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Opportunities as Vaca Muerta shows signs of life

An end to the battle between Repsol and Argentina should spur development in one of the world's biggest shale oil plays

After stumbling at the start, Argentina's efforts to develop the Vaca Muerta shale oil and gasfield, thought to be one of the world's largest, are starting to show signs of progress. The turning point has been a breakthrough in negotiations between the Argentine government and Repsol over the Spanish company's stake in YPF, which was nationalised in May 2012. In late November, the board of Repsol said that it "views favourably" a preliminary agreement hammered out by negotiators from Repsol, YPF, the Spanish government, the Argentine government and Mexico's national oil company Pemex, Repsol's largest shareholder. Details of the agreement have not been released, but it is believed to includ

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