MercoPress. South Atlantic News Agency
Repsol says it has invested over 20 billion dollars since taking over YPF in 1999
Spain’s energy corporation Repsol describes as ‘false’ Argentine government allegations that its affiliate YPF “had not invested sufficiently” in its hydrocarbons interests in Argentina. Read full article
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Disclaimer & comment rules$20 billion and that was not enough. Hope you Geo Park share holders are taking a serious, serious, serious look at these figures.
Apr 25th, 2012 - 05:50 am - Link - Report abuse 0This story just keeps getting worse and worse.
Apr 25th, 2012 - 06:40 am - Link - Report abuse 0And this fundamentally blows out of the water any argument the Argentinian government has presented as to why they nationalised the company.
The level of shame for the Argentine government just keeps growing and growing.
Either they're not being fully honest (I know thats hard to believe for a multinational involved in politics!) or they were remarkably incompetent in disposing of the 20 billion
Apr 25th, 2012 - 09:10 am - Link - Report abuse 0@3. I take it your referring to the Argentinian Government, though I supect you mean Repsol. I must admit I'm finding it hard getting my head around the idea, that your actually blaming someone for investing $20 billion, I'll say it again, $20 billion! in your country. Lunacy is the word that comes to mind.
Apr 25th, 2012 - 10:52 am - Link - Report abuse 0£20 Billion was okay until a few weeks ago, and then Ms. Mercurial decided it wasn't enough because she thought the chinese were going to be calling the YPF shots.
Apr 25th, 2012 - 11:11 am - Link - Report abuse 0Not to mention all of the other oil companies invested vastly smaller amounts into resource development!
Apr 25th, 2012 - 11:46 am - Link - Report abuse 0**Waits for the ridiculous argument - but they are different because XY&Z**
$20 billion? Did that include the Kirchner “cut” or was that extra?
Apr 25th, 2012 - 04:23 pm - Link - Report abuse 01- If they invested 20bn from 1999 to 2011 that is 20/12=1.67bn year.
Apr 26th, 2012 - 09:06 am - Link - Report abuse 0This is far from average profits 1.1bn reported by Spanish.
So how they were paying dividends of 3bn year rate while investing 1.67bn, declaring 1.1bn profit and production dropped drastically?
2-Santader bank in UK reported 40% cut in profit while Anita Botin increased her bonus to 4m pounds?
I will read Ponzi Scheme again I guess I miss something here.
Beijing, April 24 (PRCNA) – Luigi Gatti, Argentine Special Representative Liaison to the People’s Republic of China, met and had a talk in a friendly atmosphere with Vice-President Li Wuwei, vice-chairman of the National Committee of the Chinese People's Political Committe.
Apr 26th, 2012 - 11:24 am - Link - Report abuse 0The head of the delegation offered warm congratulations to President Cristina Fernandez on her successful repatriation of YPF holdings back under rightful control of the Argentine people.
Noting that the Chinese people recollect with deep emotion the efforts made by leader Cristina Fernandez for the strengthening and development of Sino-Argentine friendship, he added that the bilateral friendship is developing as the days go by under the deep care of the supreme leaders of the two parties and the two countries. In the agreement announced, China acknowledges that the Malvinas rightfully belong to the Argentine people. The Argentinean minister present reiterated the strong fraternal alliance with China and mentioned that both the island of Formosa as well as the Tibetan regions rightfully is an undeniable part of the People’s Republic of China. He further mentioned that the Dali Llama was not welcome in Argentina and would not be granted a visa. The Chinese committee wished the Argentine people greater successes in the building of a thriving nation, united close behind the spirit of Justicialismo headed by President Fernandez. He expressed the will to join the Argentine and Chinese comrades together in making positive efforts to boost the friendly ties between two countries.
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