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Argentine austerity tests patience of producers

Cash-strapped Argentina is offering generous rewards for gas production. But Buenos Aires has still not put its money where its mouth is Cash-strapped Argentina is offering generous rewards for gas production. But Buenos Aires has still not put its money where its mouth is.
By Chris Noon 23 March 2018 Americas / Companies & Finance 0 30132
Argentine Energy Minister Juan Jose Aranguren. (Argentine Energy Ministry)

While consumer-focused subsidies are a thing of the past in Argentina, the country does offer the world’s best rewards for gas production. However, there are rumbles of discontent among producers because of a growing backlog in payments.

Energy Minister Juan Jose Aranguren said last week that the country plans to pay around $1.5 billion of the gas production subsidies it owes to oil companies in instalments from 2019. Interfax Natural Gas Daily first reported that mounting debt was delaying payments...