Argentine President Javier Milei this week taunted Paolo Rocca, one of the country’s wealthiest chief executive officers, by calling him Don Chatarrín (Mister Scrap Metal). It is the first major energy engineering project the company has lost in more than 70 years operating in Argentina. Deregulation Minister Federico Sturzenegger was the first government official to speak in favor of awarding Welspun the project, arguing that Tenaris’ bid was reportedly 40% higher. The 2018 Buy Argentine Goods and Develop Suppliers Law, which Milei repealed after taking office, gave Argentine companies priority in state purchases and projects. One of the Milei administration’s first decisions was to name Héctor Marín, an engineer with decades of experience at Techint company Tecpetrol, as president of oil and gas incumbent YPF.
