News Column

Spain's Repsol to Sue Argentine Company Over YPF Deal

Jan. 4, 2013

Spanish oil giant Repsol will take legal action against Argentine oil company Bridas over its plans to exploit shale resources jointly with state-controlled energy firm YPF, Repsol sources said Friday.

Repsol formerly controlled 51 per cent of YPF, which Argentina nationalized in April.

Repsol has challenged the nationalization through a World Bank arbitration organ, arguing that Argentina wanted to take control of important shale oil resources that had been discovered by Repsol.

Repsol has also sued the US oil company Chevron over a deal to participate in exploiting the resources at Vaca Muerta.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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