British Conservatives support Spanish Big Oil in Argentina


Cristina Fernández de Kirchner, President of Argentina

From daily The Morning Star in Britain:

Hague slams plans to nationalise oil company

Wednesday 18 April 2012

William Hague complained today about the Argentinian government’s plans to nationalise a Spanish-controlled oil and gas company.

Hot on the heels of Britain’s hostile rhetoric over the Falkland Islands, the Foreign Secretary attacked President Cristina Fernandez’s draft Bill to take over the YPF as part of a wider “protectionist” agenda.

Ms Fernandez has said she will nationalise a large part of the country’s biggest oil company, which will see Spain’s Repsol stake reduced from 57 per cent to 6 per cent, as part of efforts to curb massive fuel price rises.

Mr Hague said the move would “undermine Argentina’s economy by reducing its attractiveness to international investors.”

He added that Britain would work with Spain and the EU to stop the plans.

The announcement has drawn a furious response from Madrid which has threatened trade and diplomatic reprisals.

BUENOS AIRES, Apr 18, 2012 (IPS) – One of the big challenges facing the Argentine government in its plans to regain state control of the country’s biggest oil firm, YPF, is to make up for the time lost under private management, when production and exploration fell: here.

Video: Argentinian Falklands advert attracts UK ire: here.

14 thoughts on “British Conservatives support Spanish Big Oil in Argentina

  1. Hi Richard, seizing the Falklands/Malvinas was indeed initially popular in Argentina. The differences are that that was a military dictatorship; while Ms Fernandez now is an elected president. And the generals caused a bloody war, helped by Thatcher, while in nationalizing parts of the assets of a Spanish Big Oil corporation no-one gets killed or hurt (except fat cats’ wallets) /

    More about the Falklands/Malvinas war is at

    https://dearkitty1.wordpress.com/2012/04/15/1982-falklandsmalvinas-war-still-kills/

    and

    https://dearkitty1.wordpress.com/2012/04/02/camerons-new-falklands-war/

    Like

  2. Senate approves oil nationalisation

    ARGENTINA: The Senate approved nationalisation of Spanish transnational Repsol’s majority stake in the YPF oil company on Thursday.

    The Expropriation Bill passed 63 to 3, with 4 abstentions. The Bill will be voted on in the Chamber of Deputies next week, where it is also expected to pass.

    Taking Argentina’s largest company back into public ownership has proven hugely popular in the country, despite threats of retaliation from the European Union.

    http://www.morningstaronline.co.uk/news/content/view/full/118273

    Like

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