'We've halted the decline in oil production'

President Cristina Fernández de Kirchner led the inauguration ceremony of a new oil exploration field in Chubut province and assured that “Argentines are capable of managing our corporations efficiently and effectively, and we don’t need to be foreigners to do that.”

During her speech, the President highlighted the fact that in only eight months after the taking over of YPF from Spanish oil giant Repsol, the decline in the production of oil was reversed.

“We have the third largest non- conventional fuel  reserve and lots of conventional oil to drill and explore,” she added.