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Montevideo, October 4th 2023 - 06:31 UTC



Repsol board backs compensation deal offered by Argentina for seized YPF

Thursday, November 28th 2013 - 11:02 UTC
Full article 18 comments

Spanish oil group Repsol's board Wednesday backed a draft multi-billion-dollar compensation deal over Argentina's 2012 seizure of the company's YPF subsidiary. The deal seeks to repair the financial hit taken by Repsol when Argentina's President Cristina Fernandez in April 2012 ordered the seizure of Repsol's 51-percent stake in YPF. Read full article


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  • golfcronie

    Argentine Government Bonds ( CFK got out of that nicely) talk about kicking the can down the road. Likely they will renegrade on the bonds.

    Nov 28th, 2013 - 11:56 am - Link - Report abuse 0
  • Biguggy

    @ 1
    As you say ”Argentine Government Bonds', almost worthless now and likely worth even less in the future.
    I called that one wrongly. I wonder if there is 'something' that we are not being told?

    Nov 28th, 2013 - 02:39 pm - Link - Report abuse 0
  • Welsh Wizard

    Good ont hem, they realise that they need to get money. However, be aware that this is an agreement to try and broker a deal. Reposl will want cash (lots of it) up front. Can they offer this...

    Nov 28th, 2013 - 03:23 pm - Link - Report abuse 0
  • Think

    (3) Welsh Wizard

    You say...:
    ”Reposl will want cash (lots of it) up front.Can they offer this...”

    I say....
    What Repsol wants and what Repsol is going to get are to different things....
    And they are certainly NOT getting any cash.....

    Nov 28th, 2013 - 05:36 pm - Link - Report abuse 0
  • yankeeboy

    They're spending what little free cash they have supporting the crashing Peso. That's gotta stop pretty soon though.
    Inflation will be 3% this month
    Will be see hyperinflation in 2014?

    Nov 28th, 2013 - 06:18 pm - Link - Report abuse 0
  • Pugol-H

    @4 Stink
    Exactly why no other big oil company, apart from “over an Ecuadorian barrel” Chevron, is going to invest in Argentina, however big the deposits are.

    They’d rather do business in Iraq, which says it all.

    Nov 28th, 2013 - 06:34 pm - Link - Report abuse 0
  • golfcronie

    Seems the big boys are not interested in investing in the offshore oilfields in Brazil either.

    Nov 28th, 2013 - 06:39 pm - Link - Report abuse 0
  • ChrisR

    @ 7 golfcronie

    But can you blame them? Petrobras is a good company run by an excellent CEO but it is hamstrung by the Brazilian government seemingly wanting its cake and eat it.

    They are stalling about raising the price of fuel as we write, well it is a Presidential Election soon so we must not upset the rioters again, must we?

    So what is in it for the big boys: invest and be screwed, unless it’s by a gorgeous blonde there isn’t much going for it.

    And never overlook the knee-jerk financial reaction to “oil spills” unless it’s a Petrobras spill, then it’s different.

    Such a pity, another potentially excellent country run by a bunch of crooks and ex-Marxists. If there is such a thing as an EX-Marxist.

    Nov 28th, 2013 - 07:30 pm - Link - Report abuse 0
  • The Truth PaTroll


    Trust me, you are doing us the favor by staying far away from us.

    This is a backstab to all of us Argentines that favor an intransigent, bloody, immutable Non-compromise with the foreigners. My backing of this goverment for being an argentine government against the foreigners will take a blow due to this.

    Of course given the choice between an argentine and a foreigner I will always choose the former, but in the case of this goverment I know do it out of duty and not patriotism.

    Nov 28th, 2013 - 09:20 pm - Link - Report abuse 0
  • yankeeboy

    9. You do realize you don't have the technology or smarts to get the oil out of the ground right?
    You've turned into a stupid whiny girl.
    What happened?
    You've got to find a rich foreign man to get you out of that horrible place before you end up in an asylum.

    Nov 28th, 2013 - 10:33 pm - Link - Report abuse 0
  • El Diego

    Don't worry the stupid Spaniards are going to get suckered with this one - we will stuff them in true Argentinian style once again. The main thing is we keep them quiet for a while and sign a few more deals with some international oil companies and then we can turn the tables on them again and make a bit more money. I love it - easy money

    Nov 28th, 2013 - 11:25 pm - Link - Report abuse 0
  • The Truth PaTroll


    Mendoza does not need the oil or the minerals out right now. We have many other things going on (which btw are sempiternal, that is, since your English is not as advanced as mine, “ever renewable”: wine, tourism, agro-industry, hydroelectric industries).

    Oil and minerals are just icing on our cake.

    And no, I'm not a female, so sorry. I didn't know you were that desperate. I understand American girls don't give you the time of day, but that being the case, Argentine girls would likely just spit on you.

    Though I'm sure they already did. Source of your bitterness towards us no doubt.

    Nov 28th, 2013 - 11:46 pm - Link - Report abuse 0
  • golfcronie

    I agree with you entirely, Argentines are not trustworthy, you yourself said that. Just proves our point. Thats why your country has not the respect of the world at large

    Nov 29th, 2013 - 12:43 am - Link - Report abuse 0
  • Think

    I “Think” Merco Press has missed this relevant Oil news........

    Don't thank me....

    Nov 29th, 2013 - 05:35 am - Link - Report abuse 0
  • reality check

    I particularly liked the $100m dollar fine.

    Good luck collecting that!

    Nov 29th, 2013 - 06:33 am - Link - Report abuse 0
  • Welsh Wizard

    @4 that is strnage Think. They have already been offered $1.5bn in cash...obviously you are closer to this situation than I am.

    Nov 29th, 2013 - 09:48 am - Link - Report abuse 0
  • Biguggy

    @ 16
    Likely not 'closer' but perhaps more aware of RGland's failure to honour debts and agreements?

    Nov 29th, 2013 - 12:54 pm - Link - Report abuse 0
  • Think

    (16) Welsh Wizard

    Obviously, I am closer to this situation than you are....
    (assuming you are in Cymru ;-)

    Nov 29th, 2013 - 06:34 pm - Link - Report abuse 0

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