YPF was created in the 1920s by Argentina’s government and privatized in the 1990s. Fernandez’s decision came as Argentina grapples with a chronic energy deficit, with government spending on energy imports rising sharply, putting pressure on state coffers.
What happened to Repsol in Argentina?
Spanish oil company Repsol has ended its operations in Argentina, two years after the government seized its assets. Last month the Argentine congress gave final approval to pay $5bn (£3bn) in compensation for Repsol’s stake in Argentine oil firm YPF.
Who owns YPF?
The government of Argentina eventually agreed to pay US$5 billion in compensation to Repsol, which had previously owned YPF.
Renationalization of YPF.
|President Cristina Fernández de Kirchner announces the bill to renationalize YPF.|
|Participants||Government of Argentina, Repsol, government of Spain, Petersen Group|
What type of business is YPF?
YPF Sociedad Anonima (YPF) is an energy company. The Company is operating a fully integrated oil and gas chain. The Company operates through the segments, including Exploration and Production, Downstream, and Corporate and Other.
Does Repsol still own YPF?
If the deal goes through, Repsol would still own about 12 percent of YPF, which it could sell, raising more cash to add to the $4.3 billion it received earlier this year from the sale of its liquefied natural gas business to Royal Dutch Shell. … Argentina’s shale oil and gas resources could help turn things around.
Where is YPF located?
and Other segment covers corporate administrative expenses and assets, construction activities, and the environmental remediation. The company was founded on June 2, 1977 and is headquartered in Buenos Aires, Argentina.