Thursday, March 1, 2012

CFK assures the gov't will guarantee normal oil supply

President Cristina Fernandez de Kirchner questioned today a ‘sudden drop’ on YPF’s oil production and assured she will “use every necessary legal mean” to guarantee the normal oil supply in Argentina.

The remarks were made during the opening of the Congressional year for the 130th set of ordinary sessions of the House.

The President blamed the Spanish company for the deficit on the Argentine trade balance thanks to the amount of crude oil imports and fuel brought into the country by YPF on the past twelve months.

“Last year we saw an increase of fuel and crude oil imports. If we hadn’t import as much, we would have had a favorable surplus in our trade balance of over US$ 15 billion,” she complained.

Fernandez also reiterated her commitment with the maintenance of the regular oil supply in Argentina. “To assure the normal supply is a matter of national interest to Argentines,” she stressed.