Will the Falkland Islanders soon be learning Chinese?
With the proposed nationalisation of Repsol by Argentina yesterday, the group’s shares fell 7% to 16.31 euros.
Argentinian Presidentette Cristina Fernandez plans to steal a controlling 51% stake in the company’s YPF division.
It’s about 50% of Repsol group output, and a fifth of net profit. Having previously been a bit dopey for years, more recently Repsol’s YPF has opened up exciting new resources in Brazil, the Gulf of Mexico and Nigeria. Continue reading
