Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Bolsa de Madrid  >  Repsol YPF    REP   ES0173516115

REPSOL YPF (REP)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

WSJ 2nd UPDATE: Spain Restricts Non-EU Biodiesel Use In YPF Response

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2012 | 11:59pm CEST

--Spain says all biodiesel mixed into fuel must be from European Union

--Measure is a response to Argentina's seizure of Repsol YPF's local unit

--Spain says additional responses to come

(Adds response from Argentina, in the eighth through 10th paragraphs.)

 
   By Ilan Brat 
   Of THE WALL STREET JOURNAL 
 

An eye for an eye, an oil for an oil? Spain's first economic response to Argentina's seizure of Repsol YPF SA's (>> Repsol YPF SA) local unit will target biodiesel imports, the government said Friday.

The measure, which the Spanish government disclosed after the weekly cabinet meeting, mandates that all biodiesel mixed into fuel processed in Spain come from European Union countries. The new rule effectively cuts off the direct flow of Argentine biodiesel to Spain, which in 2011 was worth about EUR750 million and represented about 45% of Spain's biodiesel consumption, according to government statistics and Spain's Renewable Energy Producers Association, or APPA in its Spanish acronym form.

The moves came as Spain is striving to marshal international pressure against Argentina after the former colony issued plans this week to expropriate 51% of YPF SA (YPF, YPFD.BA), leaving Repsol with a 6.4% stake in the South American country's leading oil-and-gas company.

The pressure campaign is showing some signs of success. The U.S. expressed its concern about Argentina's decision this week, and political leaders from Mexico and other countries have condemned Argentina's nationalization effort. On Friday, the European Parliament approved a resolution seeking to partially suspend preferential trade treatment for Argentine exports.

Spain's move against Argentina's exports Friday targets a key industry for Argentina, soybean production, and may relieve some economic strain from Spain's 51 biodiesel-production plants. Under Spanish law, biodiesel must represent about 7% of the petroleum-derived fuel consumed in Spain, and biodiesel imports, primarily from Argentina and Indonesia, have been growing rapidly in recent years.

About 74% of the 1.6 million metric tons of biodiesel consumed in Spain in 2011 originated outside the country, compared with 62% in 2010, according to APPA.

After the weekly cabinet meeting, Spain's deputy prime minister, Soraya Saenz de Santamaria, said the government will continue to look for other reprisals to take against the Argentina and ways to exert international pressure.

Argentine President Cristina Kirchner told Argentines that they shouldn't worry about Spain's decision. Argentina can increase domestic demand to compensate for a decline in exports, she said.

"Argentina's biodiesel is much cheaper than that produced by the Spaniards," Kirchner said in a speech. "If Spain's government wants its own businesses to pay more for biodiesel, that's a sovereign decision. We're not going to question it."

Kirchner said Argentina won't complain about the move at the World Trade Organization.

Repsol shares closed up 1.74% at EUR14.92 on Friday, just below the 1.92% gain seen on Madrid's blue-chip index.

-By Ilan Brat, The Wall Street Journal; 34-91-395-8125; [email protected]

--Taos Turner in Buenos Aires contributed to this article.

Stocks mentioned in the article : Repsol YPF SA
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on REPSOL YPF
10/16 REPSOL YPF : publishes its trading statement 3Q17
10/15 WEATHERFORD INTERNATIONAL : Wins Repsol Norge Plug & Abandonment Contract
10/05 REPSOL YPF : First look at Nanushuk released
10/02 REPSOL YPF : - Antonio Brufau calls for a transition toward a more efficient and..
09/28 REPSOL YPF : Antonio Brufau calls for a transition toward a more efficient and s..
09/18 REPSOL YPF : eyes 5% market share in 10 years
09/15 REPSOL YPF : Archer wins four year contract to deliver additional P&A services f..
09/14 REPSOL YPF : Archer Limited - Repsol Norge awards Archer additional contracts fo..
09/13 REPSOL YPF : Norge Awards Archer Additional Contracts for P&A Services
09/13 REPSOL YPF : Workers hurt in crane accident
More news
News from SeekingAlpha
10/03 Libya's biggest oil field shut by gunmen for third straight day
09/27 Exxon bets on Brazil, buying into eight offshore oil blocks in auction
09/06 BLOOMBERG : Libya's biggest oil field resumes production
08/28 SEADRILL : Some Promise In Latest Earnings, But Struggles Still Await
08/22 Libya lifts force majeure on Sharara crude shipments
Financials (€)
Sales 2017 44 574 M
EBIT 2017 3 182 M
Net income 2017 2 011 M
Debt 2017 8 816 M
Yield 2017 4,88%
P/E ratio 2017 11,13
P/E ratio 2018 11,21
EV / Sales 2017 0,72x
EV / Sales 2018 0,69x
Capitalization 23 346 M
Chart REPSOL YPF
Duration : Period :
Repsol YPF Technical Analysis Chart | REP | ES0173516115 | 4-Traders
Technical analysis trends REPSOL YPF
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 36
Average target price 15,2 €
Spread / Average Target -0,70%
EPS Revisions
Managers
NameTitle
Josu Jon Imaz San Miguel Chief Executive Officer & Executive Director
Antonio Brufau Niubó Chairman
Miguel Martínez San Martín Chief Operating & Financial Officer
Hector González Nistal Executive Director-Technical Development, S&E
Luis Suárez de Lezo Mantilla Secretary, Executive Director & General Counsel
Sector and Competitors
1st jan.Capitalization (M$)
REPSOL YPF13.90%27 541
EXXON MOBIL CORPORATION-8.31%350 663
BP-3.42%127 482
CHINA PETROLEUM & CHEMICAL CORP--.--%103 983
CHINA PETROLEUM & CHEMICAL CORP7.58%103 936
RELIANCE INDUSTRIES LIMITED61.90%89 042