Argentina is considering sending a proposal to the nation’s Congress to nationalize YPF SA (YPFD), the nation’s largest oil producer, El Dia reported today on its website, citing unidentified people in the legislature.
Argentine President Cristina Fernandez de Kirchner has asked Planning Minister Julio De Vido and Deputy Economy Minister Axel Kicillof to develop proposals about the future of YPF, according to El Dia.
This week, the Argentine provinces of Chubut and Santa Cruz pulled four oilfield licenses from YPF, saying the company hadn’t invested enough. YPF is 57 percent owned by Repsol, Spain’s largest oil producer, while the Eskenazi family’s Petersen Group controls 25 percent.
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