Renationalization of YPF

Renationalization of YPF
President Cristina Fernández de Kirchner announces the bill to renationalize YPF.
Date2012
LocationArgentina
ParticipantsGovernment of Argentina, Repsol, government of Spain, Petersen Group
OutcomeNationalization bill approved by Congress and signed on May 5, 2012; compensation agreement reached on November 27, 2013, for US$5 billion for a 51% stake.[1]
Websitewww.ypf.com

President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%.[2] The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5.[3]

The government of Argentina eventually agreed to pay US$5 billion in compensation to Repsol, which had previously owned YPF.[1]

  1. ^ a b Cite error: The named reference who was invoked but never defined (see the help page).
  2. ^ "Energy crisis provokes Argentine YPF expropriation". Yahoo! News. April 22, 2012.
  3. ^ "Renationalised YPF Aims to Bring Self-Sufficiency in Oil and Gas". IPS News. May 4, 2012.