Arab Today, arab today mexico sells €22bn stake in spain oil giant repsol
Last Updated : GMT 18:50:38
Arab Today, arab today
Arab Today, arab today

Mexico sells €2.2bn stake in Spain oil giant Repsol

Arab Today, arab today

Arab Today, arab today Mexico sells €2.2bn stake in Spain oil giant Repsol

Spanish oil giant Repsol's headquarters
Madrid - AFP

Madrid's stock market suspended trading in oil giant Repsol on Wednesday following an announcement that Mexico's state-owned Pemex is selling a 2.2-billion-euro ($3 billion) stake in the Spanish group.
After months of tension between the two oil groups, Repsol said in a statement on Tuesday that Pemex would sell a 7.86-percent stake in Repsol, with investment banks Citigroup Global Markets and Deutsche Bank handling the deal.
The shares being sold by Pemex, which represented most of its 9.34-percent Repsol holding, had a value of 2.2 billion euros at the close of trade on Tuesday.
On Wednesday, the Spanish stock market regulator suspended Repsol shares so as to avoid disrupting market trade following the announcement.
Pemex chief executive Emilio Lozoya had strongly criticised Repsol's handling of a conflict with Argentina, which in 2012 seized and nationalised Repsol's 51-percent owned unit YPF.
Repsol announced May 23 it had exited Argentina, pocketing $6.3 billion in compensation and asset sales after Buenos Aires' takeover of YPF.
The news marked the final chapter of a bitter row sparked in April 2012 when Argentina's President Cristina Kirchner ordered the nationalisation of Repsol's 51 percent-owned YPF unit.
Repsol said it had earned $5 billion from the sale of Argentine government bonds, which had been paid by Buenos Aires in compensation over the seizure of YPF.
Buenos Aires' seizure of the YPF operations forced Repsol to make provisions of 1.28 billion euros in 2013 and sent its profits for that year plunging by 90 percent.
For YPF, settlement of the dispute with Repsol could remove legal questions over its assets, helping to lure foreign investment to the vast Vaca Muerta shale oil and gas field in Argentina, which YPF discovered in 2010.
The Vaca Muerta find is estimated to contain the equivalent of 22.8 billion barrels of oil, described by Repsol at the time as the largest discovery in its history.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mexico sells €22bn stake in spain oil giant repsol Arab Today, arab today mexico sells €22bn stake in spain oil giant repsol

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100

GMT 15:37 2017 Wednesday ,22 February

Nakilat Posts QR 955 Million Profit in 2016

GMT 15:32 2017 Wednesday ,22 February

Laffan Refinery 2 Cost QR 3 Billion

GMT 15:31 2017 Wednesday ,22 February

Oil up 2% as OPEC chief sees higher compliance with cuts

GMT 07:00 2017 Wednesday ,22 February

Oil prices rise on high OPEC compliance with output cuts
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday