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News > Latin America

Head of Argentina's State Oil Company Found in Panama Papers

  • People walk past a YPF petrol station in Buenos Aires Nov. 26, 2013.

    People walk past a YPF petrol station in Buenos Aires Nov. 26, 2013. | Photo: Reuters

Published 9 May 2016

Miguel Angel Gutierrez, an ally of President Mauricio Macri, is listed as the beneficiary of an offshore tax shelter.

Miguel Angel Gutierrez, the head of Argentina's state owned Fiscal Oilfields corporation is said to have interests in an offshore company in the latest Panama Papers leak released Monday.

Live Update: New Panama Papers Embroil Latin American Elite

Gutierrez founded a company named Chartley Trading LTD. It was opened in July 2006, and it remains active. Gutierrez is listed as a beneficiary from the account.

Gutierrez was the CEO of Telefonica Argentina, one of the nation's largest telecommunication companies. The service provider Movistar, which operates in Europe and Latin America, is part of his corporate interests. As of now, previous links between Macri and Gutierrez are not known.

On March 9, the right-wing Macri government named Gutierrez the head of Argentina's Fiscal Oilfields company, a state-owned oil corporation.

The decision to install Gutierrez as the head of the oil company came as a surprise to former YPF President Miguel Galuccio, who had become very close to President Mauricio Macri in recent months and hoped to maintain his position.

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