandro Toledo, stated that his nation is willing to supply natural gas from the Camisea field to Chile, Argentina, Brazil and Uruguay through a transmission pipeline that will operate as an “energy ring” in the Southern Cone. A study commission integrated by the five nations was created yesterday in Lima in order to analyze the feasibility of the project. In addition,

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118753929739342672005-06-11T09:00:00.000-03:002005-06-14T09:58:49.746-03:00

The Spanish-Argentine energy company plans to invest up to US$2.95 billion in the Province of Santa Cruz, between 2005 and 2009. The announcement was made yesterday at the headquarters of FOMICRUZ, the Province’s energy company, where Roberto Dominguez, Director of the company’s Business Unit for Southern Argentina, met with Alberto Cameron and Francisco Anglesio, the Province’s Secretary of

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118145092094899412005-06-07T07:00:00.000-03:002005-06-07T08:51:32.096-03:00

The Spanish-Argentine energy company announced yesterday that it will create an biodiesel investigation center at its refining facilities in La Plata, South of Buenos Aires, with the aim of becoming the largest producer of this soy and sunflower-based fuel. There are currently twenty plants producing biodiesel in Argentina, at a small scale and mainly for use in the agrobusiness. Last year, the

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118110496037201442005-06-06T10:00:00.000-03:002005-06-06T23:17:49.380-03:00

Argentina, Brazil, Chile and Uruguay will agree next Wednesday to evaluate the construction of a pipeline destined to supply these four countries with natural gas from Peru, according the Dilma Rousseff, Brazil’s Minister of Mines and Energy. The proposal was presented on June 1 in Brasilia by Chile and Argentina. The proposed US$2.5 billion pipeline may ship up to 35 million m3/day of natural

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118111725930762082005-06-05T07:00:00.000-03:002005-06-06T23:35:25.933-03:00

Jorge Andino, the Minister of Hydrocarbons, confirmed that the Province of Tierra del Fuego will maintain its claim against producers who assessed and paid hydrocarbon royalties on the basis of a barril price of US$28.50. According the Mr. Andino, the adjustment in royalties that the Province is claiming amounts to approximately US$700,000.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1118112157110902532005-06-04T11:00:00.000-03:002005-06-06T23:42:37.113-03:00

The Province of Rio Negro is analyzing the Federal Government’s invitation to join Enarsa as a shareholder. So far, only the hydrocarbon producing provinces of Chubut and Mendoza have formally joined Argentina’s national energy company.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117669250701960242005-06-01T11:00:00.000-03:002005-06-01T20:40:50.706-03:00

Antoni Brufau, President of Repsol YPF, confirmed today that his company will conduct exploration in the Argentine Sea in association with Enarsa, Argentina’s national energy company. Initially, the Spanish-Argentine oil company will allocate US$129 million to E&P. Enrique Locutura, the company’s General Director for Argentina, Bolivia and Brazil, further stated that 73 percent of the US$6.5

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117538115005080052005-05-31T07:00:00.000-03:002005-05-31T08:18:04.153-03:00

In a letter to the Buenos Aires Stock Exchange, Petrobras Energía denied that it had accepted a specific deadline for the consummation of its divestment in Transener SA (www.transener.com.ar), thus rejecting the March 31, 2006 date set by the Secretariat of Energy last week. The Brazilian national energy company argues that since the approval of its acquisition of 58.62 percent of PeCom Energía,

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117539473376165342005-05-30T07:00:00.000-03:002005-05-31T08:37:53.380-03:00

Investment bankers and analyst recommended that the Spanish Argentine energy company reduce its dependence on Bolivia and Argentina, where almost two thirds of its income is generated. Jacobo Peñaranda, of Barclays in Madrid, stated that anything that dilutes the weigh of Argentina, which accounts for more than 50 per cent of the company’s total income, would be positive. CS First Boston analyst

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117540343692202122005-05-29T07:00:00.000-03:002005-05-31T08:52:23.696-03:00

The Federal Congress may approve temporary increases in natural gas and energy tariffs paid by residential users. The draft bill provides that utilities invoices may include specific charges to finance infrastructure works for the expansion of the generation, transportation and distribution systems of natural gas, GLP and energy services. The text of the bill also clarifies that such additional

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117310561255346352005-05-28T07:00:00.000-03:002005-05-28T17:02:41.260-03:00

The Secretariat of Energy will allocate import quotas up to 120,000 m3 of gasoil, in order to complete the total import of 500,000 m3 of gasoil necessary to satisfy the domestic demand and avoid a new energy crisis this winter. The fuel to be imported shall be traded at a price not higher than the one corresponding to February 28, 2005. Companies interested in obtaining a quota shall submit their

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117309769788356472005-05-27T07:00:00.000-03:002005-05-28T16:49:29.793-03:00

The Spanish-Argentine energy company and CVC Capital Partners (www.cvc.com) are interested in bidding jointly for Shell’s worldwide GLP business, valued at €2.5 billion. The European independent buy-out firm will contribute 60 percent of the bid price. In Argentina, Repsol YPF is the leading player in the 3 million tn/year GLP business, with a 27.5 percent wholesale market share, while Shell is

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117311984817308842005-05-26T07:00:00.000-03:002005-05-28T17:32:48.553-03:00

In an interview given yesterday, Carlos D. Mesa Gisbert, the President of Bolivia, stated his opinion that the US$1.3 billion Northeast pipeline project announced in 2003 by the Argentine government, is not at risk with his country the new hydrocarbons law. According to Mesa, the negotiations with Argentina that will determine the construction of the pipeline will be related mainly to the price

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117302793467422642005-05-25T07:00:00.000-03:002005-05-28T15:00:52.363-03:00

The Secretariat of Energy has set on March 31, 2006 the deadline for Petrobras’ divestiture from its indirect holding in Transener SA (www.transener.com.ar), the largest energy transmission company in Argentina, with over 8,700 km in lines. Upon acquiring its controlling interest in Pecom Energía in 2003, Petrobras had agreed with the Argentine antitrust authority to sell its 50 percent interest

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1117028265710778162005-05-24T07:00:00.000-03:002005-05-25T10:48:38.183-03:00

MEGSA (www.megsa.com.ar), the Argentine natural gas electronic market that will coordinate transactions associated with gas purchases at the spot market and the secondary gas transportation and distribution markets, will begin operations today. Under MEGSA operations, energy users will negotiate prices directly with producers, trading contracts for all one-day natural gas spot purchases. With the

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116893708276115872005-05-23T19:00:00.000-03:002005-05-23T21:15:08.280-03:00

London-based distress fund Ashmore Investment Management (www.ashmoregroup.com), a creditor of MetroGas SA and TGS SA, and local pipeline construction and operation company Emgasud SA (www.emgasud.com.ar), are negotiating a joint venture to consolidate their gas assets in Argentina, whereby the two companies will attempt to secure the operation of MetroGas SA and to step into Enron’s feet as

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116894385798354822005-05-22T07:00:00.000-03:002005-05-23T21:26:51.483-03:00

Various legislators from provinces with high risk exploration basins are attempting to introduce changes in the E&P incentives bill proposed by the government last week, in order to make exploration in non-producing basins more attractive. The bill is also said to benefit provinces with lower exploration risk, such Mendoza, Neuquen, Santa Cruz and Chubut. Legislators from the Provinces of Salta,

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116689156145173642005-05-21T07:00:00.000-03:002005-05-28T17:31:16.530-03:00

The new hydrocarbons law approved this week by the congress of Bolivia, increasing significantly the government take in hydrocarbon exploitation, may adversely impact the current supply to Argentina of 4.0 million m3/day of natural gas, which is scheduled to increase to 6.5 million m3/day once the expansion in transportation capacity of TGN (www.tgn.com.ar) is completed in 2006, if oil and gas

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116599646227505062005-05-20T07:00:00.000-03:002005-05-20T11:37:52.243-03:00

The Argentine Government signed yesterday agreements for the constructions of two gas distribution pipelines in the Patagonian Provinces of Tierra del Fuego and Chubut, a total investment of US$21.4 million. Enarsa, the Argentine national energy company, will disburse up to 37 percent of the funds for the construction and operation of one of the pipelines that will supply the urban areas of

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116477135551832902005-05-19T01:30:00.000-03:002005-05-19T11:10:44.916-03:00

President Kirchner announced yesterday that a draft law introducing tax breaks and other incentives to promote exploration and production of hydrocarbons will be sent to the Argentine Congress today. The proposed incentives include the anticipated reimbursement of Value Added Tax on purchase of capital assets and investment in infrastructure, accelerated amortization, exemption from Tax on

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116500618560232182005-05-18T07:00:00.000-03:002005-05-19T08:03:38.563-03:00

The Province of Mendoza is preparing a bid round for thirteen exploration blocks in its territory, in addition to the current 35 blocks under bidding process. The Province’s Undersecretary of Economic Promotion, Alejandro Rodriguez, stated that Repsol YPF, Panamerican Energy and Petrobras are among the interested prospective bidders.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116371694600767292005-05-17T07:00:00.000-03:002005-05-17T20:17:02.266-03:00

The three nations have begun talks to on a possible exchange of energy, according to Chilean Economy Minister Jorge Rodriguez. In a sort of triangular swap of fuel for electricity, Chile would purchase from Brazil up to 700 MW before sending it to the Argentine market, and Argentina would pay Chile with supplies of natural gas. The possible agreement will lay the foundation for commercial gas and

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116372628440701242005-05-16T07:00:00.000-03:002005-05-17T20:32:49.256-03:00

Tecpetrol SA (www.tecpetrol.com) completed works to deepen drilling to 5,000 meters at the Aguaragüe block, near General Mosconi, in the Province of Salta, at a total investment of US$10 million. The works may help revert the decline in production of natural gas in the north of the Province of Salta, which has dropped from approximately 14 million m3/day to the current 10 million m3/day.

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116113882443105082005-05-15T02:00:00.000-03:002005-05-15T14:57:54.363-03:00

The Argentine Congress approved last week an increase in energy rates collected by Edelap, a subsidiary of AES Corporation which supplies energy to 280,000 residential customers in the La Plata metropolitan area, 50 km south of Buenos Aires, allowing an electricity company to raise its rates for the first time since January 2002. Under the agreement with the Argentine government, Edelap may now

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1116073233055809512005-05-14T07:00:00.000-03:002005-05-14T20:18:26.280-03:00

Pan American Energy, owned by BP Amoco and Bridas Corporation (www.bridascorp.com), will invest US$110 million to increase the natural gas production at the Acambuco block, in the Province of Salta, near to the border with Bolivia, from the current 5.5 million m3/day to 8.0 million m3/day by the second half of 2006. The investment plan includes the construction of a 62 km long pipeline and the

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115995700641171732005-05-13T07:00:00.000-03:002005-05-13T15:12:04.480-03:00

In the first arbitration court ruling made in more than thirty claims registered against the Republic of Argentina before the World Bank’s International Center for the Settlement of Investment Disputes, CMS Energy, a minority shareholder of TGN (www.tgn.com.ar), one of the largest gas transportation licensees in Argentina, was awarded US$133 million in compensation for losses arising mainly from

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115922503956192402005-05-12T10:00:00.000-03:002005-05-12T15:32:57.186-03:00

Repsol YPF SA announced today that its first-quarter net profit jumped 37 percent, rising to €845 million from €618 million in the same period of 2004. The rise was mainly boosted by strong crude prices and refining margins. During 1Q 2005, the Spanish-Argentine company’s total oil and gas production rose 0.6 percent to 1.13 million barrels of oil equivalent a day. Gas production rose 8.1 percent

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115812685893392592005-05-11T07:00:00.000-03:002005-05-11T10:14:29.226-03:00

In a press conference held in Brazil, the President of Venezuela, Hugo Chavez, said that Argentina, Brazil and Venezuela had agreed on a joint initiative to integrate energy resources, under the name of Petrosur. According to Chavez, the agreement had been reached by the presidents of the three nations on May 9, ahead of the South American-Arab Summit which opened in Brasilia on May 10. He

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115741472624986482005-05-10T07:00:00.000-03:002005-05-12T15:31:01.056-03:00

Repsol YPF (www.repsolypf.com) and Panamerican Energy (www.pan-energy.com) have agreed to supply Aluar Aluminio Argentino SAIC (www.aluar.com.ar), the only primary aluminium producer in Argentina, with 1.1 million m3/day of natural gas for a period of ten years from 2007, renewable for an additional ten-year term. Aluar plans to increase the current annual aluminium production capacity of 280,000

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115650842190121262005-05-09T07:00:00.000-03:002005-05-09T13:18:46.826-03:00

The Argentine government may issue this week a new regulation that would forcibly convert into pesos all amounts due to the producers for natural gas supplies originally destined to exportation that were redirected to the domestic markets by order of Argentine regulatory authority. Although the scope of the new regulation is still unclear, its terms may allow distributors to write off a liability

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115480734860134452005-05-08T01:00:00.000-03:002005-05-07T12:52:09.970-03:00

Royal Dutch/Shell and BASF agreed to sell Basell (www.basell.com), the worlds top producer of polypropylene, to New York-based Access Industries and The Chatterjee Group in US$5.7 billion. The sale includes 100% of Petroken Petroquímica Ensenada S.A. (www.petroken-pesa.com.ar), the leading polypropylene producer in Argentina, which until March 2005 was a 50/50 joint venture between Basell and

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115481526854527992005-05-07T06:00:00.000-03:002005-05-10T12:15:13.320-03:00

Vintage Petroleum, Inc. (www.vintagepetroleum.com) reported that its oil production in Argentina in the first quarter of 2005 averaged 31,379 net barrels of oil per day (BOPD), an increase of 15 percent over the 27,203 net BOPD produced in the comparable quarter of 2004. The prior year's quarter had been negatively impacted by a labor strike which reduced its 1Q 2004 production by approximately

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115350560986316752005-05-06T00:35:00.000-03:002005-05-06T00:42:05.296-03:00

Argentina’s state oil company, Energía Argentina S.A. - Enarsa, and Angola’s Sonangol S.A. (www.sonangol.co.ao) signed yesterday an oil and trade accord on the occasion of Angolan President Eduardo Jose Dos Santos' visit to Buenos Aires. The agreement provides for the sharing of information and the promotion of joint investigation and oil production between the two national oil companies. The

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115306251606742642005-05-05T07:00:00.000-03:002005-05-06T00:37:32.573-03:00

Emgasud S.A. (www.emgasud.com.ar) expressed its interest in acquiring a controlling stake in Metrogas S.A., Argentina’s leading natural gas distributor, engaged in the production, distribution and storage of natural gas and processed natural gas for the electric power, industry and domestic sectors, with 1.9 million customers, a net revenue of US$273.3 million and operating costs of US$214.5

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115215791148902392005-05-04T07:00:00.000-03:002005-05-04T11:32:52.736-03:00

The government will announce this week additional works to expand in 4 million m3/day the capacity of the San Martin Gas Transportation Pipeline operated by TGS, which supplies industries and residential users in the Buenos Aires Metropolitan Area with natural gas from the South of Argentina. This new project, at a cost of US$250 million, is in furtherance of the expansions in 2.9 million m3/day

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115122391257977352005-05-03T07:00:00.000-03:002005-05-03T09:13:11.256-03:00

The Argentine government is preparing a set of fiscal tools to promote investment in oil and gas production that may be announced this coming May 18th. Under the title of “Investment Promotion Plan”, the measures will consist mainly of tax incentives for new investment in E&P, including accelerated amortization and reimbursement of VAT on capital investment. The plan aims at replacing and growing

Alejandro Candiotinoreply@blogger.comtag:blogger.com,1999:blog-12321585.post-1115040328704403112005-05-02T07:00:00.000-03:002005-05-02T10:30:55.450-03:00

José Eduardo Dutra, President of Petrobras, stated last week at the Third National Oil Company Forum held in Rio de Janeiro, that his company requested to the Argentine government a reform to the Argentine tax regime in order to make offshore E&P more attractive. Petrobras is interested in developing offshore operations in the Argentine Sea, but the current legislation does not contemplate any

Alejandro Candiotinoreply@blogger.com