Why did Argentina nationalize YPF?

Fernandez justifies the renationalization of YPF – which was privatized in the 1990s after decades as a state-owned company – on the grounds that it failed to boost oil and natural gas production needed to keep up with local demand. Energy import bills have shot higher, putting Argentina’s prized trade surplus at risk.

When did Argentina nationalize YPF?

Renationalization of YPF

President Cristina Fernández de Kirchner announces the bill to renationalize YPF.
Date	2012
Location	Argentina
Participants	Government of Argentina, Repsol, government of Spain, Petersen Group

What happened to YPF when it was nationalized?

After YPF was nationalized in 2012, Repsol’s share in the company was seized and reduced to 12 percent without any compensation. The settlement had been pending since the company’s expropriation.

Is YPF government owned?

YPF S.A. (Yacimientos Petrolíferos Fiscales; English: “Fiscal Oilfields”) is a vertically integrated, state-owned Argentine energy company, engaged in oil and gas exploration and production, and the transportation, refining, and marketing of gas and petroleum products. …

What does YPF stand for?

YPF

Acronym	Definition
YPF	Yacimientos Petrolíferos Fiscales (Argentina)
YPF	Youth Physical Fitness (US Marine Corps Youth Foundation, Inc.)
YPF	Yamma Pit Fighting (mixed martial arts)
YPF	Young Playwrights Festival (annual festival)

What happened to Repsol in Argentina?

Spanish oil company Repsol has ended its operations in Argentina, two years after the government seized its assets. Last month the Argentine congress gave final approval to pay $5bn (£3bn) in compensation for Repsol’s stake in Argentine oil firm YPF.

Is YPF a national oil company?

One of many parastatals that was privatized was its national oil company, Yacimientos Petrolíferos Fiscales (YPF). Established in 1922, YPF was the oldest nationalized oil company outside the Soviet Union, and historically considered a national legacy and excluded outsiders.

Is Argentina located in Europe?

Argentina is a vast country located in the southern part of South America. The eighth largest country in the world, it is the second largest country in South America after Brazil, and it’s about one-third the size of the United States. Argentina is bordered by the Andes Mountains and Chile to the west.

Does Repsol still own YPF?

Does Repsol own YPF?

In 1999 Repsol bought 97.81% of the Argentine oil and gas company YPF S.A., which at the time was the largest oil-and-gas company in Ibero America. The acquisition better positioned Repsol as a multinational company. Repsol’s acquisition of YPF also increased its capital to 288 million shares worldwide.

What nationality are Argentines?

The most common ethnic groups are a mix between Spanish (including Galicians and Basques), Italian and Native American. It is estimated that up to 30 million Argentines, up to 62.5% of the total population, have Italian ancestry, wholly or in part. There are also some Germanic, Slavic, Irish and French populations.

Is Argentina a 1st world country?

Argentina is a developing country that ranks very high in the Human Development Index, the second-highest in Latin America after Chile. It is a regional power, and retains its historic status as a middle power in international affairs….Argentina.