Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain complains to ICSID over Argentina's Repsol seizure

Tue 4th Dec 2012
Spain complains to ICSID over Argentina's Repsol seizure

Spain's Repsol SA filed on Monday a complaint against Argentina before the International Centre for Settlement of Investment Disputes (ICSID) over its nationalisation of energy company YPF SA, according to sources familiar with the dispute.

Last May, the Argentine government seized 51% of YPF, the country's biggest oil and gas company from Repsol, accusing the former parent company of underproduction and under-investment.

In its complaint, Repsol calls the seizure unlawful and discriminatory, according to a source who asked not to be named and who had seen a copy of the document submitted to the ICSID.

The Spanish oil giant denied Argentina's charge that it neglected to invest in YPF. The takeover also sparked protests against Argentina from the European Union and other trade partners. Repsol says the 51% of YPF expropriated by the government is worth 7.7 billion.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs