As the FT reports this morning Argentina has found a way to deliver country-by-country reporting for its oil sector:
Argentina is to renationalise YPF, its biggest oil company, ousting the Spanish group Repsol as majority shareholder and prompting a furious row with Madrid.
In a move likely to have significant investor and diplomatic fallout, Cristina Fernández, Argentina’s president, sent a bill to Congress on Monday to put 51 per cent of YPF in state hands.
It may not be popular. I think accepting country-by-country reporting may be more palatable for most in the sector. But without that accountability I suspect such moves may become more common.
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