How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
... Telefonica are NOT the only service provider of Telephone Lines, Internet Access or Mobile Phones?
Tumbit recommends Telitec Communications. Find out how Telitec Communications can help you here!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update - 27 March 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Repsol to sue Argentina, cancel supplies of gas
Repsol will sue Argentina for $10.5 billion over the Latin American country's expropriation of their 51% stake in oil company, YPF.
A spokesman for the company confirmed that Repsol will take its case to the World Bank's International Centre for Settlement of Investment Disputes in Washington, USA, where it will seek repayment for the seized shares and indemnization for damages.
Repsol will use a 1991 agreement between Spain and Argentina to support its case before the ICSID court , which is likely to be made before the end of the year. The company also considers that the takeover should have received shareholder approval or been conducted on the entirety of the company stock, as opposed to leaving Repsol with a mere 6% of YPF shares.
The company values their expropraited shares at $10.5 billion, however Argentina disagree with this valuation and the government has appointed a local court to determin it's their worth.
In turn, Argentina has accused Repsol of failing to supply a contract for 135'000 m3 of LNG scheduld to arrive in Buenos Aires next week. Repsol have claimed that this is due to 'credit issues' with YPF.
Repsol are under contract to supply 10 similar shipments to Argentina this year, with it looking unlikely that they will now be made.
Latest News & Stories
- Saloufest 2015 underway
- Murcia's San Javier Airport not to close imminently
- Spanish train maker Talgo eyeing share listing in May
- 23 'Decontaminated' in Madrid terror alert
- Spain Pilots unions claims '2 person rule' ineffictive
- Happy 4th Birthday Castellon Airport !
- Telefónica to triple Spain's ADSL speeds before summer
- None of Spain's AVE high-speed rail lines profitable
- Spain launches new EU153 Mln smart city initiative
- Bank of Spain expects 2.8% growth in Q1