MercoPress. South Atlantic News Agency
YPF shares plummet on growing investors’ fear of Argentine government takeover
Shares in Argentina's biggest energy company, YPF plummeted on Tuesday because of growing investor fear over a possible government plan to seize control of the oil firm. Read full article
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Disclaimer & comment rulesAbandon ship!!!!! The pirates are coming.......
Apr 04th, 2012 - 01:56 am - Link - Report abuse 0This has been a long time coming...
Apr 04th, 2012 - 02:01 am - Link - Report abuse 0with any luck this could be the catalyst for a mass business exodus, after all who wants to invest in a business enviroment that is as stable as an unexploded bomb in a tub of dogshit
Apr 04th, 2012 - 02:06 am - Link - Report abuse 0It's not the matter wheter YPF is off private or public property. It has to be divided in at least 3 parts and those parts run separately. YPF should be divided in North(Salta, La Rioja, Formosa, Chaco, Catamarca, Jujuy, Santiago del Estero, San Juan, Cordoba, Corrientes, Misiones, Entre Rios, Santa Fe), Center(Buenos Aires, CABA) and South(the rest). That way it would work better. If after it's divided the new companies want to expand then they are free to do so. It will promote competition.
Apr 04th, 2012 - 02:54 am - Link - Report abuse 0@PirateLove: not stable??? it is not our economy the one in recession...
Apr 04th, 2012 - 04:44 am - Link - Report abuse 0The fact that companies leave the country does not mean that it is bad for the people living in it.
Marsans for example sold the Argentine Airlines to the government and today the service is more efficient, there are new air destinies and the competition increased in the Argentinian market of aerocomercial flights. Marsans is a spanish corporation that was found guilty in a lot of trials in spain for corruption of public founds... so... who wants those criminals in here??
Sometimes it is better if they leave...
It is quite clear to me. Force the share price in the stock market down - down - down, then take over the company at the low share price market value, buying the company with Argentina bonds; we all know what these bonds would be worth.
Apr 04th, 2012 - 05:34 am - Link - Report abuse 0I'd agree with post 5 Fermin.
Apr 04th, 2012 - 06:57 am - Link - Report abuse 0Your economy isn't in recession, it's clearly in meltdown.
Hence all of the efforts to stop money leaving the country and to ensure there is a trade surplus in every industry.
If you drive companies out of Argentina then you simply will not have any investment and no investment in a failing economy simply will accelerate its progress.
Perversely the actions above are the ones that are clearly destroying your country.
RUN!!! Run to the hills!!!
Apr 04th, 2012 - 07:06 am - Link - Report abuse 0Nowhere is safe from the corrupt, money grabbing government. So get out while you can!!!
@7 I was about to say, I had to reread Fermin's post a few times, as I couldn't believe what was being typed. The massive amount of inflation and contorted statistical results coming out of INDEC hardly make them a great example of how to run a country.
Apr 04th, 2012 - 07:10 am - Link - Report abuse 0Argentina's economy is increasingly isolated from its customers and increasingly furked. It's that simple.
@5 & 7 Define protectionism and its consequences from its trading partners? and how that affects freedom of trade for businesses in Argentina? and why Argentina needs to put that tactic into operation in the first place? and why so many countries felt the need to complain to the WTO over lack of transparency by the Argentines governments interference of companies based in Argentina? lastly, the reason IMF closed their offices in Beunos Airies?
Apr 04th, 2012 - 10:33 am - Link - Report abuse 0@5 Are you talking about Aerolineas? Where you, the tax payer, is subsidising the failing business in the amount of $2m per day? Where there are endless strikes and inefficiency? Where they have more pilots than LAN (LAN is a profitable and successful Chilean business) and the pilots at Aerolineas fly on average 20 hours per month? (At most other airlines pilots fly between 60 and 80 hours per month). And the airline given $2.1 billion to buy new planes and the money has disappeared? Surely you must be speaking of another airline.
Apr 04th, 2012 - 10:36 am - Link - Report abuse 0How many weeks to total meltdown in Argentina? At this rate Argentina will be begging to become part of the Falklands :)
Apr 04th, 2012 - 11:09 am - Link - Report abuse 0Message for Repsol: Start dismantling all the equipment you paid for with proper money and shipping it out of the country. Replace all possible components with old stuff that will come apart in 3 months. Once you've got everything you can (heavylift cargo aircraft may be the best option), make a legal claim on the argie government (joke!) for the value of the company. Don't forget to clear all offices of plans, schematics, technical specifications and so forth. Then run!
Apr 04th, 2012 - 11:55 am - Link - Report abuse 0#13 Advice from someone who daily fantasizes about bombing Argentina. Sad thing is these sharks might do just that. My advice on the other hand is to sell to the state now, before their shares get even lower =) L-U-V Cristina!
Apr 04th, 2012 - 12:33 pm - Link - Report abuse 0I'm relatively sure meltdown has already begun. Following their heady 'Celebration of Anschluß' that we all had to watch yesterday I'm pretty sure people are getting the point that their ideology is pretty furking poisonous.
Apr 04th, 2012 - 01:59 pm - Link - Report abuse 0Well that's the impression I'm getting. A nights stay in a Maximo Hotel anyone?
@14 You don't want us to bomb argieland? Fire hundreds of cruise missiles at it? Practice with those Trident D5 missiles we spend so much money on? Then tell your scummy chums to back off. Send your scrofulous argie queer “Queen” a message. “F--k off, slag.” would be a good start. Best get yourself off to the cesspit before it ceases, one way or another, to exist.
Apr 04th, 2012 - 02:14 pm - Link - Report abuse 013. The capital equipment is already in pretty bad shape, the o/g field DISCOVERED in the 90s under Menem are pretty much depleted and there has been little to no exploration for the last decade. The equipment is not really valuable it is interpretation of the seismic data and the mapping and that's probably already in Spain.
Apr 04th, 2012 - 03:38 pm - Link - Report abuse 0Which means the RGs have to start fresh with sub-par employees since all of the good ones will leave once the nationalization happens.
Since it takes 30 yrs to deplete a field (if you are doing it right) and 10yrs to find and develop new ones they are going to have 10-15yrs where they are going to have to import 80-100% of their o/g needs. I hope they all can ride horses and bikes to work. hahahaha
@17 Hahahahahahaha. *breath* Hahahahahahahahahah *breath* hahahahahahah
Apr 04th, 2012 - 04:41 pm - Link - Report abuse 0Provincial real estate taxes are going up avg 600% this YEAR!!
Apr 04th, 2012 - 06:17 pm - Link - Report abuse 0YIKES!
@17, 19 Oh, goody! Perhaps CFK, her brood and her sycophants could give some money BACK! After all, the people come first!
Apr 04th, 2012 - 07:04 pm - Link - Report abuse 0@19,20 Does these taxes include a fat person building a bevvy of new hotels from money that their mother gave them to do something else with? Does he also have to pay these taxes?
Apr 04th, 2012 - 08:29 pm - Link - Report abuse 0As an old oil terminal engineer the antics of CFK and FatBoy just amaze me with their simplistic views of just how difficult it is to run an oil production installation properly and safely.
Apr 05th, 2012 - 02:53 pm - Link - Report abuse 0I am waiting for FatBoy to announce the chief queer of Le Camping, presently on the board of YPF, will be the new CEO. That will just about finish the company just like he screwed the airline with his PhD in Economics. Ha, ha, ha.
Oh, you really, really, could not make this fiasco up.
It will be interesting if Argentina follow up with the state take-over of 'Petrobras Argentina'.
Apr 05th, 2012 - 07:34 pm - Link - Report abuse 0This is just the sort of trigger that Brasil needs to pull the plug on her southern neighbour.
23 GeoffWard2
Apr 05th, 2012 - 09:37 pm - Link - Report abuse 0Yes, it crossed my mind also. But can you really seeing CFK being so stupid as to try that on?
Oh, oh. Just spotted a flaw in that last sentance! :o)
#24 My Queen is certainly not stupid. She is, however, bold and radical =)
Apr 06th, 2012 - 09:41 am - Link - Report abuse 0CFK is flailing, picking fights she can't win and backing down just as quickly. She is losing it right along with the economy. Once the economy goes she loses her ability to buy support. I hope you are prepared for a long recession possible depression and I mean long it may take a generation to fix the mess the Ks have given you.
Apr 06th, 2012 - 12:47 pm - Link - Report abuse 0I have an answer for the question posted in this article. Agrarian reform and royalty tax exemptions to state controlled firms. Here is how.
Apr 06th, 2012 - 03:54 pm - Link - Report abuse 0”At the start of the 21st century, Venezuela was the world's fifth largest exporter of crude oil, with oil accounting for 85.3% of the country's exports, therefore dominating the country's economy.[170][171] Previous administrations had sought to privatise this industry, with U.S. corporations having a significant level of control, but the Chávez administration wished to curb this foreign control over the country's natural resources by nationalising much of it under the state-run oil company, Petróleos de Venezuela S.A. (PdVSA). In 2001, the government introduced a new Hydrocarbons Law through which they sought to gain greater state control over the oil industry: they did this by raising royalty taxes on the oil companies and also by introducing the formation of “mixed companies”, whereby the PdVSA could have joint control with private companies over industry. By 2006, all of the 32 operating agreements signed with private corporations during the 1990s had been converted from being primarily or solely corporate-run to being at least 51% controlled by PdVSA.[170]”
Www.gregpalast.com.en.wikipedia.org/wiki/Hugo_Chávez
#26 If the next government undoes the Ks' reforms, and instead accepts the “orthodox” approach of Cameron and co, then yes a long recession is likely. Thankfully any such government, or any change of government, is less likely. God save my Queen, long may she reign =)
Apr 06th, 2012 - 06:11 pm - Link - Report abuse 0#27 Very good, and I think thats the direction things are heading in =)
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