Press statement by José Manuel Barroso on YPF / Repsol nationalisation plan
On 17 April 2012, José Manuel Barroso, President of the EC, gave a press statement on YPF / Repsol nationalisation plan, in Brussels.
Argentina is to renationalise YPF, its biggest oil company, ousting the Spanish group Repsol as majority shareholder and prompting a sharp fall in the Spanish oil group’s shares.
Spain retaliated by summoning the Argentine ambassador in an escalation of tensions between the two countries.
The seizure of YPF would be the biggest renationalisation in the natural resources industry since the Russian government took control of Yukos in the early 2000s. SHOTLIST