Repsol Will Sue Any Company that Invests in YPF
Repsol will take legal action against any company intending to invest in nationalized subsidiary YPF or its assets, sources confirmed to Reuters Repsol.
The news, which was conducted by Financial Times, argues that the Spanish oil group has already set his lawyers to act against a possible entry of investors in the capital of YPF.
This announcement comes as the oil company managers Argentina initiated a round of meetings with executives of domestic and foreign companies seeking agreements to increase production of oil, officials said.
The round will begin with meetings with executives from the U.S. and Argentina Medanito Conoco Phillips and Chevron, says a note from the auditors of YPF posted on the website of the Argentine Government.
In this sense, is scheduled to hold a meeting tomorrow with Exxon, while for the next few days waiting to see those responsible for the Canadian company Talisman.
The intervention process is in the hands of YPF Argentine Planning Minister Julio de Vido, who on Friday met in Brasilia with his Brazilian counterpart of Mines and Energy, Edison Lobao, with the president of Petrobras, Maria das Graças Foster, and then was received by Foreign Minister of Brazil, Antonio Patriota.
Also, De Vido met with the Vice President of Exploration and Exploitation of the Americas France’s Total, who agreed to negotiate the extension of two million cubic meters of gas production two sites, in which both companies are associated.
The Argentine Senate on Wednesday debated a bill that provides government expropriation of 51% of the Class D shares held by Repsol, and the majority that the Spanish capital has YPF Gas, the largest retail distributor of liquefied petroleum gas in cylinders.
Category: Business News
