View Full Version : Huge oil discovery boosts Argentina's potential

11-10-2011, 02:44 AM
Huge oil discovery boosts Argentina's potential

BUENOS AIRES, Argentina (AP) A huge oil discovery by the Spanish company Repsol has sharply boosted Argentina's potential to cash in on energy and could eventually attract an infusion of investment to exploit the shale oil.
Experts said Tuesday that the find is very Fujian Dehua Heighten Ceramic Co.,Ltd (http://en.trade2cn.com/companyShop/29041001.html) promising, but it is unclear how much time and investment may be needed to capitalize on the oil beneath the rocky, barren plains of Patagonia. The company Fujian Minqing Rising Tile Co., Ltd (http://en.trade2cn.com/companyShop/26611568.html) said the discovery includes 927 million barrels of recoverable oil and natural gas, of which 741 million barrels is shale oil.
Shares in Repsol YPF SA soared a day after the find was announced, rising 6.3 percent in Madrid and 7.4 percent in New York at the close of trading on Tuesday.
Former Argentine Energy Minister Jorge winchance solar (fujian) technology co., ltd (http://en.trade2cn.com/companyShop/25966316.html) Lapena said it's a "spectacular announcement" but that the reserves have yet to be proven and that studies on economic feasibility and environmental impact still need to be carried out.