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Argentina Is Not Quite Open for Business, Says Energy Minister

  • Aranguren tells radio station he’s keeping own money abroad
  • Nation is wooing major energy companies to invest in shale
oil tanks biofuel

Photographer: Diego Giudice/Bloomberg

Argentina’s energy minister, a millionaire who spent decades at Royal Dutch Shell Plc, is wooing the world’s biggest oil companies to invest in a nation still recovering from its 2001 default. But he’s happy to keep his own money abroad.

Juan Jose Aranguren told radio station 89.9 on Thursday that rebuilding confidence in the Argentine economy under President Mauricio Macri, who took office in December 2015, is like slowly filling a glass with water.