On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1360 AM Northeast, WI 97.5 FM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
48° Feels Like: 43°
Wind: SSW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Showers Late 46°

Tomorrow

Showers 65°

Mon Night

Thundershowers 50°

Alerts

Argentina, Repsol in talks regarding YPF compensation: Argentina

People walk past a YPF petrol station in Buenos Aires November 26, 2013. REUTERS/Marcos Brindicci
People walk past a YPF petrol station in Buenos Aires November 26, 2013. REUTERS/Marcos Brindicci

BUENOS AIRES (Reuters) - Argentina has begun talks with Repsol about compensation to the Spanish oil major for last year´s nationalization of the South American country's top oil company, YPF , a government official said on Thursday.

Argentine cabinet chief Jorge Capitanich told reporters that the long-awaited negotiations had begun but declined to elaborate on the progress or location of the talks.

"Negotiations with Repsol have begun. They are meeting," Capitanich told a news conference.

Argentina and Repsol struck a preliminary deal last week over compensation for the 2012 seizure of the Spanish company's majority stake in YPF. Sources have said Argentina is offering a compensation package worth $5 billion, half the sum Repsol was initially demanding.

Details of the settlement, which is likely to be paid in 10-year U.S. dollar denominated Argentine bonds, are expected to be ironed out in the coming weeks.

(Reporting by Hugh Bronstein; Editing by Bob Burgdorfer)

Comments