Boudou: 'We should discuss whether YPF works following a national sense or not'

Vice President Amado Boudou came on stage today and sent a reminder to oil giant Repsol-YPF amidst rumors of a possible nationalization.  

“The problem here is not whether to nationalize it or not, it’s more about whether to company insists with a short-term financial strategy or goes beyond and uses its full investment potential to increase its production.”

Likewise, the official remarked that what should be discussed is “if the company has a national sense in terms that if its functioning aims to the oil production and everything such an enterprise implies, or on the contrary, if it works based on short-term financial logics.”    

“YPF holds 60 percent of the market share, so it’s necessary they use 100 percent of their production capacity. We need the company to explore for more oil but also to focus on production.”  

Afterwards, Boudou remarked that “It is obvious that Argentina need to satisfy its domestic demands”, and remembered, “YPF’s production have been decreasing since 1999, while gas production have also experienced a decrease since 2003.”  

Furthermore, the Vice President indicated that “considering the constant growth Argentina has been experiencing since 2003, it is not reasonable that having oil sources in our own soil, we have to be importing it.”