Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.
The escalade between the Argentine government and the oil companies seems to have cooled off for a few hours on Tuesday following a meeting of Planning Minister Julio De Vido with top officials from Petrobras Argentina, and which was described as ‘productive’.
Argentina’s Planning Minister Julio de Vido denied a report by Buenos Aires newspaper Clarin that the government is working on a plan to use state-controlled pensions Anses to buy a stake in oil corporation YPF, he said in a statement.
Argentina and Repsol-YPF oil corporation again clashed on Wednesday over the future of the Spanish owned company while members of President Cristina Fernandez administration said measures “can not be discarded” thus re-launching fears about further government actions.
Adding fuel to the quarrel between Argentina and Spain for disagreements over Spanish investors administrated YPF, Spanish Industry minister of José Manuel Soria vowed on Tuesday to defend his country’s interests.
A former CNN in Spanish journalist Alberto Padilla was a privileged witness of censorship in Argentina, minutes before he was to be interviewed by a television channel in Buenos Aires: “the order to stop the program came directly from (Federal planning) minister De Vido”.
The government of President Cristina Fernandez is preparing the legal framework to take control of Spain’s Repsol-YPF subsidiary in Argentina which it has accused of not investing sufficiently and has triggered a round of discussions with the Spanish corporation’s top official, reports the Buenos Aires media.
The Argentine government announced on Tuesday it was taking over two train lines, one of which was involved in last week’s tragic accident in a downtown Buenos Aires terminal which killed 51 people and left another 704 injured.
The Argentine government announced Thursday it would act a plaintiff, in defence of the public interest, in the investigation of the Wednesday train crash that killed 50 people and left over 700 injured.
The Argentine government faced with growing resistance to mining projects without the proper environment and resources assurances, which has led to demonstrations and sometimes violent clashes with police, has sponsored the creation of the Federal Mining Organization which brings together all those provinces with mining interests.