Loss of permit in Argentina a surprise: PetrobrasApril 5th, 2012 - 12:05 pm ICT by IANS
Rio de Janeiro, April 5 (IANS/EFE) The decision by Argentina’s Neuquen province to cancel a concession granted to Petrobras caught the Brazilian state-controlled oil giant by surprise, CEO Maria das Graças Foster said in an interview published Wednesday by the O Globo newspaper.
“I was surprised by the news. We were not expecting it. We have very positive relations with Argentina and were evaluating future opportunities for our permanence in the country,” the Petrobras CEO told O Globo.
The government of Neuquen province on Tuesday declared drilling permits granted to Petrobras Energia, the Brazilian oil giant’s unit in Argentina, and two other firms void.
Petrobras Energia “remains without production or proved reserves, and with insufficient investment” in the Veta Escondida area, the Neuquen Energy Ministry said.
Oil company Argenta Argentina’s permit to operate in the Covunco Norte area and the production permit granted to Tecpetrol, a unit of Argentina’s Techint, for the Fortin de Piedras area were also taken away, the ministry said in a statement.
The Covunco Norte area “remains without production or reserves, and with unprovable investment”, the ministry said.
- Brazil oil giant announces new find - Aug 04, 2012
- Woman to head Brazilian oil giant - Jan 24, 2012
- Brazilian firm makes offshore crude find - Mar 21, 2012
- Brazil says offshore find holds high-grade oil - Aug 15, 2012
- Brazilian firm makes deepwater oil find - Aug 27, 2012
- Brazilian oil giant to build world's largest ethanol plant - Aug 19, 2011
- Brazil oil giant's reserves' rise - Jan 13, 2012
- Argentina orders lowering of wholesale diesel prices - Jan 28, 2012
- Brazilian oil giant makes new deep-water find - Jul 13, 2012
- Brazilian firm to invest $9 bn in projects around the world - Mar 14, 2011
- Brazilian navy refloats tanker in Antarctica - Mar 05, 2012
- Brazil's Petrobras announces deep-water oil find - Jan 27, 2011
- Brazilian oil giant to invest $11 bn in Mexico - Aug 01, 2011
- Brazil oil field's name changed to `Lula' - Dec 30, 2010
- Brazilian oil giant announces contracts worth $4.5 bn - Jul 21, 2012
Tags: argentina, brazilian state, ceo, concession, covunco, efe, energy ministry, fortin, neuquen province, o globo, oil company, oil giant, permanence, petrobras, rio de janeiro, surprise, techint, veta