Argentina looks to speed up energy integration

Nov 06, 2001 01:00 AM

Argentina would like to speed up energy integration discussions between its Mercosur trade bloc partners to fast track interconnection of Southern Cone energy markets, particularly with the region's main market Brazil, a government source told. The various levels of state oil presence in Brazil -- federally-run energy company Petrobras, sector regulator ANP and state and national governments -- often create obstacles and challenges to Argentine companies looking to develop a presence in Brazil.

Argentina's government is looking for Brazil's Congress to approve measures under discussion that would make it easier for companies producing oil in Argentina to export crude products to the Brazilian market.
Brazil has significantly decreased its oil imports from Argentina this year as more domestic production comes on stream and the country diversifies oil imports. Increasing tensions between the two countries over economic issues have also strained Mercosur relations and slowed down the integration process.

Source: Business News Americas (BNamericas.com)
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