The nationalization of Repsol YPF

A few weeks ago appeared the new about the attempt of the President of the Republic of Argentina, Cristina Fernandez de Kirchner, to nationalize most of the capital of the oil business of the Spanish company, Repsol, in Argentina. This would lead the expropriation of the 51% of the Spanish company shares in Argentina, Repsol YPF. Becoming the actionist more powerful and who would control the more important decisions, over the rest of investors, both states and individuals shareholders.

The Spanish government through Antonio Brufai, executive president of Repsol YPF, has tried for all possible means to stop the attempt of nationalization of the President of Argentina. For example through the exposure to expropriation alternatives proposals like the exploitation of Vaca Muerta, a chain of fields that have the ability to produce a million of barrels every day of petrol and cover all gas needs in Argentina, something that the representatives of Argentina were not strongly agree and branded of insufficient. According to the Spanish government these insistences was originated because this situation would involve multiples consequences for the bilateral relations among Spain and this South American country and Spain would be forced to create a diplomatic action for these events don’t occur again. This action would cause withdrawal of multiple helps that Spanish government provides the country to implement its evolution. (This issue is a little bit subjective, depends on who is addressing.
On the other hand, outsides threats and the Spanish intentions to try limit her actions, the president Cristina Fernández de Kirchner argues its decisions saying that the nationalization of YPF would help positively the country in its situation now a day and on the other hand would be very useful public, with this last affirmation a lot of people think that she manifest her intention to replace rules of conduct of a serious and reliable country by a rules of government based in populists and reactionary practices.
One of the most important problems for Spain of the nationalization of company Repsol YPF in Argentina by their president Cristina Fernández de Kirchner, is that Spain has more or less 57% of the shares of YPF and for this reason Spain have the most control over the decisions to be and on which rests most of the responsibilities and the more important thing, company profits. For this reason if Repsol was nationalized Spain would lose more or less 24% of the shares of YPF and Argentina would get 51% of the shares becoming the largest shareholder obtained greater control over decisions and the power to decide what exploitations are carried out, relegating Spain and leaving it in the background incapable of a decision striking.

Victoria Gaerbaudo, Isabel Rivero, Olga Conde, Estefanía Sánchez


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