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Expropriation will only be focus on the oil&gas se

[oilandgas111]

French article translated with google translate. To sump up expert thinks the governement will only expropriate oil&gas sector. The other sectors should be fine

 

Spanish companies operating in Argentina have reason to beworried after the misadventure of the Repsol oil, expropriated Monday its subsidiary YPF, but according to experts, the riskis less because they are not in a strategic sector as energy.

"I think the possibility (that the same thing happens to otherSpanish groups) is small because the main problem is that Repsol energy, as oil as a gas, is a strategic resource for Argentina" says Soledad Pellon, an analyst at the brokerageIG Markets.

"It was the only sector that they (the Argentine government, ed) would touch. That the interest of nationalizing such enterprises, because in the end, what they want is to exploittheir own oil , "she adds.

"It looks like an attempt populist fight against rising fuel prices and the deterioration of public finances, as if Repsol was the source of the problems with Argentina," said Anita Paluch, an analyst at Gekko Global Markets.

The president of Repsol, Antonio Brufau, has himself acknowledged Tuesday that the group was"malheureusemement on a critical area," saying that the decision of the Argentine President Cristina Kirchner was surely politically motivated.

"Legal uncertainty is one of the worst enemies of investments,and of course, the measures taken against YPF deter new investment in the country," said Natalia Aguirre, head of analysis and strategy to the brokerage Renta 4 .

"The attraction (of Argentina) for foreign capital will really be affected," added Jose Maria Martin Guevara, an economics professor and expert on the energy sector.