Energy & Oil

• Thursday, April 19th 2012 - 20:11 UTC

  France’s Total agrees to further increase natural gas production in Argentina

  

  Argentina's government said on Thursday that it had agreed with France's Total to work together to boost natural gas output by 2 million cubic metres per day at two Patagonian fields where YPF – which is being nationalized – also has a stake.

• Thursday, April 19th 2012 - 19:38 UTC

  World Bank and France criticize Argentina’s “mistake” and international law breach

  

  Argentina's move to nationalize local oil company YPF, controlled by Spain's Repsol, was strongly criticized by the World Bank president Robert Zoellick and French Foreign Minister Alain Juppé.

• Thursday, April 19th 2012 - 06:04 UTC

  You build history the way you can, not the way you want, said CFK of YPF takeover

  

  “You build history the way you can, not the way you want”, said Argentine president Cristina Fernandez during an official ceremony in which she referred to the “recovery” of the country’s main oil and gas corporation YPF, in the midst of the dispute with Spain’s Repsol.

• Thursday, April 19th 2012 - 05:53 UTC

  Senate leader announces Argentina will also seize YPF natural-gas branch

  

  Argentina will seize natural-gas producer YPF Gas SA as part of plans to boost control of its natural resources and increase production, two days after seizing oil producer YPF SA.

• Thursday, April 19th 2012 - 05:10 UTC

  US “very concerned” about effects of YPF nationalization; Argentina’s risk soars to 1.044

  

  The US government finally broke silence regarding the YPF controversy and expressed “deep concern’ over the expropriation plans. A State Department spokesman said on Wednesday the plans “could have an adverse effect on the Argentine economy.”

• Thursday, April 19th 2012 - 05:08 UTC

  YPF nationalization allegedly killed Repsol’s Chinese option to leave Argentina

  

  China's state-owned Petrochemical Corp (Sinopec) spokesman Huang Wensheng came on stage to play down rumours indicating that Argentina's move to nationalize local oil company YPF, controlled by Spain's Repsol, has spoiled years of planning by Sinopec to buy the energy giant.
  “We don't comment on market rumours,” Wensheng said.

• Wednesday, April 18th 2012 - 22:56 UTC

  EC and Italy call on Argentina to fulfil its international commitments

  

  European Commission Vice President Antonio Tajani addressed Argentina's plan to expropriate 51% of the 57.43% share-package Spanish ran Oil Company Repsol owns, during a speech at the European Parliament on Wednesday. From Rome Italy also voiced its concern with events regarding YPF and trade restrictions.

• Wednesday, April 18th 2012 - 22:49 UTC

  Repsol shares plunge 32.7% in Wall Street after three days of trading suspension

  

  Shares of Argentina’s biggest energy company Repsol-YPF plunged 32.7% on Wednesday in Wall Street after transactions resumed following three days of suspension.

• Wednesday, April 18th 2012 - 22:34 UTC

  Brazil feels YPF dispute will not interfere with Petrobras operations in Argentina

  

  Brazil’s Mines and Energy minister Edison Lobao discarded that operations of Petrobras in Argentina could be affected by the decision from the administration of President Cristina Fernandez to expropriate YPF from Spain’s Repsol.

• Wednesday, April 18th 2012 - 22:22 UTC

  Uruguay’s Mujica supports Argentina in the YPF dispute, but opposition blasts the president

  

  Uruguayan president Jose Mujica expressed solidarity with the Argentine government decision to nationalize the oil company YPF belonging to Spain’s Repsol and said he does not like the “arrogance of rich Europe”. His position however was strongly criticized by the opposition.