Chevron Says Shale to Help Make Argentina Energy Independent

Chevron Corp., the second-biggest U.S. oil company, said it’s preparing an investment that will help make the country energy independent by developing what could be the world’s second-largest shale oil reservoir.

“Some people think China is the second-largest shale oil,” Ali Moshiri, Chevron’s head of Latin America, Middle East and Africa, told reporters yesterday in Buenos Aires. “I believe after the U.S., Vaca Muerta holds the largest shale oil in terms of reserves,” he said, referring to a formation in southwestern Argentina that translates to Dead Cow.