Repsol Rejects Argentina’s $5 Billion YPF Compensation Offer (3)
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Repsol SA (REP), Spain’s largest oil
driller, said its board rejected an offer by the Argentine
government meant as compensation for the expropriation of a 51
percent stake in YPF SA in April 2012.
Repsol was offered a 47 percent stake in a joint venture in
the Vaca Muerta shale formation valued by Argentina at $3.5
billion, as well as $1.5 billion toward development, according
to a filing sent to Spain’s securities regulator. The proposal
“does not equal the losses suffered by Repsol,” Read more [...]