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December 18, 2014
Tuesday, March 18, 2014

Senate commission ready to sign approval of YPF-Repsol deal

Government senators will tomorrow sign committee approval for the deal that will compensate Repsol for the expropriation of a majority of YPF shares, in spite of criticism from indigenous groups, specialists and opposition figures who questioned the figures for the petroleum company and the environmental impact.

Members of the Energy, Mining and Fuel as well as the Economy and Budget senate commissions evaluated the projected sent to the Upper House by the presidency today.

Specialists in the field and representatives of indigenous community were also present in discussions, having been invited by the opposition.

In spite of the criticisms raised in the meeting, the government announced that tomorrow approval of the project would be signed, when the committees reconvene at midday. This would leave the bill open to be voted on by the Senate on March 26.

Progressive Front senator Fernando 'Pino' Solanas was one vocal opponent of the agreement, requesting it be "invalidated" because, in his opinion, approval for compensation over YPF was obtained after the accord. Solanas also alled for an audit over "environmental damage."

Spokesman for the Mapuche community Gabriel Cherquis affirmed that "thousands and thousands of litres of water will be polluted through hydrocarbon exploitation," and demanded to know "if within the amount to be paid the environmental damage has already been accounted for."

The leader of the government bloc, Miguel Ángel Pichetto, responded to those doubts asking for "a more realistic presentation," in order to find a way of "bringing together the interests of the country, the indigenous population and the productive projects that the country needs."
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Tags:  YPF  Repsol  expropriation  CFK  senate  





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