Published on Oct. 25, 2012
It has been 6 months since YPF was expropriated in Argentina and the Government has been looking for new investors since then, with no success. The fall in share prices into half their initial value has not been enough to attract them into the oil fields and the fuel exports have raised 35% due to the production reduction in YPF, which was 60% of the market. On the other hand, the company has decided to increase the oil price twice.
It has been also 6 months since the period for achieving a friendly agreement started. This period, stated by law, is expected to solve the Repsol’s claim dated May 10 as the expropriation did not meet the legal requirements ...
Published on Oct. 9, 2012
The Commerce Court n. 1 in Madrid upheld the claim brought by Repsol against YPF due to unfair competition.
The case stems from YPF offering shale oil and gas reservoirs which Repsol found before they were expropriated. The offer includes Vaca Muerta, one of the biggest oilfields that would lead a third competitor to a privilege position in the oil and gas sector.
The company owned by Antonio Brufau reminds that the Unfair Competition Act forbids competitors to take benefit from an advantage gained through legal infraction - that means the expropriation.
In April Argentina expropriated 51% of YPF, which belonged entirely to Repsol (who owned at that moment 57.4% of the company).
In May YPF and the American miner ...
Published on Sept. 20, 2012
After the departure of German RWE, Repsol is the only holder of the blocks 13 and 14. The first change in the shareholder structure of the concessions of blocks 13 and 14, located at about 50 kilometers from the eastern coast of the Algarve, occurred early this year, when the Repsol acquired a participation of 30% of the German multinational company RWE Energy.
The Director of oil-and-gas Spanish company , Mr.Max Torres, said to Economic Daily that the was looking for new partners to share the risks and investments.
Actually, the Partex is negotiating with Repsol the entry in exploration and exploitation of natural gas in Algarve , some source close to the process ensures that negotiations are in the advanced phase.
The project in Algarve - exploration and production of natural gas - represents financial effort of about 83 million dollars (66 million euros).
Published on April 11, 2012
Iberdrola will invest a total amount of $2.346 million in the New York State through its two American subsidiaries: New York State Electric and Gas Corporation (NYSEG) and Rochester Gas and Electric Corporation (RG&E).
From the budget announced, 40% will be destined to electricity transportation facilities, 26% to distribution facilities and 24% to the gas business. The total amount of the budget is divided between the two subsidiaries, the New York State Electric and Gas Corporation will invest $1.117 million and Rochester Gas and Electric Corporation $1.169 milllion.
Iberdrola USA approved an investment plan of $416 million for 2012, $334 million in 2013 and $500 million for the following years. Along the period of the plan ...