Advertisement

April 19, 2012

Argentina Takeover Threatens Energy Boom

James O'Toole, CNN Money


cnn

(NEW YORK) CNNMoney -- Argentina's government announced a brazen takeover of the country's largest energy company this week, potentially quashing a domestic shale gas boom.

Argentine president Cristina Fernández de Kirchner said Monday that she was sending a bill to the country's legislature authorizing the seizure of a controlling stake in energy firm YPF (YPF), the majority shareholder of which is Spain's Repsol (REPYY).

Read Full Article ››

TAGGED: repsol, government takeover, oil industry, Cristina Kirchner, Argentina

RECOMMENDED ARTICLES

April 17, 2012
The Last Energy Tango in Buenos Aires
Steve LeVine, Foreign Policy
Argentine President Cristina Fernandez de Kirchner, angry at a rising national oil bill and emboldened by her own populist fervor, has relieved Spain's Repsol of most of its shares of YPF, the country's biggest oil company.... more ››
April 18, 2012
Argentina Tries the Hugo Chavez Way
Roben Farzad, BusinessWeek
It’s hard to believe now, but in the early 1980s, Argentina was perhaps the most promising and talked-about emerging market. Coming off the trauma of its Dirty War and military dictatorship, and its disastrous invasion of the... more ››
April 18, 2012
Have We Lost Latin America?
Matthew Hulbert, Forbes
Things haven’t been going well in Latin America for international oil companies seeking access to resource riches. On Monday, Argentina pulled the trigger on Repsol, renationalizing YPF and chucking the Spanish company... more ››
April 16, 2012
The Prez's Oil-Tax-Break Lies
Bernard Weinstein, New York Post
The next time you hear President Obama beating up on oil companies and crusading to wipe out what he calls the industry’s “tax breaks,” don’t be fooled: He’s telling a lie. Recently at the White... more ››
April 12, 2012
Is the Oil Industry Underestimating Its Profits?
Simon Mui, EC
In my last blog, I posted estimates on how much of the money you spend on gas is going to the oil industry’s profits. Our updated estimate shows that 23 cents of every dollar you spent on gasoline in February went to the oil... more ››
|