Rumors of YPF Nationalization Spooks Repsol Investors

Stock in Repsol YPF suffered a hefty fall on the Madrid stock exchange Tuesday after reports emerged that the Argentinian government is considering a nationalization of the firm's 58.2 percent-owned YPF subsidiary.

YPF (Yacimientos Petroliferos Fiscales), the largest oil company in Argentina, has been owned by Repsol since 1999. But after Argentinian newspaper Pagina 12 reported that Argentina's government is currently debating re-nationalizing the company, stock in Repsol lost as much as 3.7 percent during trading in Madrid Tuesday.
YPF's own stock suffered falls in Argentina and on the New York Stock Exchange, where American Depositary Shares in YPF had lost two percent of their value in by 13.14 EST Tuesday.
YPF issued a statement Tuesday to the US Securities and Exchange Commission that said: "While ordinarily it is the company's policy to not comment on unusual market activity, or market rumors, it confirmed to the NYSE that it is not aware of any material corporate developments which could account for the recent unusual trading activity in the company's shares."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
IT Category Manager - Supply Chain
Expertise: Supply Chain Management
Location: Houston, TX
Strategic Sourcing Data Analyst
Expertise: Supply Chain Management
Location: Houston, TX
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours