ARGENTINA'S OIL FIELD PRIVATIZATION TAINTED BY FRAUD CLAIMS

Argentina's ambitious program to privatize a significant portion of its oil production operations remains under a cloud. Argentine Federal Judge Nestor Biondi Apr. 3 ordered the seizure of documents at the headquarters of state oil company Yacimientos Petroliferos Fiscales to investigate allegations of irregularities in the program. Argentina is offering four major oil producing areas with combined crude reserves estimated at 256 million bbl under its next tender (OGJ, Jan. 14, p. 51).

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