IDEA Colloquium: Argentina’s largest private investor country diagnosis

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Mark Bulgeron According to him, he is the CEO of Pan American Energy Group (PAEG), the main private investor in the country. Its businesses range from oil production to fuel refining and marketing through Axion. It has a Chinese company as a partner in silence already BPBritish origin.

While at the 58th IDEA Colloquium, where he participated on a panel, he spent a few minutes speaking with the press. He left out some important clarifications. He claimed that the country is going through a period of calmer than it has been in the last three months and assured that it is practically impossible to stop the development of Vaca Muerta.

“I think there has been a period of greater calm in the last three months; “I think today we are all living a little more calmly compared to the last three months,” Bulgeron said in response to a question about the progress of the economy.

Without mentioning them, the PAEG president talked about exchange and economic instability after leaving the Palacio de Hacienda. Martin Guzmanshort step Silvina Batakis and arrival Serge Massa. Therefore, he winked at the current head of the economy.

– In other words, do you think the situation is less bad? – asked the journalists.

“Yes, that’s right,” he replied.

Martin Guzman resigned on July 2. The weekend he arrived in Quinta de Olivos, President Alberto Fernandez appointed Silvina Batakis to replace him, with the approval of Vice President Cristina Kirchner. A few days later, the blue dollar went from $240 to $350. This rise activated mass coming to the ministry.

With the new minister, the parallel bill has fallen – it closed at $289 today, partly due to the strengthening of the exchange rate and the implementation of fiscal austerity measures and a reduction in the money supply.

He then explained: “In the industry we always say that for us the price of Brent is more important [el barril de crudo de referencia en la Argentina] in determining the projects of the country”.