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April 17, 2012

Argentina Moves to Nationalize Major Oil Company 
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Argentina has unveiled plans to nationalize the country’s largest oil
company, YPF. In a major push to reclaim sovereignty over the
country’s natural resources, Argentine President Cristina Fernández
de Kirchner said Monday the government would seek a 51 percent share in
the company. She accused the firm’s majority owner — the Spanish
company Repsol — of failing to meet Argentina’s energy needs.
The move has sparked an outcry from Repsol and the Spanish government.

 

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