Chevron Corp., the second-biggest U.S. oil company, said it’s preparing an investment that will help make the country energy independent by developing what could be the world’s second-largest shale oil reservoir.
President Cristina Fernandez de Kirchner wants tax evaders hiding about $160 billion in dollars to help finance Argentina’s oil-producing ambitions. Her offer: Buy a 4 percent bond or face the prospect of jail time.
Argentina’s Secretary of Interior Commerce Guillermo Moreno wants to strengthen the black market rate using new dollar securities the government plans to issue locally as part of a tax amnesty plan, according to Alfredo Piano, Chairman of Banco Piano SA.
Argentine wheat farmers, who reduced acreage for the past two seasons, may increase sowing areas as the government proposes reimbursing grain export taxes, said analysts from the three largest grain exchanges and the spokesman for Argentina’s largest wheat farming group.