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Argentina To Take Control Of YPF

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By Douglas A. McIntyre Published
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Argentina’s government says it will nationalize YPF,the nation’s biggest oil company. This will push out Spain’s group Repsol–the majority shareholder. What is left now is to see if Repsol will have as recourse, or what it may get for its ownership portion.

The act looks like the moves by Venezuela several years ago to seize the holdings of several multinational oil firms.

Cristina Fernández, Argentina’s president, said the move was necessary because Repsol refused to let YPF invest in aggressive exploration and production which cased the South American nation to import $9 billion in energy last year. The reason may not matter. Large oil companies just received a warning that Argentina is not a safe partner, which in turn will isolate the energy activity of the country even further.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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