Amazines Free Article Archive - Tuesday, October 20, 2020
Read about the most recent changes and happenings at
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Subscriptions Manage Ezines
 Article Archive
 Advertising (133418)
 Advice (161139)
 Affiliate Programs (34751)
 Art and Culture (73737)
 Automotive (145654)
 Blogs (75196)
 Boating (9843)
 Books (17221)
 Buddhism (4128)
 Business (1328962)
 Business News (426365)
 Business Opportunities (366330)
 Camping (10967)
 Career (72752)
 Christianity (15847)
 Collecting (11638)
 Communication (115068)
 Computers (241945)
 Construction (38924)
 Consumer (49684)
 Cooking (17066)
 Copywriting (6634)
 Crafts (18205)
 Cuisine (7543)
 Current Affairs (20417)
 Dating (45881)
 EBooks (19691)
 E-Commerce (48222)
 Education (185288)
 Electronics (83503)
 Email (6407)
 Entertainment (159837)
 Environment (28929)
 Ezine (3039)
 Ezine Publishing (5449)
 Ezine Sites (1550)
 Family & Parenting (110922)
 Fashion & Cosmetics (196423)
 Female Entrepreneurs (11845)
 Feng Shui (131)
 Finance & Investment (310451)
 Fitness (106330)
 Food & Beverages (62909)
 Free Web Resources (7939)
 Gambling (30220)
 Gardening (25143)
 Government (10530)
 Health (629695)
 Hinduism (2206)
 Hobbies (44054)
 Home Business (91574)
 Home Improvement (251133)
 Home Repair (46168)
 Humor (4834)
 Import - Export (5453)
 Insurance (45106)
 Interior Design (29581)
 International Property (3485)
 Internet (191001)
 Internet Marketing (146454)
 Investment (22837)
 Islam (1167)
 Judaism (1356)
 Law (80483)
 Link Popularity (4595)
 Manufacturing (20852)
 Marketing (98962)
 MLM (14136)
 Motivation (18218)
 Music (27013)
 New to the Internet (9495)
 Non-Profit Organizations (4048)
 Online Shopping (129629)
 Organizing (7803)
 Party Ideas (11852)
 Pets (38068)
 Poetry (2234)
 Press Release (12682)
 Public Speaking (5635)
 Publishing (7526)
 Quotes (2407)
 Real Estate (126636)
 Recreation & Leisure (95385)
 Relationships (87666)
 Research (16165)
 Sales (80334)
 Science & Technology (110255)
 Search Engines (23486)
 Self Improvement (153216)
 Seniors (6235)
 Sexuality (35947)
 Small Business (49293)
 Software (83013)
 Spiritual (23474)
 Sports (116105)
 Tax (7659)
 Telecommuting (34066)
 Travel & Tourism (307827)
 UK Property Investment (3121)
 Video Games (13427)
 Web Traffic (11739)
 Website Design (56838)
 Website Promotion (36587)
 World News (1000+)
 Writing (35788)
Author Spotlight

I'm Ellisen, nice to meet you! Obviously you're here because you want to know who I am. Wel...more

My Name is Anish Sah, I am an Internet Marketing and SEO Expert, Social Media Guru and young Entrepr...more

I love to research products and write reviews only high-quality useful products. ...more

I am the Founder Director of, India’s First Financial Helpline and am an expert on Per...more

Former English Teacher; Musician (20+ years); Freelance Writer ...more

Argentine gov't ends state intervention in ypf, slams repsol - China Diesel Engine Forklift by he ni

Article Author Biography
Argentine gov't ends state intervention in ypf, slams repsol - China Diesel Engine Forklift by
Article Posted: 08/09/2012
Article Views: 91
Articles Written: 1145
Word Count: 651
Article Votes: 0
AddThis Social Bookmark Button

Argentine gov't ends state intervention in ypf, slams repsol - China Diesel Engine Forklift

Business,Business News,Business Opportunities
The Argentine government ended a period of administrative controlover recently nationalized oil firm YPF, accusing its formermajority shareholder, Spanish energy major Repsol, of using thecompany as a cash cow to fund its international expansion. Planning Minister Julio De Vido and Deputy Economy Minister AxelKicillof leveled the accusations Friday in presenting a reportprepared by government-appointed administrators on the situation atYPF. The government expropriated a 51 percent stake in the company fromRepsol on April 16 and that takeover was signed into law lastmonth. "YPF was a company in liquidation," Kicillof said. "It was a dairycow that they were going to milk it until it was dead," Kicillof,who has emerged as a key figure in President Cristina Fernandez'sadministration, said.

"They didn't explore ... they let reserves fall, they letproduction fall and they made a lot of money," he said of Repsol'smanagement of Argentina's largest oil firm. He said the new administrators "saw confidential plans for thefuture that were going to cause even more damage ... what I'vecalled 'depletion' ..

with irrational use of resources." "We found all of that when we opened the company's confidentialfiles," Kicillof said, adding that Repsol's strategy consisted ofusing YPF's profits for its international expansion. "Repsol is internationalizing on the backs of YPF," he said,accusing the Spanish company of "cannibalizing" the Argentine firmand "pillaging our environment." "Repsol stopped exploring. I don't know what that company wasdoing. It wasn't an oil company.

It was something else. It was afinancial company (looking for) easy profits to transfer abroad,"the deputy economy minister said, adding that a 100-day andfive-year business plan for YPF will be announced soon. According to Kicillof, despite all the "destruction they sewed,"YPF remains a company with "enormous potential." Kicillof also referred to the massive Vaca Muerta non-conventionalhydrocarbon formation, which some analysts and industry executivessay was at the root of the expropriation. "We found a timetable of 142 meetings with international oilcompanies, 142 meetings to sell our resources or the entirecompany.

I believe the entire company," he said. Despite the criticism of Repsol for its contacts with other energycompanies, De Vido acknowledged that the Argentine government alsohas met with multinational firms in search of possible partnershipsto develop Vaca Muerta, located in west-central Argentina. He referred specifically to companies such as Houston-based ApacheCorporation and France's Total that are now producing shale oil inArgentina, squeezing it out of tight rock reservoirs through aprocess known as hydraulic fracturing, or "fracking." Repsol sent a letter to President Fernandez last month formallyproclaiming a dispute over Buenos Aires' nationalization of thecompany's YPF unit, the first step toward invoking internationalarbitration. The Spanish company, which says the nationalization violates abilateral treaty on protection of investments, has valued its stakein YPF at $10.5 billion, although Argentine state administratorshave strongly hinted the government will not pay that much.

The Spanish government also has blasted the expropriation move andretaliated by announcing plans to limit imports of Argentinebiodiesel. Madrid said it also will pursue "measures of a diplomatic nature"in various international forums in response to the takeover. The Argentine federal government is keeping just over half of thecontrolling 51 percent stake in YPF, with the remainder to bedivided among the country's oil-producing provinces. Argentina's Grupo Petersen had owned more than 25 percent in YPFbut a group of banks led by Credit Suisse will take over 19 percentof that stake and Repsol the other six percent after Petersendefaulted on a loan used to buy the stake. That will leave Repsol with a roughly 12 percent stake in YPF.

The remainder of the shares continue to be traded on the BuenosAires and New York stock exchanges. YPF shareholders will vote on a new board at an assembly scheduledfor Monday. EFE.

I am an expert from, while we provides the quality product, such as China Diesel Engine Forklift , China Off - Road Forklift, 30 Ton Forklift,and more.

Related Articles - China Diesel Engine Forklift, China Off - Road Forklift,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.


Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
Please enter the code in the image:

 Author Login 
Register for Author Account


Advertiser Login


   Limited Time $60 Offer!
   90  Days-1.5 Million Views  


Great Paranormal Romance


I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more

Stevert Mckenzie, Travel Enthusiast. ...more

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more

Demonstrated exceptional leadership in the government and private sector at an executive level. Skil...more

Jason Ng has a huge passion for the health and fitness industry as he strongly believes that having ...more

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2020, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from under the GNU FDL license