Tag: Repsol YPF, S.A.

• Wednesday, April 18th 2012 - 08:26 UTC

  Fitch places Repsol on Rating Watch Negative following the YPF takeover operation

  

  Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.

• Wednesday, April 18th 2012 - 08:15 UTC

  “Argentina has just shot itself in the foot” warns Spain Foreign minister

  

  Spain’s Foreign Minister José Manuel García-Margallo warned on Tuesday that “Argentina has just shot itself in the foot” as the expropriation of YPF oil and gas company might lead to “a break- up with both Spain and the international community.”

• Wednesday, April 18th 2012 - 08:10 UTC

  Hague expresses deep concern over the YPF case and promises support for Spain

  

  British Foreign Secretary William Hague said he was “very concerned” at President Cristina Fernández announcement to expropriate YPF, a decision he believes “goes against all the commitments Argentina has made in the G20 to promote transparency and reduce protectionism.”

• Wednesday, April 18th 2012 - 01:05 UTC

  Bolivia’s Morales takes distance from YPF/Argentina conflict and praises Repsol

  

  Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.

• Tuesday, April 17th 2012 - 21:41 UTC

  IMF says investment climate in Argentina unpredictable; EC cancels bilateral meeting

  

  The European Commission called off a meeting with officials in Argentina after President Cristina Fernández revealed plans to expropriate 51% of YPF from its mother corporation Spain’s Repsol.

• Tuesday, April 17th 2012 - 07:07 UTC

  Mexico appeals to CFK: nobody in its right mind invests in countries that expropriates

  

  Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.

• Tuesday, April 17th 2012 - 06:58 UTC

  Chavez supports nationalization of YPF; offers Venezuela’s experience in the matter

  

  Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.

• Tuesday, April 17th 2012 - 06:52 UTC

  Chile’s Enap, a partner of Repsol, “so we are also involved in the YPF dispute”

  

  The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.

• Tuesday, April 17th 2012 - 03:38 UTC

  US on YPF takeover: ”Having an open competitive market is a preferable model”

  

  US Secretary of State Hillary Clinton said Argentina will have to justify and assume the responsibilities of its decision regarding the YPF dispute between Argentina and Spain, but at the same time defended models that include competition and market access.

• Tuesday, April 17th 2012 - 03:12 UTC

  EC supports Spain and warns YPF expropriation can seriously damage business climate

  

  The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.