Uh, this can't be good...

[Amargo]

This is an interesting read.

 

[dennisr]

Could you post a link to that information? I am not challenging it, I would actually like to read it, and then be able to tell people about it.

Here are a few links...it is all a charade.

Shortages have become more frequent over the past few years as refining capacity fails to keep pace with demand. The economy expanded by an average of 8% a year between 2003 and 2011 while little refining capacity has been added since the 1990s.

http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6985293

....strikes shaving 8.5 per cent off its daily hydrocarbon production in Argentina, recurring net income for the year fell 53.3 per cent year on year to €2.19bn.

http://www.ft.com/intl/cms/s/0/f59c8fce-62b5-11e1-9245-00144feabdc0.html#axzz1oerqGvdS

YPF already invests an amount equal to 100% of its operating income and pays a dividend that was agreed with the authorities to help the Eskenazi family, close to the government, to buy their 25.4%, which is supported by two loans to be re-paid out through the YPF dividends, in a move made and agreed to maintain "the national" status of YPF, but also to make it attractive to local pension funds.

http://energyandmoney.blogspot.com/2012/03/argentina-and-nationalization-threats.html#

 

[dennisr]

Where are the results of that? The reserves keep going lower and lower every year. Argentina went from being an O&G exporter to being an importer which was just inimaginable a few years ago. I am sorry, but I seriously doubt the figures of Repsol YPF.
YPF is now a shadow of what it used to be.

The country, ....is still self-sufficient with crude.....

http://www.timizzer.com/resources/t...gentina-oil-production-for-the-last-65-years/

Argentina is largely self-sufficient in crude oil, but imports oil products..

Outputs from Argentina’s refinery capacity do not satisfy all internal fuel demand. As a result, Argentina imports significant volumes of finished products – including an average of 19,000 bbl/d from the United States in 2010.

http://www.eurasiareview.com/070720...tion-declining-while-demand-growing-analysis/