Argentina scraps plan to cut domestic crude price
Argentina scraps plan to cut domestic crude price
17 Aug 2016, 9.22 pm GMT
Buenos Aires, 17 August (Argus) — Argentina's government pulled the plug on an agreement to trim artificially high domestic crude prices.
The government had hammered out the unofficial plan with local oil companies last week in exchange for a freeze on retail fuel prices that have accelerated since the start of 2016.
"The national government does not have in its agenda any type of decrease in the subsidy," said the governor of oil-producing Neuquen province, Omar Gutierrez, following a meeting yesterday with interior minister Rogelio Frigerio in Buenos Aires.
Senator Guillermo Pereyra, the leader of the key oil workers union in Neuquen, also took part in the meeting and confirmed the price will remain steady for now. He said the issue will be analyzed by the sector as a whole.
More:
http://www.argusmedia.com/news/article/?id=1296155
