Spanish Repsol is sitting on €10bn

MADRID | By Carlos Díaz Güell | Spanish Repsol’s chairman Antonio Brufau noded the company’s key stakeholders -Caixabank, Pemex, Sacyr and Temasek- by recently approving an extraordinary dividend of €1 per share with a charge to present year results. The Argentinian bonds selling monetization and the sale of YPF provided the company with a juicy cashflow near €10 bn against €27.5 bn of its market capitalization.

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Reasons for Repsol to answer no to Argentina’s offer on YPF

MADRID | By Julia Pastor | Repsol’s Board of Directors will consider a proposal from the Argentinian government according to which Repsol would drop their dispute on YPF without any economic compensation and be given in return some stake of a joint venture company to develop 6% of Vaca Muerta’s field oil and gas reserves.


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 improved results are mainly due to the improvement of Repsol’s crude oil and gas realisation…

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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 of Argentina’s president Cristina Kirchner, who is since her re-election trying to stop capital outflows…

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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 government’s move to nationalize Repsol’s part of YPF without saying anything about compensation. Repsol’s share…


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 María Aznar, accorded the acquisition as a majority shareholder of Yacimientos Petrolíferos Fiscales (YPF) at a price that president of Argentina Carlos Menem took no time in accepting. The late Nestor Kirchner, married to Cristina Fernández de Kirchner, who is now Argentina’s president since succeeding her husband in…


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 this decision is “illegitimate and unjustifiable, an act preceded by a campaign of harassment, of…

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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 stockholders. The board approved this week the transfer of 1.057 billion pesos from reserve for…