Argentine President Cristina Fernandez de Kirchner shocked the global business community this week by announcing that she would essentially be nationalizing YPF, the country's dominant energy company, by having the government take a 51 percent controlling stake. Kirchner says YPF has failed to produce enough oil, even though the country is sitting on some of the world's largest reserves of oil and shale gas.
Carlos Slim, the world's richest man, bought 8.4% of YPF, the recently nationalized Argentine oil company. Cristina Kirchner, president of Argentina and the architect of the appropriation, has gained support to bring in internationa... Read Post
The government of Argentina, claiming that a rise in oil imports is making the country "unviable," is taking control of the country's main oil producer. President Cristina Fernandez de Kirchner has announced plans to nationalize YPF... Read Post