MercoPress. South Atlantic News Agency
YPF and Repsol reach an 'agreement in principle' with Mexican mediation
The dispute between the Argentine government and Repsol over the seizure of a 51% stake in petroleum company YPF has shown some signs of cooling, with the Ministry of Economy announcing on Monday that an “agreement in principle” for compensating the Spanish corporation had been reached. Read full article
Comments
Disclaimer & comment rules“compensation for the expropriation”
Nov 26th, 2013 - 09:52 am - Link - Report abuse 0So in other words, the Argentine government has now effectively bought back YPF.
Any bets on how long it will be before RGland breaks the 'agreement', assuming of course that the Repsol board accepts it?
Nov 26th, 2013 - 12:40 pm - Link - Report abuse 0U$ 5B in bonds? Repsol would be insane to take that deal. It is almost assured that Arg is going to default in 2014.
Nov 26th, 2013 - 01:34 pm - Link - Report abuse 0So, the Repsol CEO and the Repsol President preferred to not attend.
Nov 26th, 2013 - 01:46 pm - Link - Report abuse 0And the agreement in principle was to 'normalize and strengthen the historic links between the three countries'.
I can see why Repsol felt it was unnecessary to field their A Team - compensation by Argentina was not even on the agenda!
YPF is junk whats really valuable is under the ground
Nov 26th, 2013 - 02:02 pm - Link - Report abuse 0I think that TMBOA is hoping that her mismanagement of the situation will result in YPF being valued at 2s.6d on a take it or leave it offer.
Nov 26th, 2013 - 03:06 pm - Link - Report abuse 0@3 “U$ 5B in bonds”. Where's that bit? Or is it from elsewhere? I agree that it would be ridiculous for Repsol to accept that. Wasn't the expropriation valued at $10 billion? Then, given that, legally, the compensation should have been paid before the expropriation, there should be “interest”.
Nov 26th, 2013 - 03:20 pm - Link - Report abuse 0@ 7
Nov 26th, 2013 - 04:09 pm - Link - Report abuse 0Here:
http://abcnews.go.com/Business/wireStory/shares-spains-repsol-soar-news-ypf-deal-21013504
Repsol can wait until the gov't changes. All they have to do is impound some of the exported oil. Then Arg will be forced to settle. There is no reason for Repsol to take such a low offer a this time. They have the upper hand.
Nov 26th, 2013 - 05:11 pm - Link - Report abuse 0@ 9
Nov 26th, 2013 - 05:14 pm - Link - Report abuse 0You are presupposing that RGland is going to have any to sell do not forget that at the moment they are a net importer.
10. Most of their oil is refined out of the country so they export quite a lot but they are buying even more. Much much more every year as their old fields dry up.
Nov 26th, 2013 - 05:17 pm - Link - Report abuse 0@ 10
Nov 26th, 2013 - 06:08 pm - Link - Report abuse 0Valid point.
(4) GeoffWard2
Nov 26th, 2013 - 06:08 pm - Link - Report abuse 0You say...:
“ So, the Repsol CEO and the Repsol President preferred to not attend.
I can see why Repsol felt it was unnecessary to field their A Team - compensation by Argentina was not even on the agenda”
I say...:
Geoff... Geoff... Geoff...
I sometimes wonder if your sole source of information is MercoPress...
Antonio Brufau did not attend because he was asked to stay away by the Mexicans and the Banksters...
Anyhow...
That deal is as good as closed...
The Gallegos sign tomorrow...
PS...:
To my British counterparts...: Mr. Beef, our resident oil investment expert and Mr. DoveoverDover, my personal financial adviser ..........
YPF shares UP 8.7% today......
Are you guys buying...? ... ;-)
Wouldn't it be a nice stick in the eye if this does get settled with Repsol the holdouts end up seizing The Arg gov't owned shares!
Nov 26th, 2013 - 06:42 pm - Link - Report abuse 0I may pee myself laughing if that happens!
When YPF was expropriated, without any compensation, it was said by the government that Repsol had not fulfilled the conditions of consesion. The Argentine Government promised a court action in which the country would claim Repsol an economic compensation for the damage allegedly caused to the country's economy.
Nov 26th, 2013 - 07:44 pm - Link - Report abuse 0Now, they admit that it will be backwards, that Argentina, at the cost of greater poverty will have to compensate Repsol. Who will take responsibility for such stupidity?
On the other hand, it is clear that the Argentine government, although officially denied, have already began to raise all energetic rates to bring them closer to their international prices. That's the reason for the rise in the shares of YPF.
Always, listening CFK speeches is usefull because she always, inevitably, does the opposite of what he declares.
@ 13 Lunatic
Nov 26th, 2013 - 08:09 pm - Link - Report abuse 0You BUY shares when they are going up!
No wonder you are always bleating when the prices go down a few percent.
Now I know I have given you the correct tag name: Lunatic.
Oooooooooppps......
Nov 26th, 2013 - 08:18 pm - Link - Report abuse 0YPF shares now UP 11.00%
45 minutes to go!
Buy, Buy, Buy!
http://www.google.com/finance?cid=662043
yes...I'm buying right now....
Nov 26th, 2013 - 08:23 pm - Link - Report abuse 0Gooooooooood dog....
Nov 26th, 2013 - 08:28 pm - Link - Report abuse 0Oh, I spoke to quickly. It is an agreement between governments not with the actual company.
Nov 26th, 2013 - 08:58 pm - Link - Report abuse 0Gov't Peso is 6.09 and BCRA is spending U$100sMM/day to keep in down,
Nov 26th, 2013 - 09:32 pm - Link - Report abuse 0That can't last much longer
Let's see choice is fuel or low peso, fuel or low peso.
Let's just print more...
Now is the time ... the dreaded “adjustment”... the government denied “adjustment”...fasten your seat belts !!!!.. othewise at this pace we won't be able to reach year 2015 !!!!
Nov 27th, 2013 - 01:13 am - Link - Report abuse 0Peronists, CFK's worshipers ..it's now time to justify everything, it's time to praise the Stock Exchange and the financial big profits in one day... it's time to leave the proclaimed socialism .. it's time to GATHER DOLLARS!! ... to reach 2015.
Never take financial advice from the Brits on this forum - they don't understand economics or finance
Nov 27th, 2013 - 09:06 am - Link - Report abuse 0YPF share price more than doubled ! I made a fortune again by doing the exact opposite of what the Brits recommend to do - a great contraian strategy if ever I saw one - hahaha
Please we need some more investment advice!!! Hahaha. - then do the compete opposite and get rich!
@ 23 El Diego
Nov 27th, 2013 - 02:40 pm - Link - Report abuse 0Liar.
From a Brit who does understand finance. You bought at top price and sold at bottom - and you got rich? Ha, ha, ha.
the awful and sad truth:
Nov 27th, 2013 - 03:14 pm - Link - Report abuse 0http://www.cronista.com/economiapolitica/La-soberbia-cuesta-us-5.000-millones-y-la-vamos-a-pagar-todos-20131127-0084.html
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