May 25, 2013
'Repsol came here to empty-out YPF,' Kicillof says
With the presence of Cabinet Chief Juan Abal Medina, YPF CEO Miguel Galuccio, and Deputy Economy Minister Axel Kicillof, the government presented the “Mosconi Report”, a balance of Spaniard group Repsol's long spell in command of the energy giant from 1999 to 2012, at the National Library.
During the presentation, Kicillof assured that the Spain-based group “came here to loot YPF as they were using the profits made in Argentina to propel the company’s growth in some other parts of the world."
“We are already conducting new oil drills, something that would have never happened with the previous management.”
Likewise, the economist bashed those who repudiated YPF’s expropriation, “There was no other way if we wanted to increase the production levels.”
As announced, the Mosconi Report is aimed at “unveiling the pillage and the lack of investment” occurred under the management of Repsol (1999-2012).
For Cabinet Chief Abal Medina, the report "opens a new chapeter in the access to public infomation."