MADRID | via valenciaplaza.com | Although there have been no agreement in previous occasions, Argentinian commentators describe Fainé as more ‘open-minded’ than Repsol’s president Antoni Brufau, who would favour legal action against the Kirchner government.
Repsol shrugs off YPF episode with 12.4pc increase in net income in Q1’12
MADRID | Repsol released Thursday the company’s results in the first quarter of the year excluding YPF, posting net income of €643 million, that is, 12.4% higher than the €572 million reported in the year-earlier period. Including YPF, quarterly net profit rose to €792 million, an improvement of 3.5% from €765 million year on year. The [...]
Argentina meets reality after ‘vendetta’ against Repsol
BNP Paribas’ brokerage house Cortal Consors warned about market distrust and the contagion effect over the region after the Argentine government made the announcement this week of the nationalisation of Repsol’s subsidiary YPF. In Friday’s strategy note to investors, Cortal Consors analysts said market participants fear other countries in the Latin-America area could follow the aggressive policies [...]
Affaire Repsol: Wall Street criticises Argentina’s move
NEW YORK | Amid a fresh gust of optimism as Spain raised more money than anticipated in a pair of short-term bond auctions and after a solid round of U.S. corporate earnings reports, stock markets rallied on Tuesday. However, shares of Spanish oil group Repsol tumbled more than 6% in the wake of the Argentine [...]
The best thing that could happen to Repsol
By Alberto Valverde (http://www.capitalmadrid.com) in Madrid | In 1999, Alfonso Cortina, Repsol’s president sworn in by the grace of the then president José MarÃa Aznar, accorded the acquisition as a majority shareholder of Yacimientos PetrolÃferos Fiscales (YPF) at a price that president of Argentina Carlos Menem took no time in accepting. The late Nestor Kirchner, married [...]
Kirchner’s checkmate to Repsol threatens foreign investment in Argentina
By Tania Suárez, in Madrid | President Cristina Kirchner may have got her way as she finally decided to expropriate Repsol’s YPF unit. The Argentine government confirmed the nationalisation of a 51% stake in YPF, because by decree it considered the oil firm’s activities of ‘public interest’. Tuesday morning, the president of Repsol Antonio Brufau declared that [...]
Madrid’s financial City approves YPF dividend payment strategy
MADRID | YPF, the subsidiary in Argentina of Spanish oil company Repsol, will carry out last year’s dividend payment in shares in response to pressure from Cristina Fernández de Kirchner’s government. The republic’s authorities have vehemently expressed their desire for the corporation to increase investment activity in the country instead of distributing the cash to [...]
