LatinNews Daily - 16 September 2021

* Argentina’s President Alberto Fernández has unveiled a bill which seeks to promote investment in the hydrocarbons sector, and which he plans to present to congress this week. The bill establishes a framework to incentivise investment in the sector, with the aim of “generating a stable horizon with clear rules” on taxation, fiscal matters, and regulations over the next 20 years. Fernández, who was accompanied by Economy Minister Martín Guzmán and Energy Secretary Darío Martínez, called for Argentina to “give a maximum boost to oil and gas activity” and stressed that the bill presents an ambitious plan “for Argentina to produce in excess, to export the surplus, and to bring in dollars” at a time when the country needs foreign currency. This was echoed by Martínez who said that the bill aims to increase hydrocarbons production to guarantee Argentina’s energy sovereignty as well as generate income in foreign currency to strengthen the central bank’s reserves.

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