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.
Argentina’s government will monitor ownership changes at Spain’s Repsol and it reserves the right to wield its golden share in YPF, the Spanish concern’s local unit, YPF, said in a statement after a board meeting that included a state-appointed director.
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.
Exxon Mobil Corp, the largest US oil company, will spend as much as 76.3 million dollars to explore and develop shale oil and natural gas in Argentina with Americas Petrogas Inc.
Repsol-YPF, Spain’s largest oil company, said second-quarter earnings fell 7.3% after refining margins narrowed and output declined because of the civil war in Libya and strikes in Argentina.
Mexico's state oil monopoly Pemex said on Monday it recently bought 825,150 shares in Repsol YPF, increasing its stake in the Spanish company to 5%. The stock purchase took place on July 13, Pemex's finance department said, without giving details of the cost of the deal.
Spanish oil and gas group Repsol YPF announced last week that its joint venture with China's Sinopec Group had made a new discovery of good quality oil in Brazilian ultra-deep water.
Two Norwegian flagged vessels contracted in support of Argentina’s YPF oil rigs in the South Atlantic but which rumours had them working for the Falkland Islands, triggered major rioting and protests Friday and early Saturday in the city of La Plata.
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.