Interview with Sam Logan (*) Angering Spain by seizing and nationalizing a majority of Repsol's shares in YPF and ramping up the rhetoric over the Falkland Islands as exploration deals promise to make the territory a major oil player overnight, Argentina is making few friends in the fossil fuels industry these days.
Argentina's nationalized oil and gas company YPF said on Friday it had bought back 79 million dollars in 2028 bonds that it was obliged to repurchase in the case of a state takeover.
Argentina's state entities must purchase diesel, gasoline and lubricant supplies for cars, boats and planes solely from YPF, the recently nationalized oil company, and not competitors like ExxonMobil, Petrobras or Shell, the government ordered Thursday.
At least four leading US oil corporations are interested in investing in Argentina’s nationalized YPF but are demanding a law that guarantees investments, direct export of oil and remittance of benefits.
Argentina’s seized oil and gas corporation YPF drastically cut dividend payments and created an investment fund following the first shareholders meeting since the nationalization by President Cristina Fernandez.
Argentina’s nationalized oil and gas corporation YPF announced the incorporation to its staff of two “outstanding professionals” for its technology department, Bernard Gremillet and Gustavo Bianchi, which at some time belonged to the company but had left for personal reasons.
Brazilian bank Itaú Unibanco purchased a 3.6% stake in Argentina’s nationalized oil company YPF, an operation involving 157.8 million dollars.
The technical teams of Argentine nationalized hydrocarbon companies YPF and Russia’s Gazprom will begin to do joint work in the area, said Foreign Minister Héctor Timerman
Carlos Slim Domit, son of tycoon Carlos Slim who recently acquired 8.4% of the shares of YPF oil company, confirmed on Monday that their arrival “was not a share purchase but the exercise of a financial guarantee,” which they have been working on in the last four years.
Chile's state-owned oil and gas company ENAP, Empresa Nacional del Petroleo, recovered the Southern Argentine concession revoked in March by Chubut province, when the dispute over YPF, ENAP said in a statement Friday.