Stories for April 18th 2012
European Commission Vice President Antonio Tajani addressed Argentina's plan to expropriate 51% of the 57.43% share-package Spanish ran Oil Company Repsol owns, during a speech at the European Parliament on Wednesday. From Rome Italy also voiced its concern with events regarding YPF and trade restrictions.
Shares of Argentina’s biggest energy company Repsol-YPF plunged 32.7% on Wednesday in Wall Street after transactions resumed following three days of suspension.
Colombia has sent a letter to the World Trade Organization protesting Argentina's import restrictions on its products, the government announced Wednesday.
Brazil’s Mines and Energy minister Edison Lobao discarded that operations of Petrobras in Argentina could be affected by the decision from the administration of President Cristina Fernandez to expropriate YPF from Spain’s Repsol.
Uruguayan president Jose Mujica expressed solidarity with the Argentine government decision to nationalize the oil company YPF belonging to Spain’s Repsol and said he does not like the “arrogance of rich Europe”. His position however was strongly criticized by the opposition.
The Royal Navy warship which hosted the Argentine surrender of South Georgia in 1982 is to be scrapped despite an intensive campaign to save it from extinction, reports the UK media.
The Navy’s Antarctic patrol ship HMS Protector this week ventured further south than ever before on her maiden deployment as she delivered vital supplies to polar scientists.
Recent incidents and sightings involving yachts in Antarctic waters have generated considerable interest and concern among the members of the International Association of Antarctica Tour Operators (IAATO).
Repsol’s Chairman Antonio Brufau said the Spain-based group will demand to Argentina a compensation of 10 billion dollars after President Cristina Fernández decided to nationalize the energy giant. Likewise, Brufau accused the Argentine government of “having distorted information” on regards the company’s production during Monday’s presentation.
Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.