Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.
Breaking News
A final deal between Repsol and YPF on compensation for the seizure of the Spanish oil major's stake in its Argentine counterpart is likely before the year-end, a Pemex board member at Repsol said in an interview on Saturday.
On Wednesday, sources disclosed that the board of directors of Spanish oil major Repsol will resolve to agree on compensation for its 51% ownership stake in YPF, of which the latter will be nationalized by the government of Argentina.
Two sources told Reuters that Apache Corp and state-controlled Argentine energy company YPF had been in discussions for the possible sale of Apache's stakes in Argentina.
Chevron announced the signing of an investment agreement with Argentina's YPF.
On Wednesday, Repsol’s board of directors announced that it has rejected a noncash offer from YPF valued at US$5 billion.
Spain's Repsol will look into a non-cash offer over the expropriation of its majority stake in energy firm YPF, a source said.
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