Energy & Oil

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.
Wednesday, April 18th 2012 - 08:34 UTC
Brufau said Repsol will demand a compensation of 10 billion dollars

Repsol’s Chairman Antonio Brufau said the Spain-based group will demand to Argentina a compensation of 10 billion dollars after President Cristina Fernández decided to nationalize the energy giant. Likewise, Brufau accused the Argentine government of “having distorted information” on regards the company’s production during Monday’s presentation.
Wednesday, April 18th 2012 - 08:30 UTC
Debts and environmental cleanup to subtracted from YPF compensation says Argentina

Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.
Wednesday, April 18th 2012 - 08:26 UTC
Fitch places Repsol on Rating Watch Negative following the YPF takeover operation

Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.