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.
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.
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.
Spain’s Foreign Minister José Manuel García-Margallo warned on Tuesday that “Argentina has just shot itself in the foot” as the expropriation of YPF oil and gas company might lead to “a break- up with both Spain and the international community.”
British Foreign Secretary William Hague said he was “very concerned” at President Cristina Fernández announcement to expropriate YPF, a decision he believes “goes against all the commitments Argentina has made in the G20 to promote transparency and reduce protectionism.”
Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
The European Commission called off a meeting with officials in Argentina after President Cristina Fernández revealed plans to expropriate 51% of YPF from its mother corporation Spain’s Repsol.
The Royal Gibraltar Regiment has left its base on the Rock to take up ceremonial duties in London. It is only the second time that the regiment has performed public duties in London taking over from the Coldstream Guards at the famous Changing of the Guard ceremony at Buckingham Palace on Monday 16 April.
The Fifth International Conference on the Biology and Conservation of Albatrosses and Petrels (IAPC5) will be held in the Museum of New Zealand Te Papa Tongarewa on the waterfront of Wellington, New Zealand over the period Monday 13 to Friday 17 August 2012.
A Foreign and Commonwealth Minister a front bench spokesperson from the Labour Party and a representative from the Conservative Party will be among VIP guests at the June Falkland Islands 30th commemorations.