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 SA    REP   ES0173516115

REPSOL SA (REP)

Real-time Quote. Real-time Tradegate - 12/09 10:00:35 pm
12.971 EUR   -1.10%
12/07 REPSOL : BP raises its stake in Tangguh LNG to 40.2%
12/06 REPSOL : BP ups Tangguh LNG stake
12/02 REPSOL : 02/12/2016 The Company announces the sale of its 3.06% stak..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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 CET

--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; ilan.brat@wsj.com

--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 SA
12/07 REPSOL : BP raises its stake in Tangguh LNG to 40.2%
12/06 REPSOL : BP ups Tangguh LNG stake
12/02 REPSOL : 02/12/2016 The Company announces the sale of its 3.06% stake in Project..
11/28 REPSOL : Flurry of europe-asia naphtha cargoes to perk up tanker market
11/17 HONDA MOTOR : CBR250R Repsol Racing Replica Limited Edition unveiled In India
11/11 BARAKAH OFFSHORE PETROLEUM BHD : secures Shell contract
11/05 Big Oil pledges $1 bln for gas technologies to fight climate change
11/04 REPSOL : Maersk Oil Exits US Gulf Oil Development
11/04 REPSOL : posts 35% income growth, raises cost-savings target
11/03 REPSOL : Denmark`s Maersk Oil drops out of Buckskin; sees output dip in Q3
More news
Sector news : Oil & Gas Refining and Marketing - NEC
09:42p Oil traders prepare flotilla to ship U.S. exports to Asia
12/08 Kremlin says Rosneft deal with Qatar, Glencore purely commercial
12/08 CHEVRON : sets 2017 capital budget, in 4th year of spending cuts
12/08DJRussia Sells Stake in Oil Giant Rosneft to Glencore, Qatar - Update
12/07 Kremlin says Glencore, Qatari fund to buy 19.5 percent stake in Rosneft
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
12/07 Eni - Looks Like There's A Few Puffs Left In This Cigar Butt
12/05 BP buys Repsol's stake in Tangguh LNG project for $313M
11/23 Energy Sector Dividend Dogs Dig Up Safe Bargains In November
11/21 Repsol Offers An Attractive Dividend Yield Above 6%
11/06 Repsol's (REPYY) Management on Q3 2016 Results - Earnings Call Transcript
Advertisement
Financials (€)
Sales 2016 37 873 M
EBIT 2016 2 122 M
Net income 2016 1 419 M
Debt 2016 10 511 M
Yield 2016 5,26%
P/E ratio 2016 12,59
P/E ratio 2017 11,31
EV / Sales 2016 0,79x
EV / Sales 2017 0,63x
Capitalization 19 222 M
More Financials
Chart REPSOL SA
Duration : Period :
Repsol SA Technical Analysis Chart | REP | ES0173516115 | 4-Traders
Full-screen chart
Technical analysis trends REPSOL SA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 36
Average target price 13,1 €
Spread / Average Target -0,25%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Josu Jon Imaz San Miguel Chief Executive Officer & Executive Director
Antonio Brufau Niubó Chairman
Miguel Martínez San Martín Chief Financial Officer
Luis Suárez de Lezo Mantilla Secretary, Executive Director & General Counsel
Luís Carlos Croissier Batista Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
REPSOL SA29.59%20 403
EXXON MOBIL CORPORATIO..13.30%366 236
ROYAL DUTCH SHELL A16.54%219 938
BP PLC33.74%113 582
CHINA PETROLEUM & CHEM..7.06%91 802
SAUDI BASIC INDUSTRIES..--.--%75 806
More Results