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Chevron, YPF Sees Argentina as Possible Shale-Oil Pioneer

Home Forums Refining Community Refinery News Chevron, YPF Sees Argentina as Possible Shale-Oil Pioneer

This topic contains 2 replies, has 2 voices, and was last updated by  Charles Randall 8 years, 5 months ago.

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  • #1662

    Anonymous

    YPF Chief Executive Miguel Galuccio and Ali Moshiri, president of Chevron’s Latin America and African operations, said Argentina’s unique geology and infrastructure give the country advantages over other shale-oil and gas producing nations.
    “From the geological point of few, after the U.S., Argentina is No. 2. Some people say China is No. 2 but really…in terms of shale oil Argentina is No. 2,” Mr. Moshiri said in a meeting with the foreign press Wednesday.
    Argentina’s shale-oil and shale-gas reserves are located mainly in the Vaca Muerta formation, which means “dead cow” in Spanish, in the Andean province of Neuquen.
    “The potential in Vaca Muerta is big enough to make Argentina energy independent,” Mr. Moshiri said.
    And that is exactly what Argentina is seeking after years of declining oil and natural-gas production turned the country into a net energy importer. Argentina now spends billions of dollars each year to import expensive gas from Bolivia and Trinidad and Tobago even though it is sitting on vast reserves.
    Argentina ranks third in the world, behind China and the U.S., in potentially recoverable shale-gas reserves, with 774 trillion cubic feet, according to a study by the U.S. Energy Information Administration. Argentina is also thought to be home to vast quantities of shale oil.

  • #4478

    Charles Randall
    Participant

    CVX Miguel gets points for putting positive spin on Argentina Shale reserves but flunks on facts. Also seems to be extending shale gas reserves into shale crude projections & domestic use to world use neither of which has little basis.
     
    Argentina isn’t even in top 10 on Shale Crude Oil reserves or Bitumen reserves and is 0% for World Use  ….according to FactFish Argentina ranks about #32 at best for Shale Crude reserves and 0.0% for use.  All of the top 10 trend/seem follow the countries coal and oil reserves (US, CA, VZ, China, Russia, ect). 

  • #4477

    Charles Randall
    Participant

    CVX Miguel gets points for putting positive spin on Argentina Shale reserves but flunks on facts. Also seems to be extending shale gas reserves into shale crude projections & domestic use to world use neither of which has little basis.
     
    Argentina isn’t even in top 10 on Shale Crude Oil reserves or Bitumen reserves and is 0% for World Use  ….according to FactFish Argentina ranks about #32 at best for Shale Crude reserves and 0.0% for use.  All of the top 10 trend/seem follow the countries coal and oil reserves (US, CA, VZ, China, Russia, ect). 

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