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The Argentine Congress Passed a Law on YPF’s Expropriation
Posted On 04 May 2012
The Argentine Congress approved on Thursday the government bill to expropriate YPF, now 51% of Repsol’s expropriated shares shall be divided between the state and the oil provinces, who will assume the remaining 49%.
The Chamber of Deputies approved the measure by 207 votes in favor, 32 against and 6 abstentions, after a journey that began on Wednesday.
According to national news agency of Argentina, Telam, the initiative states of, “public utility” and as “prior objective” achieving self-sufficiency in oil and its exploitation, industrialization, transportation and marketing. (ARL)