Repsol YPF Could Bring in US$12bn for 45% of YPF

Spanish oil major Repsol YPF (NYSE: REP) estimates it could raise US$10bn-12bn from selling 45% of its Argentine subsidiary YPF, Argentine press quoted general director of operations Miguel Martinez as saying at an analysts meeting in Spain.

Repsol YPF plans to divest 25% of YPF to a private Argentine partner and place 20% on the local stock exchange.

The former divestment could be concluded in a matter of 6-7 weeks, while the latter could require some six months.

Repsol YPF acquired nearly 100% of YPF from Argentina's government for more than US$15bn in 1999.

YPF posted January-March net profits of 1.20bn pesos (US$390mn), down 13.6% from 1.39bn pesos in January-March 2006, BNamericas reported previously.

Repsol YPF's main strategic objectives for upstream development in Argentina include maintaining production levels and performing offshore exploration.

In addition, the company is focused on its Plada plan, which involves developing higher-risk projects such as tight gas, heavy crude, tertiary recovery methods and deepwater, beginning in about 2009.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Oilfield Sales Representative - Outside Sales (Oil and Gas)
Expertise: Business Development|Project Management|Sales
Location: Odessa, TX
EU Business Development Manager - Refining/Maintenance Services
Expertise: Business Development
Location: Houston, TX
Manager, Probabilistic Risk Analysis Job
Expertise: Business Development|Research & Development|Technical Manager
Location: Minneapolis, MN
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours