Argentina

Thu, 2014-05-29 11:00Sharon Kelly
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Shale Rush Hits Argentina as Oil Majors Spend Billions on Fracking in Andes Region

While many countries, including France, Germany and South Africa, have banned or delayed their embrace of fracking, one country is taking a full-steam-ahead approach to the unconventional drilling technology: Argentina.

The country is welcoming foreign shale companies with open arms in the hope that oil and gas drilling will help combat one of the world’s highest currency inflation rates. But the government there is also facing violent clashes over fracking in arid regions of the Andes mountains and allegations from locals of water contamination and health problems.

Argentina’s Vaca Muerta shale formation — estimated to hold an amount of oil and gas nearly equal to the reserves of the world’s largest oil company, Exxon Mobil — has already attracted billions in investment from the major oil and gas company Chevron.

In April, the government drew global attention when it announced plans to auction off more acreage. “Chevron, Exxon, Shell have shown interest in Vaca Muerta. They will compete for sure,” Neuquen province Energy Minister Guillermo Coco told potential investors on a road show in Houston on April 30th.

Argentina, which the EIA estimates could hold even more shale gas than the U.S., already has over 150 shale wells in production, more than any country in the world aside from the U.S. and China. California-based Chevron, in partnership with Argentina’s state-owned oil company YPF, invested $1.24 billion in a pilot program last year. Last month, Chevron announced an additional $1.6 billion effort for 2014, part of Chevron's overall investment plan that could top $15 billion. The company is hoping that this plan will allow it to extract 50,000 barrels a day of shale oil plus 100 million cubic feet of shale gas per day from the country’s Andes mountain region.

American drillers have talked up Argentine shale as the next big thing. “Vaca Muerta is going to be an elephant compared to Eagle Ford,” Mark Papa, CEO of EOG Resources told the Argentine press in 2012, referring to a major oil-producing shale formation in Texas.

Thu, 2012-11-01 17:28Graham Readfearn
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Climate Science Denialist Lord Monckton's IPCC "Appointment" That Wasn't

IT'S DIFFICULT to really know where to start in describing Lord Christopher Monckton, one of the planet's most outspoken deniers of the risks of human-caused climate change.

You could say he's the leader of the Scotland branch of a fringe UK political party, for example.

Or describe him as the chief policy adviser to the Science and Public Policy Institute, a climate science-mangling organisation in the US which doesn't disclose its funders.

But earlier this week, Lord Monckton gave himself another title.

In an opinion column about how climate change had nothing to do with the deadly superstorm Sandy, Lord Monckton wrote how he was “an appointed expert reviewer for the forthcoming “Fifth Assessment Report” to be published by the United Nations’ Intergovernmental Panel on Climate Change.”

Now that's pretty impressive stuff. The Intergovernmental Panel on Climate Change gathers and summarises the world's research on climate change.

I wondered how one might be “appointed” as an “expert reviewer”, so I asked the secretariat at the IPCC about the process.

Thu, 2011-12-01 14:43Steve Horn
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LNG Groundhog Day: Cheniere Energy Signs Yet Another Gas Export Deal on Gulf Coast

Credit: Oleksandr Kalinichenko / Shutterstock

Another day, another unconventional gas export deal signed. Nascent North American LNG (liquefied natural gas) export deals are happening so fast and furiously that it is hard to keep track of them all.

The latest: On November 21, Cheniere Energy Partners signed a 20-year LNG export deal with Gas Natural Fenosa, an energy company which operates primarily in Spain but also in such countries as Italy, Mexico, Colombia, Argentina, and Morocco. Cheniere will maintain the Sabine Pass LNG export terminal located off of Sabine Lake between Texas and Louisiana, which feeds into the Gulf of Mexico, while Gas Natural Fenosa will ship the gas to the global market.

Cheniere, which made waves when its CEO Charif Souki announced that his corporation's business model would center exclusively around LNG export terminals, also recently signed a 20-year export deal with BG Group, short for British Gas Group.

Like the recent export deal with BG Group, which involves carrying fracked unconventional gas from various shale basins around the United States via pipelines to the Sabine Pass LNG export terminal, the Gas Natural Fenosa deal also centers around the export of gas from Sabine Pass to the global market.

Thu, 2007-03-15 10:14Bill Miller
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International coalition takes aim at popular air-conditioner refrigerant in battle against climate change

Industrial and developing countries have joined forces to call for stringent limits on HCFC-22 , the world’s most popular refrigerant for air-conditioners, amid mounting evidence it depletes the ozone layer and contributes to global warming.

Wed, 2007-03-14 11:00Bill Miller
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Poll finds worldwide agreement climate change is a threat

An international poll of 17 countries found widespread accord that climate change is a problem, but division as to whether it is sufficiently urgent to require immediate, costly measures.
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