MercoPress. South Atlantic News Agency
Repsol’s only purpose was “to milk dry” YPF of resources and reserves
Argentine President Cristina Fernandez made the historic decision to nationalize oil and gas company YPF at “the right moment” because Repsol was “milking dry” YPF resources and reserves, said Planning Minister Julio De Vido and Deputy Economy minister Axel Kicillof at a press conference at the Economy ministry in Buenos Aires. Read full article
Comments
Disclaimer & comment rulesA company's job is to earn profits for it's shareholders, not act as a benefactor to prop up a nations government and policies.
Jun 02nd, 2012 - 04:49 am - Link - Report abuse 0The Argentine government doesn't seem to understand that.
They have squeezed YPF from every direction and then seem surprised that the management have responded with policies to maintain profitability.
The 'cash cow' will soon be staggering around with BSE under it's new management. Mad cow disease is contagious.
I would not trust these two numbnuts to walk my dogs, nevermind have ANYTHING to do with running a company and a country, even Argentina.
Jun 02nd, 2012 - 12:14 pm - Link - Report abuse 0'Repsol was “milking dry” YPF resources and reserves, said Planning Minister Julio De Vido and Deputy Economy minister Axel Kicillof ...'
Jun 02nd, 2012 - 01:12 pm - Link - Report abuse 0...when that's the job of the Argentine government
You couldn't make this stuff up
Jun 02nd, 2012 - 03:37 pm - Link - Report abuse 0You have to sell all these shares to our friends
They can't afford it really so we will make you pay out all the profits so they have enough dividends to pay the interest
You aren't investing enough in Argentina, even though its us making you pay out all that money in dividends, we are going to take your investment off you.
You are not allowed to have any dollars
But by the way I have $3m tucked away
Oh and those hotels we bought with the money Maximo had for buying new planes for plummet airlines - we only accept dollars there
Very good presentation by these two, I hope young Kicillof goes far, perhaps all theway to the top. I see the trolls can't find anything concretely wrong with what they say so just resort to personal attacks to shoot the messenger
Jun 02nd, 2012 - 03:47 pm - Link - Report abuse 0Blind_Scottie_Kirchnerist
Jun 02nd, 2012 - 04:10 pm - Link - Report abuse 0You really are delusional. Do you not know who Axel Kicillof is: he is the numbnut who presided over the 'new budget' for saving Aerolineas Argentina and with his fat friend Maximo managed to crash the company and had to leave under a cloud.
His own personal business failed due to mismanagement so The Mad Bitch of Argentina made him a Deputy Minister!
You could not make this crap up if you were writing a manual on 'How to kill a business'.
@5 You're just funny. And deluded. So Kicillof said what CFK told him to say. So what? I see the Petersen Group has lost their “holding” to Repsol because they could not keep up their debt payments. A well-known argie problem. I also see the argie “government” has also broken its own laws by taking a company without paying for it. Then the oil “production” increase seems to have dropped from that announced within days of the seizure. The argie “government”, these two tossers and you all have something in common. You're all a joke!
Jun 02nd, 2012 - 04:18 pm - Link - Report abuse 0That headline got my attention! reminds me of when I was much younger when I could actually do that.
Jun 02nd, 2012 - 07:41 pm - Link - Report abuse 0I hear you. what a nice thought!
Jun 02nd, 2012 - 09:07 pm - Link - Report abuse 0When you hear statements like those coming from these two persons, just rember the source of the statements and react accordingly. - Ignore all.
Jun 02nd, 2012 - 09:19 pm - Link - Report abuse 0On your face repsol, shame on you! BP destruction of the fishing industry tought all of us a lesson including a few fears and fovias with European helpijg hand.
Jun 03rd, 2012 - 03:20 pm - Link - Report abuse 0The nationalisation of YPF which followed state takeover of an airline and of pension funds shows that unlike other South American countries, who's leaders have a more global view of their future, Argentina has a govenment that is ultimately self-destructive.
Jun 03rd, 2012 - 06:16 pm - Link - Report abuse 0We support Argentina's policies and expect repsol to pay for the destruction of the environment and we expect Argentina to charge repsol for every penny needed to fix the ecosystems disrupted by their activity, and everyone here who is not an Argentine can go to their lawyer and file a complaint at the Argentine courts, good luck we don't expect you to get any corrupt results anytime soon.
Jun 04th, 2012 - 12:36 am - Link - Report abuse 0Pratt-Junta - your'e back!
Jun 04th, 2012 - 12:05 pm - Link - Report abuse 0Canadians chucked you out have they?
Or are you just back to get the regular fix of acting the clown for us Brits?
Keep taking the tablets. :o)
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