MercoPress. South Atlantic News Agency
Repsol board backs compensation deal offered by Argentina for seized YPF
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
Comments
Disclaimer & comment rulesArgentine 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@ 1
Nov 28th, 2013 - 02:39 pm - Link - Report abuse 0As 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?
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(3) Welsh Wizard
Nov 28th, 2013 - 05:36 pm - Link - Report abuse 0You 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.....
They're spending what little free cash they have supporting the crashing Peso. That's gotta stop pretty soon though.
Nov 28th, 2013 - 06:18 pm - Link - Report abuse 0Inflation will be 3% this month
Will be see hyperinflation in 2014?
Probably.
@4 Stink
Nov 28th, 2013 - 06:34 pm - Link - Report abuse 0Exactly 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.
@6
Nov 28th, 2013 - 06:39 pm - Link - Report abuse 0Seems the big boys are not interested in investing in the offshore oilfields in Brazil either.
@ 7 golfcronie
Nov 28th, 2013 - 07:30 pm - Link - Report abuse 0But 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.
@6
Nov 28th, 2013 - 09:20 pm - Link - Report abuse 0Trust 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.
9. You do realize you don't have the technology or smarts to get the oil out of the ground right?
Nov 28th, 2013 - 10:33 pm - Link - Report abuse 0You'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.
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@10
Nov 28th, 2013 - 11:46 pm - Link - Report abuse 0Mendoza 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.
@11
Nov 29th, 2013 - 12:43 am - Link - Report abuse 0I 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
I “Think” Merco Press has missed this relevant Oil news........
Nov 29th, 2013 - 05:35 am - Link - Report abuse 0http://www.theguardian.com/uk-news/2013/nov/28/argentina-jail-threat-over-falklands-drilling
Don't thank me....
I particularly liked the $100m dollar fine.
Nov 29th, 2013 - 06:33 am - Link - Report abuse 0Good luck collecting that!
@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@ 16
Nov 29th, 2013 - 12:54 pm - Link - Report abuse 0Likely not 'closer' but perhaps more aware of RGland's failure to honour debts and agreements?
(16) Welsh Wizard
Nov 29th, 2013 - 06:34 pm - Link - Report abuse 0Obviously, I am closer to this situation than you are....
(assuming you are in Cymru ;-)
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