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Argentina Seizes 51% of Oil Producer YPF to Stem Imports

Bloomberg -- Argentina’s seizure of YPF SA (YPFD) threatens to take the country further away from its goal of energy self-sufficiency as investors weigh the increased risk of expropriation in South America’s second-biggest economy.

President Cristina Fernandez de Kirchner named Planning Minister Julio De Vido to head the oil company with immediate effect and is sending a bill to Congress to take a 51 percent stake after oil imports doubled. Argentina, which wants to produce enough crude to match consumption, risks becoming “unviable” as a country because of the surge in imports, Fernandez said yesterday.


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Submitted Apr 18, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Argentina Seizes 51% of Oil Producer YPF to Stem Imports Back to Topics
REPLIES (newest first) Post a Reply
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JENNYHK
Champion Author Chicago

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Message Posted: Apr 18, 2012 7:53:54 PM

I liked the play.
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Beaveronparade
Champion Author Hartford

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Message Posted: Apr 18, 2012 7:53:18 PM

They should not be our problem.
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hoffbeck20
Veteran Author Minnesota

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Message Posted: Apr 18, 2012 7:50:14 PM

thats not good
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ExplorerWA
Champion Author Washington

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Message Posted: Apr 18, 2012 7:48:53 PM

Seems their government want to run the oil business. No investor's are going to want to invest in it now as government does not run anything well.
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cutter1330
Champion Author Oklahoma

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Message Posted: Apr 18, 2012 7:48:40 PM

Argentina's problem, me thinks!!
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robaloma
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Message Posted: Apr 18, 2012 7:48:03 PM

Wher have you gone?
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EmperorsFinest
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Message Posted: Apr 18, 2012 7:45:37 PM

Don't forget me Argentina!!!
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RAKARWOWSKI
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Message Posted: Apr 18, 2012 7:42:00 PM

Someone is not happy.
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pgerassi
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Message Posted: Apr 18, 2012 7:38:50 PM

It will bite them in the ass.
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gass12
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Message Posted: Apr 18, 2012 7:37:09 PM

Who really cares about them.
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pbug101
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Message Posted: Apr 18, 2012 7:37:08 PM

ok
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jdc17327
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Message Posted: Apr 18, 2012 7:35:56 PM

what?
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dale243
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Message Posted: Apr 18, 2012 7:33:36 PM

What does that mean for us?
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warlord1
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Message Posted: Apr 18, 2012 7:29:37 PM

ok
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toadNY
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Message Posted: Apr 18, 2012 7:25:51 PM

to themaninthehat, Are you Nuts?
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gasaholicMO
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Message Posted: Apr 18, 2012 7:22:23 PM

If they keep this up they will run oil companies away.
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TelsaOR
Champion Author Oregon

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Message Posted: Apr 18, 2012 7:17:00 PM

I agree with mnbeancounter:

What international company wants to invest in Argentina now?
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IMLURCH
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Message Posted: Apr 18, 2012 7:16:41 PM

Good for them.
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smenzel
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Message Posted: Apr 18, 2012 7:15:14 PM

Government involvement in business is always a tricky issue.
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DeHavilland
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Message Posted: Apr 18, 2012 7:15:04 PM

Whatever. At least they're trying something.
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jwduke1
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Message Posted: Apr 18, 2012 7:12:28 PM

Okay....
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DriverofRed
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Message Posted: Apr 18, 2012 7:11:26 PM

ok
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dinomen
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Message Posted: Apr 18, 2012 7:08:10 PM

Ok.
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RAC110
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Message Posted: Apr 18, 2012 7:05:11 PM

our country exports millions of gallons of oil all the time
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jason98122
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Message Posted: Apr 18, 2012 7:04:24 PM

Let's be careful here.
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VDubBill
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Message Posted: Apr 18, 2012 7:04:07 PM

Watch out. They could also be planning something about the oil explorations in the Falklands (BOT).
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bababooey2
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Message Posted: Apr 18, 2012 7:02:24 PM

Interesting but disturbing news.
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firefly09
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Message Posted: Apr 18, 2012 6:55:41 PM

Hmmmmmmmmmmmmm.
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BeulahME
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Message Posted: Apr 18, 2012 6:54:45 PM

not good.
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uptherefiners
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Message Posted: Apr 18, 2012 6:54:34 PM

Ticobird + 1
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GRUMPY55
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Message Posted: Apr 18, 2012 6:52:25 PM

ok
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Ticobird
Champion Author Huntsville

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Message Posted: Apr 18, 2012 6:52:22 PM

And we think our political system is broken - huh? If Argentinian citizens don't watch out their country will turn into a Chinese pawn - in the Americas no less. Our government should be trying to educate those who lean toward democracy and not socialistic government.
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fire@53
Champion Author Philadelphia

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Message Posted: Apr 18, 2012 6:50:27 PM

This will hurt Argentina as what other industry will be next to be seized!
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MDTDriver
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Message Posted: Apr 18, 2012 6:50:17 PM

No country has HIGHER oil exports than the USA!
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Ken2OD
Champion Author Grand Rapids

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Message Posted: Apr 18, 2012 6:49:34 PM

Communism - socialism - or "equating the bases." It all means the same. Listen to the words that Premier Barack uses.
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The_DR
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Message Posted: Apr 18, 2012 6:49:22 PM

What?
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vincentV
All-Star Author Toronto

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Message Posted: Apr 18, 2012 6:47:30 PM

Argentina sucks!
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nj2000ng
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Message Posted: Apr 18, 2012 6:47:28 PM

ok
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themaninthehat
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Message Posted: Apr 18, 2012 6:45:44 PM

Teabaggers don't like a government that looks our after the interest and actually serves its citizens.
Stop voting against your own pocketbook s and
Reelect the President and bring both Houses back to Democratic control.

Don't worry, Dick Cheney can't quail hunt with all of us.
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shea33
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Message Posted: Apr 18, 2012 6:45:38 PM

not good
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gravityhurts
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Message Posted: Apr 18, 2012 6:33:27 PM

Socialism at it's best...look out O-merica!
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geoutpb
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Message Posted: Apr 18, 2012 6:30:15 PM

Will be interesting to see how this plays out over the years.
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SUPERQUACK
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Message Posted: Apr 18, 2012 6:29:39 PM

I DOUBT IT !!
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SilentpartnerMN
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Message Posted: Apr 18, 2012 6:29:20 PM

Which South American country did our government send money to develop their oil production?
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LegoVasavouchi
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Message Posted: Apr 18, 2012 6:27:10 PM

Fascinating.
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rx7racerca
Champion Author Calgary

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Message Posted: Apr 18, 2012 6:26:32 PM

Seems counterproductive, since the heavy-handed government move is bound to make it even harder to get the partners needed to develop Argentina's shale oil. But, I hear sentiments that aren't so different around here every day, with people advocating that the government needs to somehow step in and deal with high gas prices - an anti-free enterprise move.
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tasha88CA
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Message Posted: Apr 18, 2012 6:25:38 PM

k
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hcivic
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Message Posted: Apr 18, 2012 6:21:00 PM

ok
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mnbeancounter
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Message Posted: Apr 18, 2012 6:15:42 PM

What international company wants to invest in Argentina now?
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ratones1
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Message Posted: Apr 18, 2012 6:15:39 PM

OK...
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BigBob12345
Champion Author Gasbuddy

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Message Posted: Apr 18, 2012 6:12:29 PM

Leave it to third world countries to nationalize companies.
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TBRR
Champion Author Jacksonville

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Message Posted: Apr 18, 2012 6:09:24 PM

51% kind of means nationalization of the company. bet their stock just went to just above zero, like GM stock did when obummer shafted all the GM stockholders. will never invest in GM again.
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