Guzmán promised to release foreign money to the oil sector to invest

Guzman’s promise remove restrictions on foreign exchange access to oil tankers From his ministry office and through the zoom square, Martín Guzmán appeared at the Idea colloquium. He was interviewed by Daniel González, current CEO of Idea and former YPF, who reviewed every issue related to this sector, from access to foreign currency, investment rules, unexpected income tax. Of course, He did not seek to know about the attacks he was suffering from the tough wing of the official coalition.

Guzmán sent two signals to this sector. and reciprocated by the loudest applause of the day in what was a message of support.

The minister promised access to foreign currency to fulfill investment projects. And that if they reinvest, the unexpected income tax proposed, can be fully deducted.

When asked about gas shortages and their prices as a result of Russia’s invasion of Ukraine, Guzmán said: “A new map is being made, with a different way of looking at Argentina. Clearly at the G20 meetings, In the energy sector there is a historic, transformation opportunity from a productive point of view if it manages to accelerate development on another scale, another cost and improve competitiveness ” .

Here are other ministerial concepts:

• This is important the availability of foreign currency to facilitate investment, with a stronger forex generation profile, there will be more room for growth. Subsidies related to energy consumption should be reduced. Argentina has a good opportunity to contribute to the production of LNG (Liquefied Natural Gas).

• We are looking there staggering private investment and strengthening the YPF.

• Macroeconomic stability is key for investment and solving financial problems puts us in a better place.. Last week at the G20 meeting, the axis along with Argentina did not go through debt resolution and energy occupied the main part. There is global interest from both the public and private sectors in this sector.

• The infrastructure capacity, of which the most visible project is the Néstor Kirchner gas pipeline, will allow gas to become a marketable product, increase production at Vaca Muerta and release capacity to double fertilizer production.

• We will improve the network of gas and oil pipelines.

• The rules of the game indicate the need to adapt the method of capital regulation for the energy sector. This is necessary to facilitate foreign direct investment flows.

• Prices should guarantee domestic supply and lower production costs. There will be a link to the facilities to be exported.

• It is necessary to be smart from the geopolitical point of view with regional integration, a system that allows for scale.

• Unexpected income tax is a mechanism so that the shock of war is not regressive, so that shared growth works more efficiently. This is happening in a good part of the world with rising inflation.

• Got it collectively decide based on a dialogue not to discourage investment because if there is reinvestment of unexpected income the contribution will be lower.

• I see the public and private sectors working together. Ahead there is a project for Argentina to become a major producer of LNG that requires an investment of US $ 10 billion so that by 2027 the country can export approximately US $ 15 billion. It has a big impact.

Cecilia Nicolini

When Idea arrived this morning, few knew Cecilia Nicolini, who rose to prominence as a negotiator who had to deal with Moscow on Sputnik. And he knows himselfHe hid in a small room, perhaps to prepare his exposition. To those who approached him, he slipped that that was past, that he had not imagined the outcome of the invasion of Ukraine and now he has fallen into the climate change cabinet.

Of course, when he came on stage to interview Daniel Gonzalez, the former CEO of YPF and current CEO of Idea, he was strongly critical. How can I be the only female exhibitor, what’s going on in this industry, Idea CEO Daniel González acknowledged it and promised more women. When asked about public policies, Nicolini uttered what seemed like a script about climate change, programs, civil society participation. He did not stop.

“The change Energy is state policy “, he affirmed, which led to questioning whether he would add opponents. “They sit at the table and from all over the political spectrum to find superior ideas.”