It's a funny country, with so much potential but bad policies keep tripping it up. They have very log gas prices, which make investment and exploration unattractive, then they accused YPF (then part of Repsol) not to invest sufficiently and used that as an excuse to nationalize that.
Whether they can muster the funds for developments of the (very large) shale gas resources remains very much to be seen, the government is cash strapped (despite record soya bean prices) and the parallel dollar (returning after the introduction of very stringent capital controls) trades at a 40%+ premium..
From bad to worse..
President Cristina Kirchner orders state entities to buy from Argentinian companies
State entities in Argentina must now buy all fuel from recently nationalized oil company YPF, and civil servants must receive their pay at a major state bank, the government has ordered.
Whether they can muster the funds for developments of the (very large) shale gas resources remains very much to be seen, the government is cash strapped (despite record soya bean prices) and the parallel dollar (returning after the introduction of very stringent capital controls) trades at a 40%+ premium..
From bad to worse..
President Cristina Kirchner orders state entities to buy from Argentinian companies
State entities in Argentina must now buy all fuel from recently nationalized oil company YPF, and civil servants must receive their pay at a major state bank, the government has ordered.