ARGENTINA’s MOSSADEGH? Cristina Fernandez de Kirchner Nationalizes Spanish Oil Firm YPF


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ARGENTINA’s MOSSADEGH? Cristina Fernandez de Kirchner Nationalizes Spanish Oil Firm YPF
by Darius Kadivar
27-Apr-2012
 

President Cristina Kirchner said she will nationalize Argentina's largest oil-and-gas company, YPF. The move fired up a battle with the company's Spanish controlling shareholder and the Madrid government. (Source: persianrealm.com)

 

Argentina to seize control of oil company (Al Jazeera):

Spain's government has criticised Argentina's decision to take over the Spanish owned oil company, YPF.
 
Argentina wants to exert control over its natural resources by taking a 51 per cent stake.


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IRANIAN PRECEDENCE


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News clip showing Iranian Oil Nationalisation:

A news clip showing the nationalisation of the Anglo Iranian Oil Company in 1953 by the democratically elected Iranian prime minister, Dr Mossadeq.

 

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FALKLANDS MILITARY STATUS QUESTIONED


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Argentina to take Falklands case to UN:

Argentina plans to present a formal complaint in the United Nations over Britain's "militarisation" of the situation in the Falkland Islands, known as Las Malvinas in Argentina.

"We will present a complaint to the UN Security Council and the UN General Assembly, as this militarisation poses a grave danger to international security," President Cristina Kirchner told a group of politicians and Argentine veterans of the 1982 Falklands war on Tuesday.

Referring to the British navy's deployment of a state-of-the-art warship to the region last week, Kirchner said the UK was "once again in the process of militarising the south Atlantic".

Al Jazeera's Laurence Lee reports from London


 

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IRAN’s PRESS TV TAKES NOTICE


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'Argentina's Fernandez new Eva Peron' (IRI’s Press TV Reports):

In a strong move for the health of Argentina, the government has nationalized its oil industry and expropriated 51 percent of Spanish oil firm YPF to this end.



 

 

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ARGENTINA SENATE BACKS YPF NATIONALIZATION


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Argentine senate approves oil nationalisation (Al Jazeera):

President Cristina Fernandez de Kirchner's plan for takeover of country's largest oil company. YPF, receives wide support in early-morning senate vote.




 

 

 

Argentina Senate backs YPF oil nationalisation (bbc)

 

Argentina's Senate has approved the controversial decision to nationalise the oil company YPF.

The plan to strip the Spanish firm Repsol of its controlling stake in YPF was announced last week by President Cristina Fernandez de Kirchner.

The move has been condemned by Spain, and the EU has said it may take the case to the World Trade Organization.

The plan has, however, proved popular in Argentina. The proposal will now be sent to the lower house for approval.

Ms Fernandez's allies control both houses of Congress and even some opposition legislators have supported the nationalisation.

"The government's bill doesn't reflect a capricious or random decision," ruling party Senator Marcelo Fuentes told Reuters before the vote.

"It's a logical result stemming from the need to reverse free-market thinking in energy policy."

Some observers have warned that the nationalisation may have negative consequences for foreign investment in Argentina, but Ms Fernandez insists the move is necessary to reduce the state's energy bill.

In 2010 Argentina started importing fuel for the first time since YPF, Argentina's biggest oil company, was privatised in the early 1990s.

Ms Fernandez blames Repsol, accusing it of having drained YPF since acquiring a controlling stake in the 1990s and not investing enough to cope with growing internal demand. Repsol insists it has invested in Argentina.

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