Business

Argentina’s Congress approves $5B Repsol indemnity

By Debora Rey
Published April 24, 2014 4:27pm ET
Add Washington Examiner on Google
Argentina’s Congress approves $5B Repsol indemnity
BUENOS AIRES, Argentina (AP) — Argentina is hoping to have an easier time attracting international investors to exploit its oil and gas fields now that lawmakers have agreed to pay $5 billion to the Spanish company Grupo Repsol for its controlling stake in the YPF oil company. President Cristina Fernandez nationalized the company two years […]

BUENOS AIRES, Argentina (AP) — Argentina is hoping to have an easier time attracting international investors to exploit its oil and gas fields now that lawmakers have agreed to pay $5 billion to the Spanish company Grupo Repsol for its controlling stake in the YPF oil company.

President Cristina Fernandez nationalized the company two years ago without paying anything beforehand to Respsol, which had demanded $10.5 billion in compensation.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.