Tag: Antonio BrufauAntonio Brufau
Singapore wealth fund Temasak has bought a 5% stake in Spanish oil group Repsol for just over one billion Euros, raising its total stake in the company to 6.3%, Repsol said in a release. The operation involves the entire portfolio of Repsol treasury stock at 16.01 Euros per share for a total of 1.036 billion Euros (1.35bn dollars).
The World Bank's arbitration unit has agreed to hear a complaint by Spanish oil firm Repsol over Argentina's nationalization of the company's former energy affiliate 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.
Repsol Chairman Antonio Brufau has expressed his determination to reach a solution on compensation for the nationalisation of its shares in YPF, and says that he is willing to take the matter to an international court level to ensure a fair amount is paid.
Argentina’s nationalized oil and gas company YPF and the head of Latin American and African operations for Chevron Corp. are discussing a potential agreement to develop the massive Vaca Muerta shale oil and gas formation in the Patagonian province of Neuquén.
Repsol, the Spanish oil producer whose Argentine unit YPF was nationalized in April, was cut to the lowest investment grade by Fitch Ratings, the first downgrade since reducing dividends to shore up its finances.
Spain energy Group Repsol regained rights on a 6% warranty-stake in the Argentine oil and gas giant YPF after the Petersen Group, which used to own 25.46% of the company, lost it as the result of not having met payments for the loan through which they initially enter the business without paying a single cent.
Spanish company Repsol has said it is pulling out of Cuba after failing in a recent attempt to find oil off the island. Chairman Antonio Brufau told journalists and investors that Repsol won't do another well in Cuba.
Repsol YPF SA the large Spanish oil and gas company on Tuesday sued Argentina for seizing control of formerly state-owned energy company YPF SA, in which Repsol held a majority stake.
The International Monetary Fund (IMF) said it does not see a trend in South America toward state nationalization of private companies despite moves made by Bolivia and Argentina in recent weeks, a spokesman said on Thursday.