Repsol has to fight Argentina’s oily expropriation

April 16, 2012

Buenos Aires’ leftist government is taking control of YPF, the oil and gas company 57 percent owned by Repsol of Spain. Worse, it seems that the state may be nationalizing only Repsol’s shares. Argentina’s naked power play may be overwhelming, but the Spanish should not just roll over.

Repsol nearly pricing in the worst

April 18, 2012

The Spanish energy group has been hard hit by the expropriation of most of its shares in Argentina’s YPF. Investors are pricing in zero compensation and wipeout on a YPF-backed loan. But with the strategy upended and a long legal fight ahead, the market pessimism is justified.

Oil majors can’t afford to shun Argentina

April 23, 2012

Beyond the YPF asset grab, Cristina Fernandez may overhaul the entire energy sector. But Argentina’s shale is too important to ignore and Big Oil knows how to navigate tricky regimes, including Venezuela’s. Even with risks higher and returns lower, the long game could pay off.