Repsol, the Spanish oil company, announced this week that its longstanding executive chairman, Antonio Brufau, would hand over the job of chief executive to Josu Jon Imaz San Miguel, who has been running the company’s upstream operations.
The US embassy's business adviser in Buenos Aires, Kevin Sullivan, has welcomed negotiations between the Argentine government and Spanish corporation Repsol over the expropriation of YPF, as well as further talks with the Paris Club over the payment of outstanding debt commitments.
Spanish Foreign minister Jose Manuel Garcia-Margallo will be visiting Argentina next September to meet with his peer Hector Timerman to discuss the Gibraltar and Falklands/Malvinas sovereignty disputes and consider the possibility of a joint front.
According to reports in the Argentine media, the nationalized Argentine oil company YPF, formerly owned by Spain's Repsol, will be teaming up with Venezuelan oil giant PDVSA to explore the continental shelf around the Falkland/Malvinas Islands for oil.
US Chevron and Argentina’s nationalized YPF signed a partnership to on Wednesday to invest 1 billion dollars to develop the shale-oil reserves of Vaca Muerta in the hydrocarbons rich Patagonian province of Neuquén.
The nationalization of YPF, seized from Spain’s Repsol by Argentine president Cristina Fernandez is again a source of controversy following the disclosure by an investigative journalist that the Spanish oil corporation in 2003 helped finance the presidential election of Nestor Kirchner as well as the other candidate in the run-off, Carlos Menem.
Argentine seized YPF energy company informed on Friday that its American Depositary Shares (ADS) were listed back in to trade in New York after being de-listed for almost two months for not complying with auditory regulations.
Spain energy Group Repsol regained rights on a 6% warranty-stake in the Argentine oil and gas giant YPF after the Petersen Group, which used to own 25.46% of the company, lost it as the result of not having met payments for the loan through which they initially enter the business without paying a single cent.
Spain and the UK will join forces against attacks on their companies in Latin America, Spanish Foreign Minister José Manuel García-Margallo said, following a meeting on Tuesday in London with his counterpart William Hague.
By Luis Felipe Lampreia (*) - The following piece is a picture of recent events in Argentina from a historic reference and enumerates the obstacles the country faces in developing its own hydrocarbons following the seizure of YPF from Spain’s Repsol