09/01/2013 | Argentina

Gov't challenges court in Palermo fairgrounds expropriation case

The National Government challenged the recent ruling by the Federal Civil and Commercial Court in the Rural Society grounds expropriation case and called for it to be transferred to a different court, a few days after an injunction over the seizing was issued.

09/05/2013 | Argentina

Kirchnerite MPs seek to expropriate Papel Prensa

Victory Front lawmakers have submitted a bill to expropriate 24 percent of Papel Prensa, the newsprint company with media groups Clarin and La Nacion as major shareholders. Carlos Kunkel, at the head of the move.

10/05/2013 | Argentina

Papel Prensa seizure: Kirchnerism to 'guarantee paper supply'

Ruling party lawmaker Luis Cicogna came to stage to defend the government’s unveiled plan to seiz Papel Prensa saying the move seeks to “guarantee paper supply to Argentina’s newspapers.”

09/08/2012 | Argentina

Ciccone expropriation bill cleared for debate at Upper House

The bill that seeks to take over the former Ciccone mint company and to declare money printing national interest was cleared for debate following a meeting of Committees at the Upper House.

28/12/2012 | Argentina

La Rural: Judge rules in favour of expropriation

Judge Silvina Bracamonte rejected the cautionary measure requested by the Argentine Rural Society (SRA) to stop the expropriation of the grounds in Palermo announced by the National Government last Friday.

03/01/2013 | Argentina

UIA shows concern about La Rural issue

The Argentine Industrial Union (UIA) showed its "concern" about the situation regarding the Argentine Rural Society's (SRA) La Rural property in Palermo, after the Government ordered its expropriation.

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.”

08/05/2012 | Argentina

'Many times we were told we would be shut out from the world, yet here we are,' CFK

President Cristina Fernández de Kirchner assured on Tuesday that “all decisions made” regarding nationalizations “are not rooted in ideology or populist decisions. It’s the disaster caused by the concessionary companies that forces us to intervene,” she said in reference to the AySA water company, nationalized in 2006.

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.

26/04/2012 | Argentina

Feletti: 'Gov't hasn't shown deplorable administration' in other expropriated companies

Lawmaker and former Economy Deputy Minister Roberto Feletti said at Ambito Debate TV show that government "hasn´t shown deplorable administration" in those companies that have been expropriated.

02/05/2012 | Argentina

Lower House debates YPF draft bill

The Lower House of Congress began the YPF draft bill debate over the expropriation of the oil company that has been already preliminary approved by the Senate. The session went on until midnight and will go on a recess to continue today at 10am. The government-sponsored bill will determine the expropriation of the 51 percent of the shares of YPF so far owned by Spain-based energy company Repsol.

03/05/2012 | Argentina

Kirchnerite organizations celebrate YPF expropriation

Kircherite organizations gathered outside Congress to celebrate the nationalization of YPF, which was approved by the Lower House shortly after 9.30 pm by a wide margin of votes. They are led by Vice-president Amado Boudou, Cabinet Chief Juan Abal Medina and the President's daughter, Florencia Kirchner.

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." 

24/04/2012 | Argentina

Randazzo: YPF expropriation 'will favour future generations'

Interior Minister Florencio Randazzo assured that the consequences of the expropriation of Repsol YPF will be “absolutely favourable for the country’s development,” adding that they will be seen “by future generations.”

25/04/2012 | Argentina

De Vido: 'Repsol's investment was insufficient, causing danger to the company'

Planning Minister Julio De Vido and Deputy Economy Minister Axel Kicillof, who head the audit investigating investments made in the petrol company YPF -currently in the process of expropriation- denied today that Repsol had invested more than 20 billion dollars in the company since 1999, as the Spanish company had stated to the Argentine press.

20/04/2012 | Argentina

Menem: 'I will back YPF's expropriation'

Former president Carlos Menem said today he will attend the Upper House debate on YPF's expropriation and back the national government's bill.

20/04/2012 | Argentina

YPF, out of international agenda until June

By Carlos Burgueño
The government’s decision of nationalizing YPF will be discussed in June in Los Cabos, Mexico, during the G-20 summit. Until then, there will not be any official statements as a result of several meetings held last night in Washington by Economy Minister Hernán Lorenzino with high-ranking officials.

21/04/2012 | Argentina

Pichetto calls UCR's decision to vote in favour of expropriation 'coherent'

The head of the Kirchnerite caucus in the Upper House, Miguel Ángel Pichetto, considered on Saturday that the UCR party’s decision to vote in favour of the YPF expropriation is “coherent” and assured that “a large percentage of senators would vote for it.”

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.

19/04/2012 | Argentina

YPF Gas to be added to expropriation bill

National senator Aníbal Fernández, who presided over yesterday’s and Tuesday’s session, announced yesterday that a modification would be made to the original bill to add another Repsol-owned company to the expropriation.

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.

17/04/2012 | Argentina

PRO party lawmaker's bloc rejects YPF expropriation

The centre-right PRO party lawmaker’s bloc rejected last night the draft bill putting forth the expropriation of petrol company YPF, which was yesterday sent to the Congress by President Cristina Fernández de Kirchner.

17/04/2012 | Argentina

Economy Deputy-Minister Kicillof: 'We will not pay Repsol what they say'

During today's debate held over the Repsol-YPF expropriation draft bill at the Upper House, Economy Deputy-Minister Axel Kicillof stated that "Argentina will not pay Repsol whatever amount they consider the company is worth", and remarked that the government's intervention on the oil and gas company will “review” the company's accounting documents as previous directors kept key data as “secret information” leaving a cloud of doubt over YPF’s real value.

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).

17/04/2012 | World

UK 'very concerned' over YPF expropriation plans

British Foreign Secretary William Hague said he was “very concerned” at President Cristina Fernández de Kirchner’s announcement to expropriate YPF, a decision he believes “goes against all the commitments Argentina has made in the G20 to promote transparency and reduce protectionism.”

18/04/2012 | World

Spain wants EU complaint with WTO on Argentina

Spain will ask the European Union to file a complaint with the World Trade Organization against Argentina for seizing control of energy company YPF, which is majority owned by Repsol, a high-ranking government source said today.

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.

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.

17/04/2012 | World

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

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.”

16/04/2012 | Latin America

Mexico blasts YPF expropriation plans, Chile 'concerned'

Mexican President Felipe Calderón said the decision to expropriate YPF was not “very responsible nor very rational.” The Chilean government also expressed 'concern' after the controversial announcement.

01/05/2012 | Latin America

Morales announces expropriation of REE shares in Bolivia

Bolivian President Evo Morales announced the expropriation of the Red Eléctrica Española (REE) shares at an power transmission company in Bolivia and ordered the Army to take over the firm's headquarters.