Chile Finance Minister: Argentine Expropriation Won't Hurt Confidence In Chile
2012年4月18日 - 1:56AM
Dow Jones News
Chile's Finance Minister Felipe Larrain ruled out Tuesday the
possibility that investors' confidence in Chile will be hurt by
neighbor country Argentina's Monday announcement it will
nationalize oil-and-gas company YPF SA (YPF).
After a monthslong battle, Argentina President Cristina Kirchner
said her country will expropriate Spanish company Repsol YPF SA's
(REP.MC) main unit and the largest oil-and-gas company in
Argentina, YPF, raising concerns among firms with operations in
Argentina.
"We don't believe [the Argentine situation] will raise concerns
over Chile," Larrain said.
It is important that Argentina takes footsteps in line "with
Argentine laws, international laws and international treaties,"
Larrain said.
Chile state-owned oil-and-gas company Empresa Nacional del
Petroleo SA, or ENAP, has invested over $100 million in Argentina,
Larrain said.
The government will support ENAP's interests in Argentina,
Larrain added. He said ENAP's situation isn't going unnoticed by
the government.
ENAP is evaluating legal steps after the Argentine government
revoked in March one of its concessions in the province of
Neuquen.
On top of the revoked Canadon Perdido-Campamento concession,
Enap's international unit, ENAP Sipetrol Argentina, holds another
three southern Argentina concessions, which it is exploring.
-By Graciela Ibanez, Dow Jones Newswires; 56-2-715-8929;
graciela.ibanez@dowjones.com
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