Argentina decides to control oil firm YPF

[dennisr]

Would be surprised if Argentina could pull this nationalization off? They surely do not have the $$$$ and no friends in the oil industry.
"...... to materialize the aspirations of the Argentine government to increase production after nationalization "will require an investment of 40,000 million dollars over the next year and use the services of a number of international companies.

http://www.eleconomista.es/mercados...012-descuentan-la-nacionalizacion-de-YPF.html

http://translate.google.com/transla...012-descuentan-la-nacionalizacion-de-YPF.html

 

[nicoenarg]

Would be surprised if Argentina could pull this nationalization off? They surely do not have the $$$$ and no friends in the oil industry.
"...... to materialize the aspirations of the Argentine government to increase production after nationalization "will require an investment of 40,000 million dollars over the next year and use the services of a number of international companies.

http://www.eleconomista.es/mercados...012-descuentan-la-nacionalizacion-de-YPF.html

http://translate.google.com/transla...012-descuentan-la-nacionalizacion-de-YPF.html

Who says they have to do it legally? Venezuela took over Exxon's operations and paid them peanuts for it. Exxon asked for around $12 Billion US, Venezuela gave them 250 million and called it "settled".

I really don't understand why people are concerned about how much money the government here has. I am worried about how far they are willing to go to get their way and I am scared that they are willing to go far enough to destroy this country once and for all.

 

[genialf]

Yeah, they don't need the money to buy it... But they will need it for exploring and exploiting... That's the argument they're trying to pull off in order to nationalize, right?

 

[scotttswan]

I get the feeling they hope that the chinese will bite and invest in some exploration. Maybe some deal with Chinese made goods being allowed into Argentina and more soya going to china too?

 

[ghost]

I get the feeling they hope that the Chinese will bite and invest in some exploration. Maybe some deal with Chinese made goods being allowed into Argentina and more soya going to china too?

Nice thought. But the Chinese can't even fix their own problems and to further the proposition, no one has ever "fixed" Argentina.
Argentina is a place in the world that runs counter flow to every known convention. It survives by being out of sync [by 2 or 3 clicks] with everything that it interacts with it. This is not likely to change until AR becomes so isolated that it can no longer function on an international scale. But....the Chinese will be very happy to insure that Argentina becomes their private farm. Good luck Mrs. El.

 

[nicoenarg]

Nice thought. But the Chinese can't even fix their own problems and to further the proposition, no one has ever "fixed" Argentina.
Argentina is a place in the world that runs counter flow to every known convention. It survives by being out of sync [by 2 or 3 clicks] with everything that it interacts with it. This is not likely to change until AR becomes so isolated that it can no longer function on an international scale. But....the Chinese will be very happy to insure that Argentina becomes their private farm. Good luck Mrs. El.

Come to think of it, China has f*ed up its economy kind of like Argentina. Lots of potential, no brains. China, though, has the advantage that everyone wants products assembled in China. Whereas Argentina is not really that important to the world. They can and will forget about Argentina in a heartbeat. Argentina is running on fumes and its demise as any kind of significant member of any world organization is not far away.

Last time they got away with it by putting all the blame on the IMF...wonder what they're going to blame this time around.

 

[dennisr]

Do not think China is too interested in getting involved in Argentine oil. Last year Bridas energy of Argentina and Cnooc of China withdrew a 7 billion dollar offer for Argentina's Pan American Energy, large producer in Argentina. The rumor was that the offer was withdrawn because they could not get AR government approval for the deal. Interestingly, it was BRITISH Petroleum (BP) that wanted to sell its 60% stake Pan American Energy. Just cannot get away from the Brit/AR connection.

 

[ghost]

Come to think of it, China has f*ed up its economy kind of like Argentina. Lots of potential, no brains. China, though, has the advantage that everyone wants products assembled in China. Whereas Argentina is not really that important to the world. They can and will forget about Argentina in a heartbeat. Argentina is running on fumes and its demise as any kind of significant member of any world organization is not far away.

Last time they got away with it by putting all the blame on the IMF...wonder what they're going to blame this time around.

And now they are booted out of the G20 mtg.......because the numbers are "suspect". Just a few clicks off, [no problem Mrs El]. One less international meeting to buy shoes for.

 

[glasgowjohn]

The Spanish press are saying today that the Chinese will swoop and buy Repsol's stake in YPF.

Meanwhile the Repsol president has arrived in BA to present the company's new investment plans.

 

[scotttswan]

http://en.mercopress.com/2012/04/11...oing-clashes-between-repsol-ypf-and-argentina

I'd like to see Argentina try and bully the Chinese state in investing.