- Argentina's government agrees to pay $217M to BG Group, now owned by Royal Dutch Shell (RDS.A, RDS.B), and El Paso Energy, now owned by Kinder Morgan (NYSE:KMI), in long-standing arbitration cases stemming from the country's 2001-02 economic crisis.
- The World Bank's International Centre for the Settlement of Investment Disputes had found in favor of both companies in 2014.
- New business-friendly Pres. Macri hopes such steps will bring down borrowing costs and lure foreign investors back to the country, and has promised to boost investment in the oil sector, particularly in renewable energy and the Vaca Muerta shale formation.
- Now read Kinder Morgan: Ladies and gentlemen, Warren Buffett has left the building