Monday, December 3rd 2012 - 20:20 UTC

Spain’s Repsol files complaint against Argentina over seizure of YPF

Spain's Repsol SA filed on Monday a complaint against Argentina before the International Centre for Settlement of Investment Disputes (ICSID) over its nationalization of energy company YPF SA, according to sources familiar with the dispute.

CEO Brufau was honoured by the industry as 2012 “Chief Executive Officer”

Last May the Argentine government seized 51% of YPF, the country's biggest oil and gas company from Repsol, accusing the former parent company of underproduction and under-investment.

In its complaint, Repsol calls the seizure unlawful and discriminatory, according to a source who asked not to be named and who had seen a copy of the document submitted to the ICSID.

The Spanish oil major denied Argentina's charge that it neglected to invest in YPF. The takeover also sparked protests against Argentina from the European Union and other trade partners. Repsol says the 51% of YPF expropriated by the government is worth 10 billion dollars.

In related news the Platts Global Energy Awards recognized Repsol’s CEO Antonio Brufau who received the 2012 “Chief Executive Officer” honour at a special ceremony in New York. The awards program, now in its 14th year, is one of the energy industry's premier recognition events and often referred to as the “Oscars” of the energy industry.

CEO Brufau won accolades for “shepherding Repsol's growth in upstream exploration activities, expanding the company into wind power and overseeing a stock boon that has outpaced its European rivals, it was his leadership of the last seven months, judges said, that really set him apart”.

The Platts Global Energy Award underlined that “within weeks of the Argentine government's sudden expropriation of Repsol subsidiary Yacimientos Petroliferos Fiscales (YPF), Brufau set a course that kept Repsol from potential dismantlement, retained its standing with investors, and positioned it for high-growth”.

24 comments Feed

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1 Pirat-Hunter (#) Dec 03rd, 2012 - 08:36 pm Report abuse
Sorry but we Argentina have no respect for fakland holding or repsol they are both thieves and corrupt colonists who deserve nothing but a jail sentence. I wonder if repsol ever payed taxes or if fakland holdings ever payed for the theft of Argentina's resources. If not, Argentine's should go and expropiate foreigners held corporates and property. As the new world order allows them to theft from us Argentine's we Argentines in turn should take our share and expect no punishment.
2 Pirate Love (#) Dec 03rd, 2012 - 08:47 pm Report abuse
@1 explain why they are thieves?? you cannot steal what you already own, but you already know that.

“take our share and expect no punishment”, you have no share it is not your to take, but your punishment will be learning this lesson the hard way.

SELF-DETERMINATION, All day every day!
3 briton (#) Dec 03rd, 2012 - 08:47 pm Report abuse
that’s not a very nice thing to say abt your kith n kin.
After all, there’s no pirates without ships,
And Spain is your ship,
Is it not .lol.
4 Britworker (#) Dec 03rd, 2012 - 09:03 pm Report abuse
Spain is wholly ill-equipped to deal with Argentina. They need a firm stick to beat them with, they understand nothing else.
5 Captain Poppy (#) Dec 03rd, 2012 - 09:05 pm Report abuse
Piss hunter, when will you learn that you are not argentine, bless the little things in live.
Your lack of knowledge and formal education is eveident in the words you type. As for the new world order, the nazi's have really been on your brain way too long. Get back in your igloo where you belong....under lots of snow in Canada. You are so unglued......learn how to be a good Canadain.

In the miniscule mind of a kirchner, corporations are suppose to give their profits to argentina, not the shareholders.
6 Pirat-Hunter (#) Dec 03rd, 2012 - 09:09 pm Report abuse
#2 wrong answer it was never property of anyone to sell if that is what you really mean and for that reason we Argentines will take our share lol. No need to explain a foreigner anything, what are you a comedian? about you tell us why thieves of Argentines wealth deserve an explanation? Coca Cola holdings, fakland holding and repsol can go back home on a ship or a create, it's their choice I can only promise them that they will be going back home, and that I will not rest until they do. Let's hope repsol returns the money they got for the shares of YPF since they did get payed or let's hope Argentine expropiate all Spanish firms scavenging in Argentina. Let start the expropiacion wars again spain and UK.
7 ElaineB (#) Dec 03rd, 2012 - 09:14 pm Report abuse
@1 Bless you, YOU ARE CANADIAN, not Argentine.
8 Tabutos (#) Dec 03rd, 2012 - 09:21 pm Report abuse
@6 funny how they call people who invest in there country thieves. its laughable
Argentina will always be a lesser country with attitudes like that. keep digging.... maybe your find some treasure though by that point you will prob never be coming back. Argentina will always be a joke of a country to the world. go start another dirty war with your self its about the only people you will defeat
9 Anbar (#) Dec 03rd, 2012 - 09:45 pm Report abuse
Pirat Hunter probably even embarrasses the paid-trolls. ;-0
10 surfer (#) Dec 03rd, 2012 - 09:50 pm Report abuse
Don't worry, the only country that's going to invest in Argentina is China, ask any number of African countries how well that story goes...
11 redpoll (#) Dec 03rd, 2012 - 10:33 pm Report abuse
Pirate froth Oh dear you caught rabies as you are frothing at the mouth? Its fatal you know. Your pirate boat called Das Maedchen von der Mist?Anchored below the Horshoe Falls perhaps?
12 Pirate Love (#) Dec 03rd, 2012 - 10:35 pm Report abuse
@6 you know it is correct answer and your blind ignorance and desire to spread msinformation controls you ability to reason and accept the truth.
Just as well The truth does not need or care for yours or argentinas acceptance.

SELF-DETERMINATION, all the truth you need :)
13 Nostrolldamus The 2nd (#) Dec 04th, 2012 - 12:20 am Report abuse
Europe time to pay your crime. The time has arrived.
14 Tabutos (#) Dec 04th, 2012 - 12:22 am Report abuse
as for south america there time was was ages ago they just cant accept it and default on it lol
15 Troy Tempest (#) Dec 04th, 2012 - 12:51 am Report abuse
@7,9,11,12 The Opposed

Here is FB for Alex Vargas:

FB for “NuKular-Alex” Alex Vargas

Pirat-Hunter appears to live in Toronto - all his references in his posts are from there.

Alex Vargas went to Toronto's Vaughan Rd Academy HS.

PH seems to have no knowledge of life in Argentina, first hand and does not seem to travel.
No passport - criminal record? Can leave, but cannot re-enter Canada???

Ken Ridge remembers Alex Vargas posting as himself on MercoPress before the name change to PH.

AV says lives in Salta, but no photos of him there.
Here is FB for Alex Vargas - you be the judge.

Check out his photos and his LIKES (hates)

PS - has removed his La Campora links!/avargas20
16 andy65 (#) Dec 04th, 2012 - 01:00 am Report abuse
@Pirat-Hunter How does it feel to live in an English speaking country with great values and freedoms?? amazing how many people love to escape to the great English speaking countrys ogf the world.
17 Pirate Love (#) Dec 04th, 2012 - 01:48 am Report abuse
@16 the greatest compliment any anti-brit troll can give, is to witness their importance they bestow for this great english language by studying and putting into practise this wonderful globally important gift ,
and to them we say, your very welcome.
How they use it however, relies very much in their lack of integrity.
18 Pirat-Hunter (#) Dec 04th, 2012 - 05:33 am
Comment removed by the editor.
19 Troy Tempest (#) Dec 04th, 2012 - 05:51 am Report abuse
@18 Alex Vargas

“#10 china is a good country to bad most racist attack anything that is different.”

That's rich, coming from a ranting anti-Semite like yourself !!

“ And stop showing us links to your lover we are not interested”

You don't want me posting your FB page up on here Alex??
But it shows all your Dictators that you admire!!

“Be careful guys there is a british pedophile hacking males accounts. I hear he is a convicted child molester.”

LOL, Mr. “I'm BI-sexual” Pi-rape-Hunter, you're the most likely one to be a homosexual, on here. All you talk about is gays - almost as bad as “sussie”

Ask Think or NostrilDamus II or ProRG Amer. what you can do to help La Campora.

They'll tell you you're embarrassing them !!!

20 Pirat-Hunter (#) Dec 04th, 2012 - 07:20 am
Comment removed by the editor.
21 andy65 (#) Dec 04th, 2012 - 12:10 pm Report abuse
@Pirat-Hunter When talking of such distaste please do not get our distinguished friend Troy Tempest mixed up with that vile excuse of a male the rather OBESE Maximo Kirchner.
Perople like you PH are spineless hiding behind a computer
22 Conqueror (#) Dec 04th, 2012 - 02:03 pm Report abuse
@18 What's the matter, alex? Is all the news about argieland the cesspit negative? Let's see now. You had an agreement with the Falklands over hydrocarbons sharing. Until you tore it up. You had an agreement with the Falklands over fishing. Until you tore it up. You got into loads and Loads and LOADS of debt. And you still owe most of it. Your idea of how to get a loan now is to wander around with your cap in your hand being told “No!” Remember how you complained to the IMO about Britain firing missiles? Nothing happened. And Britain still fires missiles. Remember tinpotman's UN seminar on British militarisation? And how everybody got up and walked out? And you seem to have mislaid a couple of your “boats”. Have you checked out the Libertad recently? I believe it's getting a suntan. Just thirteen days left before you get your marching orders from the IMF. Will you be in court to listen to the judgement that you can't have your boat back until you cough up at least US$20m? And the other court that will probably want US$250m? How are you getting on with the 50 or 60 WTO “disputes”? And now Repsol's filed a complaint about you at the ICSID. Isn't this the 49th case filed against argieland at the ICSID? Or is it the 50th? Did you know that the ICSID has only had 414 cases filed? That means argieland has had close to 12% of all the cases. Even Venezuela has only had 36. Are you trying for the record for the most corrupt, criminal country in the world? Would you like to know how many cases have been filed against the UK? None. Zero. Zilch. Got a passport, have you? Who did you buy that from? How much? Does it look like a “real” one?
23 briton (#) Dec 04th, 2012 - 02:12 pm Report abuse
poor pirate hunter,
his days of hunting are over,
and pirates aint allowed in canada.
24 Captain Poppy (#) Dec 04th, 2012 - 03:41 pm Report abuse
ALex...tick...tick...tick...........there is an explosion when the clock stops.

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