Repsol Says Spanish Court Agrees to Hear Case Against Chevron
by Dow Jones Newswires
|Monday, November 19, 2012
MADRID - A Spanish court has agreed to consider a lawsuit by Spanish oil company Repsol SA against Chevron Corp. over its cooperation with Argentina's YPF SA, a spokesman for Repsol said Monday.
YPF, Argentina's top oil and gas producer, signed an agreement with Chevron in September to explore for unconventional energy in the South American nation.
Argentina's government expropriated YPF from Repsol this year and hasn't publicly offered to compensate the Spanish company for the loss of its unit.
Repsol is seeking up to $10 billion in compensation and has pledged to challenge any YPF deals to develop its business with third parties.
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