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Argentina energy minister sells stock in Shell

By on September 13, 2016

BUENOS AIRES, Argentina— Argentina’s energy minister is selling his stock in Royal Dutch Shell in line with a recommendation by the country’s anti-corruption office.

Juan José Aranguren was an executive of Shell’s Argentine affiliate before he became energy minister in December. He has faced growing criticism for continuing to own a reported $1.1 million in the company’s class A shares.

The Energy Ministry said in a statement Tuesday that Aranguren sold the stock following the recommendation by the anti-corruption office a day earlier to either get rid of the shares or set up a blind trust to handle his finances.

Argentina’s government has defended Aranguren and said there was no conflict of interest. But critics say Aranguren has access to privileged information about oil markets as energy minister and could benefit.

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