MercoPress. South Atlantic News Agency
EC and Italy call on Argentina to fulfil its international commitments
European Commission Vice President Antonio Tajani addressed Argentina's plan to expropriate 51% of the 57.43% share-package Spanish ran Oil Company Repsol owns, during a speech at the European Parliament on Wednesday. From Rome Italy also voiced its concern with events regarding YPF and trade restrictions. Read full article
Comments
Disclaimer & comment rulesHa ha ha,
Apr 18th, 2012 - 11:18 pm - Link - Report abuse 0She says,
The world tells me to do this, and do that,
And I say, up yours,
I can do anything I want, when I want and to whom I want,
And until these fools get of there arses and put me in my place, I shit on them,
[Says CFK]
We say,
Soon lady ?? soon mmmm
.
Thats the unelected banker Mario Monti lecturing the elected-by-54% Cristina; I know who I trust to be democratic about this...
Apr 18th, 2012 - 11:40 pm - Link - Report abuse 0@2 neither.
Apr 19th, 2012 - 12:11 am - Link - Report abuse 0This is not to be taken lightly. The EU is always very prudent about publicly blasting a country like they have just done with Argentina.
Apr 19th, 2012 - 12:44 am - Link - Report abuse 0Whilst I do believe that every nation on earth has the sovereignt right to control its natural resources, there are ways to nationalize an oil company, and the way Argentina is doing it it´s probably the worst because they are picking a fight with the international investor community, Spain and the European Union. Argentina´s nationalisation is now part of a series of nationalisations in South America, in Bolivia and Venezuela, is part of a wave of hostility towards foreign investors who are now looking at the region as a high-risk investment.
Argentina should sit down with Repsol and pay their stock accordingly, and not do the same they did with their creditors a decade ago.
I am saddened by the fact that Argentina has lost the respect and reputation as a serious, law abiding, modern and civilized nation, with these actions, Argentina is now on par with the likes of Venezuela, Ecuador, Nicaragua, nations with irresponsible populists who command no respect, neither with the international community, nor within their own countries.
Pay your taxes to Germany, Italy. This pig country is bloody funny.
Apr 19th, 2012 - 01:49 am - Link - Report abuse 0It is amazing how many countries around the world are living thanx to the oil of Argentina. Europe is hungry, again and needs fresh blood.
@ 4 Don't worry for Argentina. I hope Spain and the EC find another way to survive without our oil, invading a new country. China perhaps?
Briton,
Apr 19th, 2012 - 03:39 am - Link - Report abuse 0I am trying to the word that matches with your name. In the meanwhile let me tell you that you could take a break and update your knowledge. For example,
Between 1998 y 2011, the oil production there was a significante reduction in about 15,9 millones m3.( Yes I am talking about OIL). 8,6 manipulated by Repsol YPF.
In other words, 54 percent oil and 97 percent in natural gas. This manipulation allowed REPSOL to increase a domestic demand which facilitate a price increase to Argentinian consumers. Consequently, domestics prices paired with international ones. Respsol YPF profited 13.730 millions dollars.
Do you have any idea how this manipulation damaged your loved Argentina?
The result of such approach forced Argentina to import 9,397 millions of dollars
( We do not have colonies like UK, therefore we cannot steal legally speaking).
Since we own natural resources, why the country has to end with a negative for 3,029 millions and allow a foreign or transnational company to make profit from such approach? Stop thinking as a servant and think as an individual without anger for a second. You may enjoy the change.
I am new to this forum but have been following the Merco news since I traveled to Argentina in 2010. I saw an enormous, fresh country with unlimited potential. The cities are vibrant, the countryside verdant and efficient and productive, with just the right amount of wilderness for generations to come. The people I met were without exception intelligent and thoughtful. And so it distresses me to see what this government is bringing upon itself. Why do they alienate the rest of the world by being obstinate about nearly everything, especially honoring their debts? It seems they are always trying to pull a fast one. Seems a shame, given their potential. And I am not comparing any of this to the US. I just genuinely want to know people's opinion on this matter.
Apr 19th, 2012 - 04:15 am - Link - Report abuse 04 JoseAngeldeMonterrey
Apr 19th, 2012 - 04:18 am - Link - Report abuse 0”Lazaro Cardenas (1934-1940) is the man responsible for securing Mexico's vast oil profits for its citizens. His act of nationalizing the nation's oil fields remains in place today.
In 1938, President Cardenas expropriated all the nation's oil production from foreign entities, namely the United Kingdom, the Netherlands and the United States”
@2: approximately 40 million people in Argentina, approximately 10million votes for Fernandez, that's 25% support, not 54%. She might have that percent of the vote but not that percent of support.
Apr 19th, 2012 - 04:46 am - Link - Report abuse 0“Argentina's critics are wrong again about renationalising oil”
Apr 19th, 2012 - 04:56 am - Link - Report abuse 0“In taking back oil and gas company YPF, Argentina's state is reversing past mistakes. Europe is in no position to be outraged”
“Mexico nationalised its oil in 1938, and, like a number of Opec countries, doesn't even allow foreign investment in oil”
“Most of the world's oil and gas producers, from Saudi Arabia to Norway, have state-owned companies. The privatisations of oil and gas in the 1990s were an aberration; neoliberalism gone wild. Even when Brazil privatised $100bn of state enterprises in the 1990s, the government kept majority control over energy corporation Petrobras”
http://www.guardian.co.uk/commentisfree/cifamerica/2012/apr/18/argentina-critics-oil-nationalise?commentpage=5#start-of-comments
Oil Production in Mexico has fallen consistently, year on year, since 2003, it's difficult to search oil production in google without also seeing the words “mismanagement” or “mishandling”. I fail to see your point.
Apr 19th, 2012 - 05:10 am - Link - Report abuse 0*yawn*
Apr 19th, 2012 - 06:59 am - Link - Report abuse 0What the Argtards don't tell you is that Repsol was acting within its contract, as will be shown by the ICSID in a future ruling. Plus there isn't a hope in hell of this company being managed well by Argtards or La Campora who have succesfully ruined every company that they've got their nazi little hands on.
Argtards have spent all their savings so, regardless of the oil they need as a nation, they'll still be buying it in for decades and decades with no investment in the concessions.
@12 GreekYoghurt,
Apr 19th, 2012 - 08:24 am - Link - Report abuse 0So, another Argentine success story?
lmagine the kickbacks, payoffs & suitcases of money under the table, if they ever got their thieving hands on our oil!
Thats AFTER the mismanagement of course.
The European patch --coward Italians pontify how about the movings they well know on similar machinatings........
Apr 19th, 2012 - 08:51 am - Link - Report abuse 0Laughter...........Laughter............ITEBO
@13 You raise a very good point, if they ever got their hands on Flaklands oil, it would be utterly mismanaged in a way that we shall all see of YPF in the coming years (imagine a bigger version of Aerolingas Argtardia with even more missing money).
Apr 19th, 2012 - 09:03 am - Link - Report abuse 0Can't most Argtards just get some more fake papers like their parents did from the catholic church and pretend they're croatian or swiss again, like they did in 1940s after they lost WW2?
@8 Continuing your wonder story for Lazaro Cardenas “However, with the outbreak of World War II, oil became a highly sought-after commodity. Mexico began to export oil to Nazi Germany and Fascist Italy.” Thereby helping to prolong the war and kill tens of thousands of people. Also “Although Mexico was eventually able to restart the oilfields and refineries, production did not rise to pre-takover levels until after the entry of the United States into World War II, when technical advisers were sent by the United States as part of the over-all Allied war effort.” So Mexico would have actually got nowhere with its nationalisation but for assistance from the U.S. I wonder why you didn't put those parts in? Could it be this bit? “In 1955 Lázaro Cárdenas was awarded the Stalin Peace Prize,” “The prize was mainly awarded to prominent Communists and supporters of the Soviet Union who were not Soviet citizens.”
Apr 19th, 2012 - 10:54 am - Link - Report abuse 0The oxymoronic Stalin Peace Prize... does this have the same massively-political element as the Knobel Not-Peace Prize selection criteria?
Apr 19th, 2012 - 11:26 am - Link - Report abuse 010 Marcos Alejandro
Apr 19th, 2012 - 12:04 pm - Link - Report abuse 0Oh I have no doubt that “Argentina's state is reversing past mistakes” by making a load of brand new ones!!
This doesn't solve anything you do know that don't you?
I'm not outraged, I just feel sorry for you and your country, everyone cheering while KFC takes a giant s**t on all of you........
the headline here talks about “commitments”.
Apr 19th, 2012 - 02:31 pm - Link - Report abuse 0I think it is very very clear the commitments that the Argentine Government has in favour of expanding production, in favor of controlling corporations and regulating financial speculation to avoid new crisis.
A lot of European government go on choosing solving the crisis taking more and more debt and freezing their economies, of course they are not gonna solve anything doing as the IMF says... That is their commitment?
Wheren't them in favor of “helping” Latinamerican countries develop their economies and societies...¿?
Solving energetic problems and changing the way energy is produced and supplied in Argentina is part of that process, but it seems many do not like that.
Mario Monti represents the most disgusting and anti-democratical side of italian politics, he is related to Goldman Sachs (a company that owns part of the debts that european states took) part of the club that took Europe to crisis, how is he gonna help italian society if he was chosen as the man in charge of applying the austerity plans dictated from the European Central Bank? He is just the man who collects the rent...
Appart from this... Mercopress never mentioned that this week the Italian Congress became the first european parliament supporting the idea that the problem between Argentina and the UK over Malvinas needs negotiation and the UK HAS TO sit down and negotiate.
(“if there is support to Argentina let's hide it” is Mercopress purpose, always...)
@19 The theft of a company is not moral. It's just simple theft.
Apr 19th, 2012 - 03:20 pm - Link - Report abuse 0@20 The Italians are entitled to their opinions, just like they're entitled to voting Il Cavaliere into power for goodness knows how many terms. Just like their entitled to have a near broken economy and Just like they're entitled to assist in getting Nazis out of post-war Italy and Germany to Argentina, through their state sanctioned church.
(http://english.telam.com.ar/index.php?option=com_content&view=article&id=14847:timerman-made-a-presentation-on-malvinas-at-italys-lower-house&catid=42:politics) Very important players in Italian politics was part of this Committee, such as Massimo D’Alema (PD), Pierluigi Bersani (PD), Angelino Alfano (PDL), Walter Veltroni (PD) and former Foreign Minister Franco Frattini (PDL), among others.
If the people of Telam cannot even learn basic English, and if the people of Italy cannot make up their mind about who their friends are, then why would we care about their not-news?
@10 Most people live with the mistakes they make and learn from them. I'm of the opinion that your doomed to repeat them, again and again and again and again.
Apr 19th, 2012 - 03:36 pm - Link - Report abuse 0| 7 |
Apr 19th, 2012 - 05:49 pm - Link - Report abuse 0First tell us which state are you from in US...?
If any other European companies are nationalised, I believe there are many across Europe that would support the freezing of all Argentinian assets inside the EU.
Apr 19th, 2012 - 07:24 pm - Link - Report abuse 0Conqueror 16,
Apr 19th, 2012 - 07:52 pm - Link - Report abuse 0The piece of history about Mexico in need of technical help from the US after the nationalisation only goes to show that Mexico did the right thing nationalising the oil industry because obviously the foreign oil companies were coming to extract the oil only without traspassing any technology, without benefiting the country beyond the simple transaction of paying their extraction licenses.
It is not true however that Mexic0´s oil industry never achieved pre-nationalisation levels, quite the opposite, PEMEX and the newly created oil research institute went on to discover many new oil fields, both inland and in the sea, and they continue finding more today.
PEMEX has contributed billions of dollars to Mexico´s public and free educational system, to our public health system, to our free or almost free public univesities, without PEMEX Mexico would not have even dream of creating such public institutions many decades ago when the country had no other industry at all. Now Mexico has developed many industries and exports all kinds of products but PEMEX is still a important state company because of the revenues it brings to the country.
The problem with Repsol and YPF in Argentina cannot be only blamed on the Argentinian government, there is a reason why things got so bad for Repsol in Argentina. Repsol boasts its “españolidad” always, all the time, they waste no opportunity telling everyone that they are spaniards, contrary to many global corporations today that see themselves as global entities and have left behind them the old nationalism, if Repsol wants to be a true global company then they need to open themselves to world just the same way they want Argentina and other countries to open to their businesses.
I am sure that if Repsol´s CEO had been an Argentinian, the nationalisation would have avoided.
6 you are not first
Apr 19th, 2012 - 07:57 pm - Link - Report abuse 0Interesting totally confusion,
Allow me to enlighten you
.[][ I am trying to the word that matches with your name[][
Try genius great fantastic brilliant, or just plain Briton, with an opinion,, ,,,will do .
[Between 1998 y 2011, the oil production there was a significant reduction in about 15,9 millones m3.( Yes I am talking about OIL). 8,6 manipulated by Repsol YPF. ]
[and this has what to do with italy and the EU telling them to fulfil its international commitments//////////////
[][[Do you have any idea how this manipulation damaged your loved Argentina?]]
I don’t have a beloved Argentina, I am British .
,
[The result of such approach forced Argentina to import 9,397 millions of dollars
[and what has this to do with me .
( We do not have colonies like UK, therefore we cannot steal legally speaking).
[neither do we,, but if you wish to get technical//if Argentina gets the Falklands,
Then you WOULD have a colony, would you not.
Since we own natural resources, why the country has to end with a negative for 3,029 millions
[that’s your leaders fault, no one elses, am I correct ….
[and allow a foreign or transactional company to make profit from such approach
/are you then saying that no foreign company should make a profit in Argentina,
Thus no Argentinean company , then should make a profit in any other country ???
//? Stop thinking as a servant and think as an individual without anger for a second.//
I am free/ not a servant, never angry,, its just an opinion,/opinion/opinion
.
@23 Ben. I think you could pretty well take that for granted.
Apr 19th, 2012 - 08:01 pm - Link - Report abuse 0Commenting for this story is now closed.
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