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Argentine Congress poised to approve YPF takeover

 Lawmakers gather in the Lower House of Congress to debate the YPF bill on the expropriation of the oil company in Buenos Aires, Argentina, Wednesday,...
 Graciela Cabrera shares her mate, an herbal tea, as she sells T-shirts that read in Spanish "YPF recuperating sovereignty" outside Congress before la...
 A man shows a sticker that reads in Spanish "YPF. To hand over our oil, is like handing over our flag" outside Congress as lawmakers debate the YPF b...

Argentina Oil

Lawmakers gather in the Lower House of Congress to debate the YPF bill on the expropriation of the oil company in Buenos Aires, Argentina, Wednesday,...

Argentina Oil

Graciela Cabrera shares her mate, an herbal tea, as she sells T-shirts that read in Spanish "YPF recuperating sovereignty" outside Congress before la...

Argentina Oil

A man shows a sticker that reads in Spanish "YPF. To hand over our oil, is like handing over our flag" outside Congress as lawmakers debate the YPF b...

Argentina's congress is set to approve the country's takeover of the formerly state-owned energy
Argentina is not only expropriating Repsol's $10.5 billion controlling stake in the country's YPF oil company. Deputies are debating whether to make Argentina's entire energy industry a target for other state inverventions.
The law declares that energy self-sufficiency is more important than profits for any oil and gas companies operating in Argentina.
The so-far-uncompensated YPF takeover has Spain threatening to retaliate, and Moody's rating service says trading with Argentina is riskier than before. But the Argentines have brushed off the criticism, and more than three-fourths of the lawmakers are expected to approve the law Thursday night.


Updated : 2021-10-19 08:21 GMT+08:00