Chevron edges closer to Argentina shale deal

San Ramon-based Chevron and Argentina's state-run oil company have moved closer to forming a partnership that would invest billions of dollars to help launch production of the South American nation's shale-oil resources.

The deal would give Chevron a foothold in Argentina, which is believed to have the world's third-largest shale gas and oil reserves. Only the United States and China have greater shale resources.

Executives from Chevron and Argentina-based YPF signed an agreement to create a joint venture within a year.

Under the agreement, Chevron and YPF would spend about $1 billion to drill wells in the Vaca Muera energy field in western Argentina.

Chevron's shares fell 0.2 percent, or 19 cents, and finished at $109.91 Wednesday.

Cooper appoints new treasurer

Pleasanton-based Cooper Cos. has appointed Brian Andrews as treasurer of the contact lens and optical products maker.

Andrews will lead Cooper's capital market activities, global treasury operations and liquidity management.

The appointment is effective Jan. 1.

Andrews has served as assistant treasurer of Cooper since April 2006. Before he joined Cooper, Andrews worked for Keybanc Capital Markets and ING Barings.

-- Staff



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