Shell reassures Argentina

BUENOS AIRES, September 30, 2016 – Shell will continue to invest in Argentina through 2020, the company said late on Thursday following a meeting between chief executive Ben van Beurden and President Mauricio Macri.

Shell is looking to direct USD 300 million per year towards its operations in the country, covering exploration, refining, distribution and marketing. Marci confirmed the news on his personal Twitter account. Shell’s announcement comes less than a month after the company said its downstream assets in Argentina were under “strategic review.”

Earlier this month, Shell had alluded to a continued commitment to Argentina in sectors other than downstream. “A revision of our downstream portfolio means an evaluation of our model and its assets in the country … Shell has a strong commitment to Argentina, where we have more than 100 years of history,” it said in a press release.

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