Commodities
Oil Billionaire Says He Was Too Optimistic on Milei’s Reforms
- Rocca sees challenges in turning around Argentine economy
- Delayed shale investments to contribute to Tenaris sales drop
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Billionaire Paolo Rocca was too bullish on the pace of change that libertarian President Javier Milei could bring to Argentina.
“We were all probably over-optimistic in thinking that this could be done in the shorter term,” Rocca, an Italian-Argentine who is chief executive officer of Tenaris SA, a top world supplier of pipes to oil drillers, said on a quarterly earnings call.