BMI View: Argentina’s technically recoverable shale resources are the third largest in the world, behind only China and the US. Yet the Argentina’s business environment has turned increasingly negative in recent years, and this has only been further exacerbated by the expropriation of YPF from Repsol in early 2012. There appears, however, to be a small but growing cadre of international and national oil companies seeking to gain first-mover advantage by tapping potentially game-changing shale resources in the Vaca Muerta formation – despite Argentina’s risky business environment. If the country is able to make the necessary investments, its shale potential …
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