Argentina Orders Oil, Mining Exporters to Repatriate Funds
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Argentina ordered oil, gas and mining companies such as Xstrata Plc to repatriate all future export revenue as the government struggles to stem accelerating capital flight from South America’s second-biggest economy.
President Cristina Fernandez de Kirchner, in her first move since winning re-election Oct. 23, changed a 2002 decree requiring companies such as Repsol YPF SA, Total SA, Petroleo Brasileiro SA and Pan American Energy LLC to keep at least 30 percent of their export revenue in the country.