This Argentine Giant Wants A Little Respect

Behind the wheel of his Ford Galaxy, Luis Angel Castillo weaves through the maze of the Lujn de Cuyo refinery in the Andean foothills of western Argentina. Just a few years ago, Castillo, manager of the refinery, would have encountered scores of maintenance workers during his rounds. Today, the facility seems all but deserted. The staff has been slashed from 700 in 1990, when it was state-owned, to just 49, now that its operator, YPF, is in private hands. "If everything is going well, the place runs itself from the control room," he boasts. "The fewer people, the better."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.