We know Spain's Repsol (REPYY.PK -4.1%) is a 57% owner of about-to-be nationalized YPF, but who...


We know Spain's Repsol (REPYY.PK -4.1%) is a 57% owner of about-to-be nationalized YPF, but who owns Repsol? Three of its 4 largest holders are already struggling Spanish banks, led by Caixabank with a 12.8% stake. Also in the top 4 is Mexico's state-owned oil giant, Pemex.
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Comments (2)
  • montanamark
    , contributor
    Comments (1455) | Send Message
     
    reap the fruit of socialism - what's yours is mine
    16 Apr 2012, 01:31 PM Reply Like
  • David White
    , contributor
    Comments (4977) | Send Message
     
    This comment is a conclusion that is premature. Yes, there is talk about nationalization. However, Argentina does not have good credit. It is not clear that they would be able to up the investment in oil beyond what YPF has been doing. They have no money and no credit. Instead they are scaring companies away from investing heavily in Argentina. Dumb!

     

    Specifically they have talked of nationalization. They have talked of Argentina buying a bigger interest in YPF. They have taken no definite action. So far this is rhetoric that plays well with the Argentine citizens. Reality is far different from the promises of the rhetoric. When the government finally confronts the reality that it will only hurt itself by hurting YPF, it would logically decide not to do so. Of course, who is to say the Argentine President will be logical.

     

    YPF has definitely been hurt though. Many of its properties have been taken away already by local governments for non-performance. They like the rhetoric too. It will be interesting to see how this all works out. If President Cristina Fernández de Kirchner could undo everything she and others have done so far, she would be wise to do so. This is currently a lose-lose situation.
    16 Apr 2012, 01:52 PM Reply Like
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