MercoPress. South Atlantic News Agency
YPF and Repsol are expected to sign a compensation deal next week
Spanish oil major Repsol said Friday that, as part of a preliminary compensation deal struck last year with the Argentine government for the seizure of its former unit, YPF, it will take a charge of 1.28 billion Euros (1.76 billion dollars) on its 2013 earnings. Read full article
Comments
Disclaimer & comment rulesGreat news for YPF, Repsol and Argentina - another boost for the Argentine Oil and Gas industry and my own investments in the sector . Bring it on Miguel!
Feb 22nd, 2014 - 08:45 am - Link - Report abuse 0Given Argentinas Junk status you would expect 5 billion dollars of Argentinian bonds to be valued at a lot less than face value. All the indicators point to imminent default.
Feb 22nd, 2014 - 10:08 am - Link - Report abuse 0Yes....such great news for Argentine oil exploration that they still send a jew to beg Saudi Arabia for oil for the winter.
Feb 22nd, 2014 - 01:41 pm - Link - Report abuse 0I’m a total ignorant in oil- energy matters, but instead of expropriating YPF/Repsol which cost any amount of time, headaches and 5 billion USD, wouldn’t it have being easier to give the concession and license of VM to the already existing public oil company ENARSA for that matter??
Feb 22nd, 2014 - 02:17 pm - Link - Report abuse 0Good news for Repsol. They can wash their hands of Argentina and move on.
Feb 22nd, 2014 - 04:16 pm - Link - Report abuse 0If you don't see huge amounts of investment coming in for exploration in the next 6-12mos you won't see any for a generation.
It will be interesting to watch.
Good news indeed - it will help them with their investments in Venezuela where they recently just announced a huge investment there and they will be back into Vaca Muerta........but hey if they took the investment advice of the gringos on this site they would all be in South Texas losing there ass
Feb 23rd, 2014 - 01:50 am - Link - Report abuse 0But instead they are in Saudi Arabia licking the king's ass.
Feb 23rd, 2014 - 11:40 am - Link - Report abuse 0Diego I've not heard of any wildcat wells striking oil in Argentina. Care to share how you're making a fortune in the oil business there?
Feb 23rd, 2014 - 12:04 pm - Link - Report abuse 0Btw you'll be long dead before repsol invests in Argentina again.
Argenzuelais dead and they know it. That is why Diego they are running around the oil world begging for oil before winter. This coming season will be known as the autumn of latin discontent....The Latin Fall.....or Autumn but I think fall sounds better.
Feb 23rd, 2014 - 12:50 pm - Link - Report abuse 0Cap, I hope so. The apathy in argentina is flabbergasting. Everyone seems resigned to accept corrupt govts and failing economies at this point.
Feb 23rd, 2014 - 12:59 pm - Link - Report abuse 0kicillof did some kind of disaster seizing ypf
Feb 23rd, 2014 - 01:05 pm - Link - Report abuse 0but now it seems galluccio is doing the right thing.
repsol will be the winner with all this mess, but now ypf is in another position to work in vaca muerta.
no doubts without this agreement, vaca muerta would be totally inviable
@10
Feb 24th, 2014 - 09:38 am - Link - Report abuse 0Salary negotiations will be the difficult thing. The pay rises being offered to teachers won't even cover inflaion for 3 months as it stands, then you've got the truckers union payrises and also the Union union which is the union that represents the truckers union and also their union in turn....not forgetting the money printers union who are bound to demand payrises for all the overtime they are having to do...
#12 don;t forget the police, how long do you suppose they will sit on the sidelines watching everyone else get these huge raises? The Gendarmerie are not going to be to thrilled with their 22% increase last year. In fact if you recall.....originally they cut their watches which cause them to stroke and protest and walk off the job.
Feb 24th, 2014 - 01:13 pm - Link - Report abuse 0I hear YPF had to give a U$1B sweetener to get the deal done.
Feb 25th, 2014 - 12:38 pm - Link - Report abuse 0This was a great deal for Repsol.
I wonder if there is any profitable oil/gas in VM?
rumor is there's might not be.
Let's see what happens in the next 6 months. If O/G exploration companies are not flooding into Arg the project is doomed for at least the next generation.
I won't be long now before its confirmed.
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