Argentina-Repsol Deal on YPF Better than Litigation Says Spain
MADRID, Dec 3 (Reuters) – Any compensation deal between Argentina and Spanish oil major Repsol over the nationalisation of Argentina's national oil firm YPF is preferable to a lawsuit, Spain's secretary of state told Spanish newspaper Expansion.
"A deal, whether good, bad or average is always better than a lawsuit," Jaime Garcia-Legaz said in an interview with Expansion published on Tuesday.
Argentina and Repsol struck a preliminary deal last week over compensation for the seizure of the Spanish firm's controlling stake in YPF after talks in Buenos Aires involving representatives of the Spanish government.
Detailed talks are due to begin this week, the Argentine government said on Friday.
(Reporting By Sarah Morris; Editing by Greg Mahlich)
WHAT DO YOU THINK?
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.
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Repsol Says Drilling Suspended On Vietnam Oil Block Disputed By China (Aug 02)
- China Urges Halt To Oil Drilling In Disputed South China Sea (Jul 25)
Company: YPF SA more info
- Indigenous Mapuche Thwart Argentina Shale Development (Sep 08)
- Argentina's YPF CEO Resigns, 6-Member Exec Committee To Run Firm (Aug 28)
- Statoil, YPF To Explore Shale Oil, Gas In Argentina (Aug 25)