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New Rules Ensnare Oil Production in Argentina

A public relations adage holds that bad news is best released on Friday, so that it’s published in the little-read Saturday papers. And it’s a fair guess that Argentina’s government had an inkling that new rules governing the country’s petroleum industry and public shares in private companies, quietly made public on Friday, would not be warmly embraced.

The first set of rules, laid out in Presidential Decree 1277, labeled “Hydrocarbon Sovereignty”, order the creation of a national hydrocarbon planning commission that will register all companies involved in the sector.

Source: Financial Times. Read full article. (link)

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    So another reason why foreign petroleum company want to stay far far away from the nationalize happy Argentina?

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