The Argentine government is looking to seduce major
international oil companies to invest some EUR8 billion, or about
$10 billion, in the country's energy sector with YPF SA (YPFD.BA,
YPF), just days after it moved to nationalize YPF, the Argentine
unit of Spanish oil company Repsol YPF SA (REP.MC, REPYY), reports
Expansion in its Thursday Internet edition.
The investment won't have to necessarily entail the purchase of
YPF shares, but there could be alliances for specific projects or
the creation of a joint venture, the newspaper says.
China Petroleum & Chemical Corp (SNP, 0386.HK), known as
Sinopec, and CNOOC Ltd (CEO, 0883.HK)are the main candidates, the
paper adds.
Recent press reports said that Sinopec had already reached a
nonbinding agreement with Repsol to purchase a controlling stake in
YPF before Argentina moved ahead with its nationalization
plans.
Newspaper website: www.expansion.com
-By Enza Tedesco, Dow Jones Newswires;
enza.tedesco@dowjones.com