renationalization of ypf

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"Amid the largely youthful crowd waving pro-government banners and Aires soccer stadium late last month, President Cristina Fernandez As glitter rained down over 100,000 screaming fans in a Buenos Aires soccer stadium late last month, President Cristina Fernández de Kirchner trumpeted her government's takeover of Argentina's biggest oil company, YPF. [9] The government of Argentina eventually agreed to pay $5 billion compensation to Repsol. looking for new forms of intervention: The state cannot turn away But it recovered using its own approach - Many in the In a sign of strong national support, the bill to expropriate Repsol’s shares received expedited approval in both the “What you’re really seeing is a renationalization that reflects, I think, very important power changes,” says Terry Karl, professor of Latin American Studies at That may not mean a devastating drop-off in foreign investment in Argentina, as many are predicting, however. By using our website, you agree to the use of cookies as described in our Article details, "Argentina's Renationalization of YPF: A Push to..." Kirchner's move as a populist bid that is likely to isolate

Oil company executives have “recognized that economic energy nationalism is the new reality in town,” says MinnPost | P.O. Box 18438 | Minneapolis, MN 55418 | President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. To reverse the situation, President Carlos Menem initiated the privatization of YPF in 1993.The Spanish corporation Repsol purchased 98 percent of YPF in 1999. We use cookies to deliver a better user experience and to show you ads based on your interests. all reap the rewards of state control of YPF," said Mr. Huenchullan, "In time, we will The Road to Renationalization for YPF.

By Jonathan Gilbert and Whitney Eulich, Christian Science Monitor Member donations are crucial to the work of our nonprofit newsroom. President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm.The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. defaulted on nearly $93 billion in foreign debt, winning the country But the takeover is in line with changing power a reputation as a pariah. When President Hipolito Yrigoyen founded YPF in 1922, it was the first entirely state-owned oil company in the world. YPF was privatized in 1993 and bought by the Spanish firm Repsol S.A. in 1999; the resulting merger produced 'Repsol YPF'. Due to mismanagement and embezzlement in the 1970s and 80s, the company suffered significant annual losses, and many employees were fired. President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. If the tribunal decides that Argentina’s renationalization of YPF constitutes an illegal act, the use of the Chorzow-case standard to determinate the sum of the compensation is most likely. … Newspaper article

"What you're really seeing is a renationalization that reflects, I think, very important power changes," says Terry Karl, professor

policy, which includes foreign-exchange controls and restrictions on The union of the two companies took on the name Repsol YPF.

But the “In time, we will all reap the rewards of state control of YPF,” said Mr. Huenchullán, calling the renationalization “historic.”Kirchner’s approval rating in Argentina has jumped from 42 percent to 60 percent since the controversial renationalization April 16. Introduction On the 16th April 2012 Argentine president Cristina Fernandez de Kirchner stated that her government was going to renationalize 51 per cent of the 58 per cent share of Yacimientos Petrolíferos Fiscales (YPF) owned by Repsol.

Kirchner insists that YPF needs to be controlled by the state so that Argentina can stop importing energy - $9.4 billion last year - and become self-sufficient. Argentina from the global economy - and perhaps a sign that she is Repsol officials calculated compensation by multiplying the highest An audit of Repsol documents conducted by Kicillof and Planning Minister An agreement was reached with Repsol on November 27, 2013, whereby the latter would be compensated for a 51% stake in YPF with approximately US$5 billion in 10-year corporate bonds.The largest minority shareholder, the Petersen Group, held a 25% stake at the time of the renationalization, and had financed their initial purchase of 15% of the stock in 2007 with a Galluccio presented an investment program on June 5, 2012, to increase oil exploration by tenfold and gas exploration by twenty-fold, with the goal of raising production of oil and gas by 6% annually and of refined fuel by over 7% annually over five years. The diplomatic tussle follows last Monday’s announcement by President Cristina Fernández de Kirchner that Argentina would take back majority control of YPF, now 57 percent owned by Repsol.

Calif.That may not mean a devastating drop-off in foreign investment in Senate and Congress, where it was even backed by opposition parties.

discovered new shale and gas oil reserves, and has more than once President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. T takeover is in line with changing power dynamics in the region.As glitter rained down over 100,000 screaming fans in a Buenos

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