• Business, Energy or Environmental regulations or discussions
  • Activity in the Oil and Gas sector (including regulatory)
  • National Economic Trends

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    Basic Political Developments


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    Basic Political Developments

    • Warrants were issued Nov. 7 for the arrests of 5 Iranians and a Lebanese for their alleged involvement in the 1994 bombing of a Jewish cultural center in Buenos Aires.

    • UN Secretary General Ban Ki-moon made an official trip to Argentina Nov. 7 to meet with President Nestor Kirchner and President-Elect Cristina Fernandez de Kirchner. Ban Ki-moon stated while in Argentina that he has offered to mediate a dispute between Argentina and the United Kingdom over the sovereignty of the Falkland Islands.

    • Argentine Interior Minister Anibal Fernandez rejected the rumors that the State Accounting Office (known as SIGEN) is planning to audit the accounts of Legislative and Judicial branches.

    Business, Energy or Environmental regulations or discussions

    • Spain's Marsans group, which controls Argentine domestic airline carriers Aerolineas Argentinas and Austral, announced Nov. 7 that it has no plans of pulling out of Argentina due to labor problems. Strikes caused a 3 day stoppage in June. Together, the two Marsans controlled air carriers comprise more than 80 percent of domestic travel in the South American country. Marsans also has holdings in Chile, to which it reiterated commitment.

    Activity in the Oil and Gas sector (including regulatory)

    • The energy sector, including oil and natural gas firms, is struggling in Argentina, according to a Nov. 7 report. The three of the largest energy firms in the country -- Transener, Repsol YPF and Petrobras -- have all reported losses or are near losses.

    National Economic Trends

    • Argentina announced Nov. 7 that it has increased taxes on soybeans, corn and wheat in an effort to increase government revenues as crop prices rise. The tax increase is also intended to limit domestic food inflation. The increase has been met with outrage in the agriculture sector which contends that the measure is unjust and directly affects its members, causing damage to crop producers. Consumer advocacy groups, however, are pleased with the measures and are calling for similar measures to be applied to petroleum exports.


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    Basic Political Developments

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