12/06/2012 | Argentina

Moody's slashes Repsol's rating after YPF's seizure

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

03/12/2012 | Argentina

Repsol files ICSID complaint against Argentina

Spain's Repsol SA filed a complaint against Argentina before the International Center for Settlement of Investment Disputes (ICSID) today over its nationalization of energy company YPF SA, a source familiar with the matter told reporters.

07/12/2012 | Argentina

YPF sees deals with Bridas, Chevron before end 2012

Energy company YPF expects to finalise an agreement with Bridas Holding for it to make a substantial invesmtent in YPF's shale assets before the end of 2012, YPF's chief executive said today.

31/05/2012 | Argentina

Repsol shareholder says 'what Argentina did was an act of piracy'

"This was an act of piracy," Repsol shareholder Rafael Gonzalez said at the company's annual meeting in Madrid, pleading with Chairman Antonio Brufau to keep up the fight against Argentina.

01/06/2012 | Argentina

'We could prove the damage Repsol had caused to YPF'

Planning Minister Julio De Vido and Economy Vice-Minister Axel Kicillof held today a press conference at the Economy Ministry to unveil the latest report about YPF's situation after the government’s takeover which, they announced, has concluded.

04/06/2012 | Argentina

Galuccio, Kicillof lead new YPF board of directors

The YPF shareholders picked the company's new board of directors, which includes sixteen members representing the nation and the provinces, and one member representing Spanish oil company Repsol.

18/05/2012 | Argentina

'The best solution to the YPF seizure standoff is a negotiated agreement', EU Ambassador

The European Ambassador to Argentina, Spanish native Alfonso Díez Torres, stressed today that the solution for the YPF seizure conflict would be “a negotiated agreement” between Argentina and Repsol.

18/05/2012 | Argentina

Repsol cancels liquefied natural gas cargoes to Argentina

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 today by international news agency Reuters showed.

29/05/2012 | Argentina

Repsol awaits 'new Argentine gov't' to discuss YPF compensation

Repsol president Antonio Brufau disclosed today the company’s hopes for a “new Argentine government” in order to discuss the compensation given to the Spanish petrol giant, following the expropriation of YPF.

03/05/2012 | Argentina

UCR's Deputy Aguad says party backs YPF expropriation due to 'pressures'

Radical Party’s Oscar Aguad assured today that a large majority of his Radical fellow-lawmakers reject the YPF draft bill to expropriate 51 percent of energy company YPF sponsored by President Cristina Fernández de Kirchner, but they have been “pressured during the past two weeks” to back the project.

04/05/2012 | Argentina

YPF expropriation: Randazzo praises 'overwhelming majority' of votes in Congress

Interior Minister Florencio Randazzo, highlighted the ‘overwhelming majority’ of votes in favour of the YPF expropriation bill, approved at Congress last night, and recognized the “nobility and support from non-Kirchnerite politicians.”

15/05/2012 | Argentina

Repsol says starts legal process over YPF seizure

Spanish oil major Repsol said today it had taken the first step in a process to pursue legal action against Argentina for seizing energy firm YPF.

23/04/2012 | Argentina

Timerman denies EU's complaining letter over YPF

Foreign Minister Héctor Timerman denied having received a complaining letter from the European Union’s Commissioner for Trade, Karel de Gucht, over the government’s expropriation plans of oil and gas company Repsol-YPF.

26/04/2012 | Argentina

Senate passes YPF expropriation bill

The Upper House passed Repsol-YPF’s expropriation bill late last night after debating for more than 15 hours. With 63 votes in favour, 3 against and 4 abstained from voting, Senators passed the bill sent to Congress by President Cristina Fernández de Kirchner that calls for the expropriation of 51 percent stake in YPF oil and gas giant, which are currently held by Spain-based energy company Repsol. Now the bill will be sent to the Lower House for final approval next week.

29/04/2012 | Argentina

Aguad calls UCR to ‘rebuild identity’, confirms disagreement with YPF expropriation

Radical party’s Deputy Oscar Aguad came on stage to reaffirm his differences with the party’s decision to vote in favour of the expropriation of YPF on next Thursday’s Lower House’s session, and confirmed that he will not endorse the measure.

19/04/2012 | Argentina

Repsol-YPF shares edge down in Madrid

Shares of Spain-based firm Repsol-YPF fell sharply in Madrid today plunging 2.47 percent yesterday, to 15.05 euros (US$19.66) each, underperforming the benchmark Ibex index, which was down 1.77percent.

21/04/2012 | Argentina

Gov't ministers criticize Macri's stance on YPF

Interior Minister Florencio Randazzo and Industry Minister Débora Giorgi took to social network Twitter today to throw sharp critique against Mauricio Macri’s negative stance on the expropriation of oil company YPF, stating that the PRO party "is likely to defend Repsol's interests." 

23/04/2012 | Argentina

Aníbal Fernández: 'We won't pay what the main responsible for looting YPF says'

Kirchnerite Senator Aníbal Fernández assured today that the government “will pay what YPF truly worth, and not what Repsol’s chairman [Antonio Brufau] wants.”

16/04/2012 | Argentina

CFK orders YPF intervention, appoints De Vido as controller

After announcing the draft bill that seeks to expropriate 51 percent of Repsol-YPF oil and gas company, President Cristina Fernández de Kirchner signed a decree ordering the intervention of the company, and appointing Planning Minister Julio De Vido, and Economy Deputy Minster Axel Kicillof as controllers.

18/04/2012 | Argentina

Same people that ruined oil industry is now picked to recover it, says Deputy Estenssoro

Deputy María Eugenia Estenssoro anticipated that the Civic Coalition party she represents will vote against the draft bill presented by the national government to expropriate the 51 percent of the YPF shares held [57.43 percent] by Spain-based energy group Repsol.

18/04/2012 | Argentina

Senators clear for debate YPF expropriation bill

With the presence of oil and gas experts, and opposition parties, the Upper House's Budget and Finance, Constitutional Affairs, and Energy committees cleared for debate the YPF expropriation draft bill presented by the Executive Power, after a second day of talks. Thus, the draft bill will reach to the Lower House for debate on Wednesday next week.

15/04/2012 | Argentina

Repsol’s Chairman calls for more dialogue, less 'imposition'

The head of the Spanish oil company Repsol, Antonio Brufau, sent a direct message to the government of President Cristina Fernández de Kirchner and said, “there should be no speeches or attempts to impose something, but try to establish more dialogue” to resolve the conflict that the oil giant has with the government and that could lead to the nationalization of YPF.

16/04/2012 | Argentina

Spanish gov’t warns YPF nationalization will trap Argentina in populism's jaws

Spain's Economy Minister Luis de Guindos alerted that nationalizing YPF would be a “bad decision for Spain, that would only generate the sensation that Argentina is, once again, lost in the throes of populism", during conversations with the Iberian media today.

16/04/2012 | Argentina

YPF's stock transactions suspended in New York, Buenos Aires

Shares of Argentina’s biggest energy company Repsol-YPF fell by 11.2 percent in Wall Street and edged down by 2.5 percent at the Merval Buenos Aires stock before both stock markets suspended the company’s transactions for the day.

12/04/2012 | Argentina

YPF rumours go back and forth as shares rocket

Amidst the numerous rumors indicating that President Cristina Fernández de Kirchner would announce today the take-over of Repsol-YPF oil and gas producer, the most consistent one was a draft bill that opposition lawmakers received today in which details and steps on how the government expects to regain at least 50.011 percent stake of the oil giant are detailed.

13/04/2012 | Argentina

Growing pressure from Spanish gov't on Argentina over YPF

The Spanish government is mounting pressure on Argentina over its plans of oil company YPF. Spain said today that any decision that Argentina may take against Repsol's YPF unit would be very negative for Spanish interests and warned it would take measures against Argentina if needed.

13/04/2012 | Argentina

EU concerned over Argentina's YPF plans, backs Spain

The European Union's executive said today it had expressed its concerns to Argentina over reports of plans to nationalise part of the country's biggest energy firm YPF, majority owned by Spain's Repsol. Olivier Bailly also said the block would " stand side-by-side with Spain in this situation," he added.

03/04/2012 | Argentina

YPF shares plunge in Buenos Aires and New York

Shares in Argentina's biggest energy company YPF plunged 18.3 percent in Buenos Aires today while the company's US-listed shares were 3.3 percent lower in New York after they fell to a three-year low yesterday.

04/04/2012 | Argentina

Río Negro terminates another Repsol-YPF exploitation license

Río Negro Governor Alberto Weretilnek announced the termination of a Repsol-YPF concession contract for the Ñirihuau area, located 35 kilometres from the city of Bariloche. This is the second license the Patagonian province terminates in the past two weeks.

12/04/2012 | Argentina

CFK meets with governors from oil-producing provinces

President Cristina Fernández de Kirchner met with the governors members of the Federal Organization of Hydrocarbon-producing States (OFEPHI) on Thursday evening, after attending a ceremony with businessmen in the beef-producing sector at the Government House.

29/02/2012 | Argentina

YPF shares plunge more than 10.2%

Once again, YPF shares collapsed as rumours of the Government taking control of the oil giant increase. After edging down more than 7 percent, today the company’s shares plunged 10.2 percent.

21/03/2012 | Argentina

Gov't rejects Repsol-YPF's dividend reinvestment plan

During a crucial Repsol-YPF board meeting held at the oil giant offices in Puerto Madero, government officials rejected a proposal brought by Repsol CEO Antonio Brufau to recapitalize the company by returning last two years dividends to shareholders.

27/03/2012 | Argentina

Gov't to deepen measures against Repsol-YPF, says Interior Minister

Amidst raising tensions between the national government and Repsol-YPF oil company, Interior Minister Florencio Randazzo warned today that the administration led by President Cristina Fernández de Kirchner will take “all necessary measures to guarantee the country's energy self-supply”.

06/02/2012 | Argentina

Boudou: 'We should discuss whether YPF works following a national sense or not'

Vice President Amado Boudou came on stage today and sent a reminder to oil giant Repsol-YPF amidst rumors of a possible nationalization.  

07/02/2012 | Argentina

Brufau meets with Lorenzino, De Vido over YPF tension

Repsol head Antonio Brufau held a secret meeting with Economy Minister Hernán Lorenzino and Planning Minister Julio De Vido, ambito.com confirmed. The Spanish businessman returns to his country tomorrow and isn't expected to meet with President Cristina Fernández de Kirchner.

29/02/2012 | Argentina

As tension mounts, Repsol-YPF head arrives to meet gov't officials

Chairman of Repsol-YPF oil company Antonio Brufau, has arrived to Argentina to attend a round of meetings amidst the present tensions between the company and the Government triggered after President Cristina Fernández de Kirchner accused the oil giant of not making enough investments in the country.

04/05/2011 | Argentina

Lorry drivers' lift blockades, abide mandatory conciliation order

Lorry drivers led by Hugo and Pablo Moyano's union abided by the mandatory conciliation  issued by the Labour Ministry and lifted the blockades they had staged in petrol companies along Buenos Aires province. They demand an extra bonus for carrying dangerous loads. However, they warned that if theu don't reach an agreement, "they will freeze the entire country."

28/07/2011 | Argentina

Repsol Q2 falls on weak upstream

Spain's Repsol YPF SA said today adjusted net profit fell 7.3 percent in the second quarter of the year due to the loss of production in Libya and strikes at its Argentine division.

19/01/2012 | Argentina

'Repsol, we won't allow price discrimination in Argentina'

Acting President Amado Boudou warned oil company Repsol YPF that the National Government “won’t allow the discrimination of prices” in the country, following an accusation on Monday of alleged “abuse of their domination positions in the fuel markets.”

19/07/2012 | World

Spain's Repsol sells non-strategic assets in Chile

Spanish oil firm Repsol said today it sold non-strategic assets in Chile to a group of Chilean investors for 540 million dollars.

19/11/2012 | World

Repsol sues Chevron in Madrid over 'disloyal competition' in Argentina

Spanish oil company Repsol has pressed charges against Chevron over “disloyal competition”, after the US company reached an agreement with its former Argentine branch YPF to conduct explorations in the Vaca Muerta reservoir, a company spokesman announced.

21/12/2012 | World

WB tribunal accepts Repsol complaint over YPF takeover

The World Bank's arbitration body started moving ahead this week on a complaint by Spanish oil major Repsol over Argentina's expropriation of its controlling stake in energy company YPF.

11/05/2012 | World

IEA warns firms may avoid Argentina after YPF seizure

Argentina's seizure of 51% of the shares of Spanish oil group Repsol's YPF unit could scare away international firms from investing in the South American country, the International Energy Agency said today.

31/05/2012 | World

Repsol to take YPF out of its company name

Spanish oil and gas company Repsol is changing its name to reflect the fact that it no longer owns the YPF unit in Argentina following the government seizure of 51% of the company’s shares.

08/06/2012 | World

Fitch cuts Repsol rating to 'BBB-'

Fitch Ratings has downgraded Repsol S.A's long-term issuer default rating (IDR) to 'BBB-' from 'BBB' and removed it from Rating Watch Negative (RWN).

20/04/2012 | World

Fitch slams Argentina for YPF expropriation

In an article posted on the Fitch Wire credit market commentary page the rating agency slammed Argentina today for its government decision to expropriate 51 percent of the 57.43 share-package Repsol owns, as announced by President Cristina Fernández de Kirchner on Monday.

23/04/2012 | World

YPF: Spain urges Argentina 'to solve this in a friendly way or obey international courts'

Spain’s Foreign Ministry José Manuel García-Margallo urged Argentina to solve in “friendly manner” the plans to expropriate a controlling 51 percent stake in YPF by seizing most of Repsol's shares, or to obey what the international courts might rule on the matter.

07/05/2012 | World

Repsol warns oil giants to sue if they join YPF, British paper

Spain-based energy group Repsol has sent letters to oil majors including Exxon, Chevron and ConcoPhillips warning it would sue if they try to invest in YPF or its assets, according to British newspaper The Financial Times.

19/04/2012 | World

S&P downgrades Repsol-YPF ratings, negative outlook

Rating Agency S&P announced today it was downgrading Spain-based energy company Repsol-YPF after Argentina’s government announced the expropriation of 51 percent of its shares. The rating was lowered from BBB to BBB (minus), the agency said today in a statement.

19/04/2012 | World

Spain says European Union will intervene on YPF case

Spain's Trade Secretary Jaime García-Legaz said today the European Union will intervene on his country's behalf over the Argentine government's plan to seize a controlling stake in YPF oil and gas company Repsol.

20/04/2012 | World

YPF shares edge up in Buenos Aires, New York, Madrid

Shares of Argentina’s biggest energy company Repsol-YPF bounced back from previous losses yesterday and held the trend today. Sshares were up by 1.2 percent in Wall Street and 1.2 percent at the Buenos Aires Stock Exchange.

17/04/2012 | World

YPF's stocks plunge in Buenos Aires, transactions halted in New York

Shares of Argentina’s biggest energy company Repsol-YPF plunged by 7.5 percent  at the Merval Buenos Aires stock today.  In Spain, shares sank by 6.1 in trade at the Madrid Stock Exchange. Stocks transactions were halted yesterday and remained suspended for today in Wall Street.

18/04/2012 | World

Repsol's Brufau: 'Argentina will have to pay a fair price'

Repsol group’s chairman Antonio Brufau assured today that the Spain-based energy group “believes in Justice and not in demagogy."

18/04/2012 | World

YPF stock transactions resume in New York, shares plunge 32.7%

On Wednesday, shares of Argentina’s biggest energy company Repsol-YPF plunged 32.7 percent in Wall Street after transactions resumed following three days of suspension.

17/04/2012 | World

'Argentina's decision endangers friendship with Spain,' Spanish Minister

Spain’s Foreign Minister José Manuel García-Margallo warned today that “Argentina has just shot itself in the foot” as the expropriation of YPF energy company might lead to “a break-up with both Spain and the international community.”

17/04/2012 | World

YPF takeover dominates front-pages in Spain, makes headlines internationally

President Cristina Fernández de Kirchner’s statement yesterday announcing her plans to take 51 percent control of YPF, dominated Spanish front-pages today and made headlines across the world today.

17/04/2012 | World

Fitch places Repsol on rating negative watch

Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF’s takeover has been set in motion by the Argentine government.

17/04/2012 | World

Repsol to demand 10 billion dollars compensation over YPF's expropriation

17/04/2012 | World

Barroso 'seriously disappointed in Argentina'

European Commission President Jose Manuel Barroso said today he expected Argentina to uphold international agreements on business protection with Spain over its plan to take over the Argentine unit of oil major Repsol.

17/04/2012 | World

Repsol-YPF shares sink at Madrid Stock Exchange

Repsol-YPF shares sank in today’s trade at the Madrid Stock Exchange loosing 6.52 percent with an ending price of 16.34 euros per share, and registered transactions of 378,583.13 euros for the day.

14/04/2012 | World

YPF: Spanish media assures gov't could boycott Argentine meat, soy imports

Following a day of meetings and warnings against Argentina, Spanish media today assured that Mariano Rajoy’s government  was analysing commercial retaliation if the Argentine government decides to advance on nationalising petrol giant YPF. According to newspaper El Mundo, the Spanish government will boycott Argentine soy and meat imports.

16/04/2012 | World

YPF takeover makes international headlines

President Cristina Fernández de Kirchner announcement on the government’s plans to send a bill to Congress to take 51 percent control of YPF, made headlines in the Spanish media today , as well as in the international press.

16/04/2012 | World

Repsol says expropriation 'illicit,' will take legal action

Spanish oil company Repsol released a statement on Monday in response to the local Government’s announcement of the YPF expropriation, which it called “illicit and gravely discriminatory.” The company also announced that it will take “all necessary legal actions” to protect its interests and the interests of the shareholders.

12/04/2012 | World

Spanish Industry Minister issues YPF warning

Amidst the cross-fire between the Argentine government and Repsol-YPF oil giant, Spain’s Industry Minister José Manuel Soria, assured today that “any sign of hostility” against Spanish companies “will be considered as a hostile sign against Spain and its government, and will bring consequences.”

12/04/2012 | World

Repsol-YPF shares show gains in BA, Wall street; edge down in Spain

As rumours of President Cristina Fernández de Kirchner announcing the buying of a bigger stake of Repsol-YPF mixed company this afternoon, Repsol-YPF shares edged down by 0.88 percent in Madrid, while in Wall Street and Buenos Aires Merval shares presented gains of 10 and 8.5 percent respectively.

13/04/2012 | World

YPF shares edge down in Buenos Aires and New York

Shares of Argentina's biggest energy company YPF edged lower by 4.2 percent in Wall Street and 3.3 percent at  the Merval Buenos Aires stock market.

23/03/2012 | World

Fitch slashes Repsol-YPF rating

Fitch Ratings has downgraded Spanish ran Repsol YPF's rating from BBB+ to BBB, the rating agency announced today. The downgrades follow the announcement on 21 March of 57%-owned YPF S.A.'s Board of Directors that it would capitalise dividends.

04/04/2012 | World

YPF shares edge down in Buenos Aires and New York

Shares of Argentina's biggest energy company YPF edge lower by 0.6 percent in Wall Street today also slipping 0.2% at the Buenos Aires stock market.

09/04/2012 | World

YPF shares plunge in Buenos Aires and New York ahead of key week

Shares in Argentina's biggest energy company YPF plunged 4 percent in Buenos Aires today while the company's US-listed shares were 2.4 percent lower in New York ahead of key week.