MercoPress. South Atlantic News Agency
YPF takes over Argentina’s main gas distribution company belonging to BG
Argentina’s nationalized oil and gas company YPF announced it has taken control of Metrogas, after acquiring 54.67% of the shares of Gas Argentino (GASA) from the company British Gas (BG). The takeover leaves the oil company as the main stockholder and controller of 70% of the largest gas distribution company in Argentina. Read full article
Comments
Disclaimer & comment rules“YPF’s decision has as its main purpose making Metrogas “a more efficient and profitable company”
Nov 30th, 2012 - 09:13 am - Link - Report abuse 0Who believes YPF will make it more profitable than it was under BP???
It will be forced to supply cheap energy to Argentina until it is run into the ground.
AND, they have put the wellhead price of gas up by 44% to 'attract' investors!
Nov 30th, 2012 - 10:54 am - Link - Report abuse 0Ha, ha, ha. Deluded idiots.
Usual business: run company into ground; say they are inefficient; nationalize.
Nov 30th, 2012 - 11:56 am - Link - Report abuse 0Did they steal or buy these shares from British Gas - Thats all I want to know!
Nov 30th, 2012 - 11:59 am - Link - Report abuse 0Maybe are share swap for this?
Nov 30th, 2012 - 12:36 pm - Link - Report abuse 0http://www.prnewswire.co.uk/news-releases/british-gas-in-joint-venture-with-ypf-sa-to-study-south-atlantic-156840905.html
LOL! So lets get this straight... The Argentinian Government has made various complaints about the FIG giving licenses to explore for oil in 'disbuted' waters and they are now going to use British Gas to apply for a license from the FIG so that they can explore for oil under the FIG and assumably paying all relevant taxes to the FIG...
Nov 30th, 2012 - 12:44 pm - Link - Report abuse 0Mental...
I thought that maybe they had nationalised the BG stakes and thats why they were refusing to comment on the prices, or that BG were getting out before it was nationalised.
Absolutely mental...
well argentina clearly had money, so why the stay in avoiding default if they can go out and buy shares with the same money the very next day, its a bit of a slap in the face for the courts.
Nov 30th, 2012 - 01:07 pm - Link - Report abuse 0“The country’s foreign minister Hector Timerman said it would pursue legal action against firms exploring around the islands - and any other companies who do business with them”
Nov 30th, 2012 - 01:15 pm - Link - Report abuse 0http://www.dailymail.co.uk/news/article-2115812/Falkland-Islands-oil-dispute-Argentina-threatens-legal-action.html
Curiouser and Curioser....
What country will pay respect to argentina's judiciary when in fact argentina pays no respect to any other countries' judiciary?
Nov 30th, 2012 - 02:25 pm - Link - Report abuse 0I think BG need to be very careful getting too close to YPF. They should avoid leaving any onshore assets.
Nov 30th, 2012 - 02:29 pm - Link - Report abuse 0MercoPress 1st December edition:
Nov 30th, 2012 - 02:41 pm - Link - Report abuse 0Argentinian Government seizes British Gas assets and sues state owned YPF.
An interesting article re the holdouts. Some new details and the last paragraph is interesting:
Nov 30th, 2012 - 02:56 pm - Link - Report abuse 0http://edition.cnn.com/2012/11/29/business/argentina-debt-repayment/index.html?hpt=ila_c1
I know this is the wrong thread but for some reason I can only post on a couple of stories at the moment. Rather odd.
I found interesting that Dilma stated she was happy that argentina is open to working with the non restructured bondholders.
Nov 30th, 2012 - 03:05 pm - Link - Report abuse 0@12
Nov 30th, 2012 - 03:20 pm - Link - Report abuse 0one scary pic!
@12
Nov 30th, 2012 - 03:41 pm - Link - Report abuse 0Yes interesting - also penultimate paragraph.
“Miguel Kiguel, an economist, said talk of lifting the lock law was ”obviously coming a bit late. . . They only did it now because they´re on the ropes”.
Relating to joint enterprise with British Gas - maybe Argentina do not have high expectations for forthcoming adjudication of UN CLCS?
http://en.mercopress.com/2012/08/14/falklands-included-in-argentina-s-un-continental-shelf-committee-presentation
One wonders why Argentina did not simply take the shares without paying...erm... nationalise them.... could it be that they somehow need the British expertise...whereas they didnt the Spanish YPF?
Nov 30th, 2012 - 04:35 pm - Link - Report abuse 0or were they scared of the consequences of going up against the Brits, which they werent with the Spanish? (legally speaking)
Any rational Argentine who can possibly explain this: opinions appreciated as this seems rather confusing a decision/agreement/business arrangement.
16 Anbar
Nov 30th, 2012 - 04:54 pm - Link - Report abuse 0We need more info to judge. I must admit I'm amazed by the YPF/BG joint venture article. Doesn't that go against everything CFK has ever said about her approach to the Falklands?
Yeah is CFK going to take legal action against YPF!!!! LOLLLLL
Nov 30th, 2012 - 06:27 pm - Link - Report abuse 0We are talking of YPF buying additional shares in Metrogas from the BG Group PLC. (For approx 20 million), in order to gain a controlling interest in Metrogas.
Nov 30th, 2012 - 06:32 pm - Link - Report abuse 0YPF had an option until the end of November the purchase remaining shares in local consortium Gas Argentino, BG Group
http://energy.seenews.com/news/ypf-mulls-over-additional-stake-in-gas-argentino-report-317969
MetroGAS S.A. distributes gas to Buenos Aires and southern and eastern greater metropolitan Buenos Aires, so as such has no interest in exploration of oil/gas.
The PR newswire announcement is a bit strange, Howard William Dalton holds the position of “Executive Director”, this was announced 29/11/95
http://energy.seenews.com/news/ypf-mulls-over-additional-stake-in-gas-argentino-report-317969
Wow, and no cash given for taking over YPF in the first place. Does tbis say trustworthy &reliable?
Nov 30th, 2012 - 06:34 pm - Link - Report abuse 0Great news, and more nationalisations to come I hope =) Viva Reina Cristinita!
Nov 30th, 2012 - 09:39 pm - Link - Report abuse 0@21
Nov 30th, 2012 - 10:04 pm - Link - Report abuse 0Why don't nationalize this: http://www.lanacion.com.ar/1532021-maximo-kirchner-y-una-chacra-que-cuesta-mas-de-us2-millones
Oh wait, that would fall under land reform right?
We are fire and gas!!
Nov 30th, 2012 - 10:37 pm - Link - Report abuse 0https://www.youtube.com/watch?v=jqWGdtyK0EE
@ British_Kirchnerist
Nov 30th, 2012 - 11:51 pm - Link - Report abuse 0/random platitude
yeah bk bitch of kirchner is a better sound. More nationalizations and they can be like the USSR
Dec 01st, 2012 - 01:13 am - Link - Report abuse 0@25 POppy
Dec 01st, 2012 - 06:30 am - Link - Report abuse 0“like the USSR” or pretty soon, North Korea.
She is not a peronist.....she is really a communist. I feel for the good people of argentina because once those borders and visa are shut down, it's over
Dec 01st, 2012 - 03:59 pm - Link - Report abuse 0Still no explanation form the Usual Suspects huh?
Dec 01st, 2012 - 06:08 pm - Link - Report abuse 0Must have the whole office confused... (all 3 of them!) :-0
they are re-grouping in the west wing at the pink house
Dec 01st, 2012 - 09:03 pm - Link - Report abuse 0Commenting for this story is now closed.
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