MercoPress. South Atlantic News Agency
Argentina rapidly changing oil/gas industry levies to attract foreign investment
Argentina unveiled a new system of export duties on oil shipments that will cut levies as the government seeks to attract investment to revive stagnant production. The change means energy companies will receive 70 dollars per barrel of exported oil, up from 42 previously. Argentina controls the price of oil exports in order to guarantee domestic supply. Read full article
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Disclaimer & comment rulesAh, so finally CFK has realised that the only way to make money out of the oil and gas industry is to allow the companies to sell at current market values, and that capping the price helps no one in the long run.
Jan 09th, 2013 - 09:02 am - Link - Report abuse 0This maybe a case of too little, too late, and the Argentine public will feel the financial bite worst of all, with high inflation, high fuel bills leading to less disposible income, which will adversely affect the economy.
Not only that, but companies are still reluctant to invest in Argentine gas and oil because of the stealing Repsol shares of YPF, doesn't give these companies a warm fluffy feeling that Argentina would honour any agreements.
I mean why would it? Argentina doesn't seem to honour any agreements or treaties it has signed.
don't do it lol. (the cake is a lie)
Jan 09th, 2013 - 09:29 am - Link - Report abuse 0Sure, the Country notorious for seizing foreign owned assets & refusing to compensate its owners wants those companies to come back & this time Cristina promises not to seize your Billions when she gets into financial trouble.
Jan 09th, 2013 - 10:22 am - Link - Report abuse 0“I promise I won't steal your assets, I just did it to that other guy because I 'had' to.”
Jan 09th, 2013 - 11:40 am - Link - Report abuse 03 Months Later...
“I took your assets because you're an Anti-Kirchnerist Pirate Vulture that didn't invest enough in our venture. So I 'had' to take your assets. It's a sovereign country, so I don't care what your courts say you vulture!”
Who wants to make dirt holes in the ground with botox face?
Sounds to me like all the talk of investment by foreign companies hasn't actually materialised. Just because Argentina has large reserves of any natural resource doesn't mean there isn't somewhere ekse where investing makes better sense.
Jan 09th, 2013 - 01:02 pm - Link - Report abuse 0Colombia is discovering more oil and other natural resources almost weekly. All untapped and with a business friendly government who won't seize any assets or lie about national statistics.
Seems multinationals are as gullible as the Argentine government was hoping.
There is still the little issue of Int'l companies not being able to repatriate their profits. What good is making the money if you can't use it?
Jan 09th, 2013 - 01:28 pm - Link - Report abuse 0I can't see this lasting too much longer but Arg needs the U$ so we will see.
could have done this years ago and not stolen ypf, but then again that wouldn't be as fascist
Jan 09th, 2013 - 04:14 pm - Link - Report abuse 07 KFC de Pollo (#)
Jan 09th, 2013 - 04:52 pm - Link - Report abuse 0Jan 09th, 2013 - 04:14 pm
If the stupid b*tch had done it a year ago and not stolen YPF from Repsol, Vaca Muerta would be starting to go into production with Repsol having put up the foreign investment!!!!!!
This is the result of keeping to the “relato”!!!!!!!!
Simon
Jan 09th, 2013 - 06:26 pm - Link - Report abuse 0Spot on.
Repsol were bent over a barrel and still trying to perform. Stupid bitch steals from them, and then realise the best she can get from anyone else is 28% worse return for anything.
Mad mad cow.
Suck them in, then change them again, obvious has the plastic nose on her face.
Jan 09th, 2013 - 08:20 pm - Link - Report abuse 0TMBOA continues her two faced attempt at 'enticing' foreign investment.
Jan 10th, 2013 - 07:45 pm - Link - Report abuse 0I have only one thing to say: ha, ha, ha to the power googol!
'Argentina rapidly changing oil/gas industry levies to attract foreign investment' but manufactures blocks to stop o/g export. With blocks also on profits from o/g leaving the country, there must be HUGE profits in the game for any foreign o/g company wanting to participate, and huge gaps in the edifice of control for big monies to be 'lost' into foreign banks.
Jan 11th, 2013 - 12:38 pm - Link - Report abuse 0Commenting for this story is now closed.
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