July 22, 2014
Lower House commission approves YPF deal
A bill supporting the agreement with Spanish corporation Repsol over the expropriation of YPF will be voted by the Lower House on April 24, after members of a plenary session held by the Energy and Budget committees at the Lower House today cleared the project for debate.
The bill was approved by Victory Front and allied lawmakers after Economy Minister Axel Kicillof, the Legal and Technical Secretary Carlos Carlos Zannini, and the head of YPF Miguel Galuccio provided details about the agreement.
The Senate has already approved the deal, which establishes a US$5 billion compensation for the 51 percent of YPF shares the state expropriated in 2012.
As part of the agreement with Repsol, Argentina had said Congress would approve the deal by May 1.