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

4-Traders Homepage  >  Equities  >  BOLSA DE COMERCIO DE BUENOS AIRES  >  YPF SA    YPFD   ARP9897X1319

YPF SA (YPFD)

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Argentina Official Defines YPF's New Corporate Goals

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/18/2012 | 12:37am CEST
   By Taos Turner 
   Of  
 

Argentina's deputy economy minister on Tuesday effectively laid out the government's new mission statement for oil and gas producer, YPF SA (YPF, YPFD.BA).

Argentine President Cristina Kirchner seized management of YPF on Monday, after calling on Congress to nationalize the company and force it to boost oil and gas output.

The company's new priority won't be profitability, but providing cheap energy to people and companies.

YPF's goal will be "to keep prices low to foment purchasing power" and "keep companies competitive" by providing consistently cheap oil and gas, Axel Kicillof, Argentina's deputy economy minister, said in congressional testimony.

On Monday, Kirchner asked Congress to nationalize 51% of YPF by expropriating the vast bulk of shares owned by its majority shareholder, Spain's Repsol YPF SA (REPYY, REP.MC).

Kicillof slammed Repsol in his testimony, saying the company had "emptied" YPF and focused on profit when it should have focused on boosting oil and gas production.

Repsol Chairman Antonio Brufau has denied the charges and said Argentina's government is simply trying to cover up the country's economic problems and an unsustainable energy policy.

Kicillof accused private-sector companies of being uninterested in improving the social good in Argentina.

Kicillof said the price of oil in Argentina should remain uncoupled from global oil prices and that the state should keep prices low while also increasing production.

Brufau "would have a heart attack," if he knew how low the cost of a barrel of oil should be in Argentina, said Kicillof.

Famous for his long sideburns and for shunning ties and suits, Kicillof is considered the intellectual architect behind Kirchner's plans to nationalize YPF.

Before coming to the Economy Ministry, he helped manage flag carrier Aerolineas Argentina, which Kirchner nationalized in 2008, wresting control from Spain's Marsans.

Critics say Aerolineas loses money every day. But Kicillof defended the airline, saying it is now a more efficient company.

Repsol's current stake in YPF is about 57%. Under the expropriation bill, Argentina's federal and provincial governments would take 51% of YPF from Repsol, leaving Repsol with a 6% stake.

The remaining 49% would be in the hands of the Eskenazi family, which holds 25%, and other investors.

-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on YPF SA
08/16DJYPF Can Finance Maxus' Bankruptcy Plan, Judge Says
08/15DJYPF : Can Finance Maxus' Bankruptcy Plan, Judge Says
07/15 YPF : YPFB & YPF Sign Agreement for Exploration & Exploitation of the Area Chara..
07/14DJPan American Energy to Invest $1.4 Billon in Argentina
07/04 YPF SA : ex-dividend day for annual dividend
06/21DJMaxus Bankruptcy Deal Faces Opposition From OxyChem
06/03 METROGAS : Chile Initiates Process of Natural Gas Delivery to Argentina through ..
05/05DJRepsol Net Profit Plunges More Than 40% --Update
03/10DJYPF : Correction to Argentina Oil and Gas Drillers Story on Wednesday
03/10DJYPF : Argentina's 'Dead Cow' Provides Rare Bright Spot for Oil, Gas Drillers
More news
Sector news : Integrated Oil & Gas
08/25DJPETROLEO BRASILEIRO PETROBRAS : S&P Cuts Rio de Janeiro State's Credit Rating
08/25DJPETROCHINA : China Oil Drillers Take Hit -- WSJ
08/24DJPETROCHINA : and Cnooc Results Plunge
08/24DJPETROCHINA : and Cnooc Results Plunge
08/24DJBrazil Judge Authorizes Sale of Petrobras Unit
More sector news : Integrated Oil & Gas
News from SeekingAlpha
08/06 YPF Sociedad Anonima's (YPF) CEO Daniel Gonzalez on Q2 2016 Results - Earning..
08/04 YPF Sociedad Anonima reports Q2 results
06/24 ENERGY RECAP : Rig Count Reverses Course
06/21 Maxus Energy's Chapter 11 deal faces hurdle from OxyChem
06/07 LATIN AMERICAN ADRS HEATMAP : Weekly Update
Advertisement
Financials ( ARS)
Sales 2016 229 742 M
EBIT 2016 30 818 M
Net income 2016 12 979 M
Debt 2016 122 375 M
Yield 2016 0,06%
P/E ratio 2016 10,45
P/E ratio 2017 5,63
EV / Sales 2016 0,98x
EV / Sales 2017 0,89x
Capitalization 103 034 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 517  ARS
Spread / Average Target 97%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ricardo Darr Chief Executive Officer
Miguel Ángel Gutiérrez Méndez Chairman
Daniel Cristian González Casartelli CFO & Non-Independent Director
Carlos Alberto Alfonsi Director & Executive Director-Downstream
Juan Franco Donnini Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
YPF SA6 953
PETROCHINA COMPANY LIM..-11.14%195 075
TOTAL4.36%120 910
NK ROSNEFT' PAO--.--%56 436
PETROLEO BRASILEIRO SA..84.33%55 413
ENI SPA-1.30%55 353
More Results