The Buenos Aires media revealed late Tuesday that Antonio Brufau, CEO from Repsol-YPF, which has a dominating position in the oil and gas market in Argentina met with top officials from the President Cristina Fernandez administration.
Spain’s government is concerned that the country’s hydrocarbons flagship Repsol-YPF could fall into foreign hands following the 30% voting block made up of Mexico’s Pemex and construction company Sacyr Vallehermoso.
Spanish oil major Repsol-YPF and the Barcelona Supercomputing Centre launched this week their new joint research centre aimed at speeding the analysis of seismic data.
A group representing minority shareholders asked Spain’s CNMV stock market regulator to investigate the recent move by Mexican state oil company Pemex to double its stake in Spanish energy giant Repsol-YPF.
Spain’s oil company Repsol plans to sell up to 3% of YPF on the Argentine market as part of a gradual divestment of its stake in that unit, according to company sources.
Repsol YPF, (REP) Spain’s biggest oil company, agreed to sell 3.83% in YPF for 639 million US dollars, cutting its holding in the Argentine unit to 76%, and said it plans to sell more shares through a public offering.
Repsol, Spain’s main energy group will be investing a minimum of 768 million US dollars for the exploration of oil in the North Slope of Alaska. The operation is a joint venture with the Denver, Colorado US firms 70 & 148 LLC and GMT Exploration LLC, points out a release from Repsol.
Repsol-YPF, Spain’s biggest oil company, said fourth-quarter profit more than doubled after refining margins improved and crude prices increased. Profit adjusted to exclude inventories and one-time items climbed to 499 million Euros from 241 million Euros a year earlier, the Madrid-based company said on Thursday.
Spain's oil major Repsol YPF said on Thursday it had sold 3.3% of its Argentine unit YPF to investment funds for 500 million US dollars as part of an effort to redirect investments to less mature markets.
Argentine President Cristina Fernández de Kirchner was in charge of leading the Tuesday ceremony in which Repsol-YPF announced the discovery of a massive shale gas reserve, the largest in 35 years that could help the country reduce its imports of the fuel.