Tag: Repsol

• Wednesday, July 18th 2012 - 08:18 UTC

  “New” YPF first shareholders’ meeting turns dividends into investment fund

  

  Argentina’s seized oil and gas corporation YPF drastically cut dividend payments and created an investment fund following the first shareholders meeting since the nationalization by President Cristina Fernandez.

• Wednesday, June 13th 2012 - 06:22 UTC

  Moody’s downgrades Repsol rating, exposing vulnerability to YPF seizure

  

  Moody's Investors Service decided to slash the long-term rating of Spanish oil company Repsol after the Argentine government seized 51% stake of Argentina based YPF, formally run by Repsol.

• Friday, June 8th 2012 - 21:06 UTC

  Fitch downgrades Repsol rating to BBB- on fears of YPF seizure impact

  

  Repsol, the Spanish oil producer whose Argentine unit YPF was nationalized in April, was cut to the lowest investment grade by Fitch Ratings, the first downgrade since reducing dividends to shore up its finances.

• Saturday, June 2nd 2012 - 03:17 UTC

  Repsol’s only purpose was “to milk dry” YPF of resources and reserves

  

  Argentine President Cristina Fernandez made the historic decision to nationalize oil and gas company YPF at “the right moment” because Repsol was “milking dry” YPF resources and reserves, said Planning Minister Julio De Vido and Deputy Economy minister Axel Kicillof at a press conference at the Economy ministry in Buenos Aires.

• Friday, June 1st 2012 - 01:33 UTC

  Repsol regains 6% warranty-stake in YPF and now owns 12.43% of the company

  

  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.

• Wednesday, May 30th 2012 - 17:32 UTC

  Repsol pulls out from Cuba oil search after drilling a second dry well

  

  Spanish company Repsol has said it is pulling out of Cuba after failing in a recent attempt to find oil off the island. Chairman Antonio Brufau told journalists and investors that Repsol “won't do another” well in Cuba.

• Sunday, May 27th 2012 - 03:51 UTC

  Ambassador Argüello explains to the US business community YPF seizure

  

  Argentina explained that the YPF seizure was carried out “in order to avoid an energy crisis” in an article which was published in the US edition of The Financial Times newspaper and signed by Ambassador Jorge Argüello.

• Friday, May 25th 2012 - 09:04 UTC

  Repsol partner in a huge deposit off the Brazilian coast with 1.25bn barrels of oil

  

  Spain’s Repsol, recovering from the recent seizure of YPF by the Argentine government, said an area off the coast of Brazil it is exploring with partner China Petroleum and Chemical Corp. contains the equivalent of at least 1.25 billion barrels of oil.

• Friday, May 18th 2012 - 22:39 UTC

  Repsol cancels contract to supply Argentina with LNG; YPF ensures supply

  

  Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.

• Thursday, May 17th 2012 - 11:52 UTC

  Argentine provinces face less revenue and higher rates because of YPF seizure

  

  Argentine provinces are falling back in paying salaries and honouring debts as they face a shortage of cash and almost record rates for issuing bonds in money markets, reports Buenos Aires financial press.