Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Argentina Official Defines YPF's New Corporate Goals

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

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; [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
REPSOL YPF 2.77% 16.7 End-of-day quote.13.26%
YPF SA --End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on YPF SA
04/24YPF SA reports
04/02Latin American nations compete for capital in surge of oil auctions
03/13Oil majors' interest in Argentina tests free-market reforms
2017YPF SA : Ex-dividend day for final dividend
2017EXCLUSIVE : Raízen nears buying Shell's Argentina gas station chain - sources
2017TOTAL : Argentina gives France's Total bonds in settlement
2017Argentina's YPF eyes sale of electricity subsidiary stake to GE -media
2017YPF : GE and YPF Secure Financing for Two Fastpower Projects in Argentina
2017YPF SA : Ex-dividend day for final dividend
2017YPF SA reports
More news
News from SeekingAlpha
06/21Argentina ADRs on the move as MSCI promotes to Emerging Markets Index 
06/20After Hours Gainers / Losers (06/20/2018) 
06/11GeoPark acquires new Argentina block in partnership with YPF 
05/23ARGENTINA : What Just Happened And What's Next? 
05/09YPF Sociedad Anonima's (YPF) Q1 2018 Results - Earnings Call Transcript 
Financials ( ARS)
Sales 2018 357 B
EBIT 2018 18 155 M
Net income 2018 -
Debt 2018 -
Yield 2018 0,13%
P/E ratio 2018 2,17
P/E ratio 2019 1,50
Capi. / Sales 2018 0,50x
Capi. / Sales 2019 0,35x
Capitalization 180 B
Income Statement Evolution
Mean consensus BUY
Number of Analysts 4
Average target price 716  ARS
Spread / Average Target 1 463%
EPS Revisions
Daniel Cristian González Casartelli Chief Executive Officer
Miguel Ángel Gutiérrez Méndez Chairman
Carlos Alberto Alfonsi Executive VP-Operations & Transformation
Luis Miguel Sas Chief Financial Officer
Roberto Luis Monti Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
YPF SA6 673
TOTAL13.98%156 675
EQUINOR22.32%88 061
ENI13.30%66 221