01 March 2012

ARGENTINA / SPAIN : Will Cristina Nationalize Repsol YPF's Oil Assets?


     President Cristina Ferndandez is close to Venezuela's Hugo Chavez.
     After her recent landslide re-election...she may be morphing into another of his acolytes...as her government was said to be preparing to nationalize Spain's Repsol YPF subsidiary assets there.
     The rumors sent Repsol YPF shares plunging...but they soared today...after she failed to announce new steps against the company.
     Hurried negotiations are said to be underway (foto).
     Cristina blames YPF and other energy firms for growing nationwide gasoline shortages... overcharging for diesel...and failing to reinvest in refining and production.