Tag: Repsol-YPF

Monday, June 9th 2014 - 06:10 UTC

US Embassy praises Argentina: says 'investment climate has started to change'

“People from the private sector tell me that they are receiving more and more phone calls”, said Kevin Sullivan

The United States Chargé d'Affaires at the Embassy In Buenos Aires Kevin Sullivan, who is in charge of the embassy on an interim basis, praised Argentina’s agreement with Paris Club, ICSID and YPF-Repsol deal, saying “the situation is changing, in a good way” and pointing out a change in investment climate.

Friday, May 23rd 2014 - 23:38 UTC

Bye, bye Argentina: Spain's Repsol sells all assets and end operations in the country

Cristina Fernandez seized a majority of assets in Repsol's YPF in 2012 and two years later reached a compensation deal

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 dollars in compensation for Repsol's stake in Argentine oil firm YPF.

Friday, May 9th 2014 - 07:01 UTC

Repsol/YPF 'marriage' definitively over; Spanish company ends 15-year presence in Argentina

Minister Kicillof (L) signed the deal with representatives from Repsol

Spanish oil major Repsol signed a definitive settlement agreement Thursday with Argentine President Cristina Fernandez's administration, which transferred more than 5 billion dollars in bonds as compensation for the 2012 seizure of Repsol's controlling stake in energy firm YPF.

Thursday, May 8th 2014 - 04:57 UTC

Repsol sells YPF stake for 1.25bn dollars to Morgan Stanley; keeps 0.5% share

A 'strategic' decision said Repsol that recently settled the seizure of YPF with the Argentine government

Spain's Repsol oil and gas company says it has sold an 11.86% stake it owned in Argentina's YPF energy company to Morgan Stanley for 900 million Euros (1.25 billion dollars), effectively leaving it without a stake in a company it once controlled.

Friday, April 25th 2014 - 06:04 UTC

After a long debate, Argentine Congress approves Repsol/YPF agreement terms

Cristina Fernandez anticipated that with YPF under government control Argentina will be hydrocarbons self-sufficient by 2019

After a 16-hour debate, Argentina's Lower House passed the law to pay Spanish Repsol 5 billion dollars in bonds to compensate for the 2012 seizure of a majority stake in Argentina's energy company YPF.

Saturday, February 22nd 2014 - 06:21 UTC

YPF and Repsol are expected to sign a compensation deal next week

Apparently Spain's Rajoy and Mexico's Peña Nieto have played important roles in helping to reach a deal

Spanish oil major Repsol said Friday that, as part of a preliminary compensation deal struck last year with the Argentine government for the seizure of its former unit, YPF, it will take a charge of 1.28 billion Euros (1.76 billion dollars) on its 2013 earnings.

Tuesday, November 19th 2013 - 09:08 UTC

US government sides with Repsol in the YPF assets seizure with Argentina

US Secretary of Energy Ernest Moniz was asked about the issue in Madrid

United States sided with Spain's Repsol position in the dispute over the seizure of a majority stake in YPF by the administration of Argentine President Cristina Fernandez last year, a dispute which remains unresolved over compensation for the assets.

Saturday, December 22nd 2012 - 08:03 UTC

World Bank’s arbitration unit receives Repsol’s complaint over YPF nationalization

Repsol argues that its 51% stake in YPF taken over by the Argentine government is equivalent to 10bn 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.

Monday, November 26th 2012 - 19:35 UTC

The Chicago Tribune on the bonds dispute: ‘Cry for yourself, Argentina’

Cristina Fernandez “has led her nation to the brink of disaster by refusing to play by the rules of global finance”

The Chicago Tribune, one of the leading Midwest US newspapers has been following closely the dispute in New York courts between the Argentine government and investment funds that are demanding full payment of sovereign bonds.

Friday, November 16th 2012 - 06:11 UTC

Rajoy would have liked Cristina Fernandez to have attended the summit

“As everybody knows, the Argentine decision on YPF satisfied neither us nor anyone around the world”, said the Spanish president

Spanish President Mariano Rajoy stated that he “would have liked” his Argentine counterpart, President Cristina Fernández to have attended the XXIIth Ibero-American summit, starting Friday in Cádiz.


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