Who is afraid of Kirchner's oil Nationalization?
By Cyrus Bina
"Argentina's President Cristina Fernandez
de Kirchner at a press conference on April 16
announced the seizure of a 51% control in oil
company YPF and reasserted Argentina's control
over its oil deposits.
The key phrase in
this spectacular act was "recovery of sovereignty
and control". YPF was Argentina's longtime
national oil company, whose assets, including oil
deposits, were owned by the Argentinian public
until 1993. In 1999, YPF was taken over by Repsol,
Spain's once national oil company. The YPF oil
reserves amounted to two-thirds of Repsol's
ownership of oil reserves before