Macri's presidential survival bid poses Vaca Muerta expansion risk

摘要

OIL and gas companies are warning that a prize freeze put in place by Argentina's embattled President Mauricio Macri will jeopardise the country's plan to double unconventional production from the Vaca Muerta shale, writes Gareth Chetwynd. Responding to his heavy defeat in primary polls, and with general elections set for 27 October, Macri introduced a measures including a 90-day freeze on fuel prices, with exchange rate controls, plus income tax cuts and welfare subsidies. Macri was beaten by Alberto Fernandez, whose running mate is Cristina Fernandez de Kirchner, a former Argentine president rem-bered as an advocate of heavy state intervention in the economy.