Argentina launches incentive program to raise oil production, exports

Argentina launches incentive program to raise oil production, exports

From spglobal.com

Argentina launched an incentive April 7 to spur oil production and exports, allowing companies making new investments of more than $100 million to freely use 20% of their export proceeds. The proceeds as part of the 15-year promotion program must be used immediately to pay external debts and dividends, the government said in a decree in the Official Bulletin, the newspaper of record. If not, the money must be deposited in banks in Argentina or abroad until they are used for those purposes, the government said. "We want to protect those who put their trust in Argentina, invest in Argentina and earn in Argentina, and ... (full story)

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