Argentina wants bigger Brazil role in oil market
Argentina wants bigger Brazil role in oil market
The Associated PressAssociated Press
Created: 04/20/2012 10:35:32 AM PDT
BRASILIA, Brazil—Argentina's planning minister says he wants Brazil to increase its share in his country's the oil sector even as it expands government control over the market.
Julio de Vido spoke in Brasilia Friday while meeting with government officials to discuss Argentina's expropriation of the controlling stake in Argentina's energy company YPF.
De Vida met with Brazil's energy minister and the president of state-run oil giant Petrobras, and told reporters that Argentina would like to see Petrobras increase its Argentine market share from 8 percent to 15 percent.
Mines and Energy Minister Edison Lobao says Petrobras invested $500 million in Argentina last year and will invest the same amount In 2012.
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