New Era Begins for Argentinean State-owned Oil Company
Buenos Aires, May 7 (RHC)-- Nine decades after its founding, the re-nationalized YPF oil company will begin a new work stage that, according to Argentinean President Cristina Fernandez, will allow it to become a thoroughly modern and competitive firm.
The new beginning will be marked by the publication in the Official Gazette of a declaration on public interest in achieving oil self-sufficiency and providing the expropriation of 51 percent of shares of the YPF, previously owned by the Spanish company REPSOL.
Moreover, the Bulletin will make official the appointment of Miguel Galuccio as the new CEO of YPF, which in turn opens up a new phase of business alignment with national interests.
According to a statement from the Casa Rosada, Alejandro Vanoli, head of the National Securities Commission (CNV), convened a board meeting of the agency to implement the provisions of the law on the expropriation of YPF shares.