Argentina presidential rival taps Shell executive

OREANDA-NEWS. For more than a decade, one executive was the visible face of opposition to the state-oriented energy policies spearheaded by late former president Nestor Kirchner and his wife and successor President Cristina Fernandez de Kirchner: Juan Jose Aranguren, chief executive of Shell Argentina. Now Aranguren could become the country's next energy secretary.

When the outspoken Aranguren steps down from his role as head of Shell's Argentinian affiliate on 30 June, he will take the energy helm at Fundacin Pensar, a think tank run by Buenos Aires city mayor and presidential hopeful Mauricio Macri's right-of-center PRO party. That would position him to be the countrys next energy secretary if Macri prevails in this Octobers election.

Its hard to underestimate the political sea change this could mean for energy investors attracted to Argentinas plentiful shale resources but long averse to the governments policies they see as interventionist and unpredictable.

Aranguren's future post in Fundacion Pensar, which Argus ascertained from a senior think tank official, exemplifies the stark choice Argentinians will face at the polls. Indeed, the contrast between the two best-placed presidential contenders has solidified in recent days, after the candidates named their running mates.

Ruling Front for Victory (FPV) candidate and Buenos Aires governor Daniel Scioli named the current president's legal and technical secretary Carlos Zannini. Although Scioli has long been seen as a distant Kirchner ally, the alliance with Zannini, a behind-the-scenes power broker closely identified with Fernandez and her husband's administrations, is seen as a signal of political continuity. That was confirmed by the presence of staunch Fernandez allies, including members of the influential youth group La Cmpora, on Scioli's ticket for legislative slots.