BUENOS AIRES, Argentina (AP) — A Chevron Corp. executive says the oil giant is facing risks in its joint venture with Argentina's state-controlled oil company YPF, but considers that worth it for the chance to exploit a huge shale deposit in Patagonia.
Chevron's chief for Latin America and Africa, Ali Moshiri, made the comment at a news conference Thursday, a day after provincial legislators approved the joint venture for exploration in Argentina's Vaca Muerta field.
The deal will take effect Friday, and the first phase calls for Chevron to invest $1.24 billion for drilling about 100 wells in the field in Argentina's Neuquen province.
Opposition politicians, environmental groups and others have voiced strong criticism of the deal. Complaints focus mainly on potential environmental problems and the government's refusal to release all of the contract's provisions.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
After getting out of federal prison early this week it looks like former state Sen. Manny Aragón isn't at a halfway house after all. He's back at his own house in the South Valley.
The owner and an employee of a local smoke shop are in federal custody accused of selling spice at the Rio Rancho store.
The New Mexico State Police officer who fired his weapon at van filled with kids during a traffic stop gone bad has been fired.
The civil case filed against former cop Levi Chavez in the gunshot death of his wife is coming to an end without a trial.
Could there be a serial dog snatcher in Roswell?
New Mexico is at the beginning of a deep freeze, and state officials are paying close attention.